Banking Vocabulary Words – Flashcards
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Service Charge
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A fee charged by a bank for services rendered
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Outstanding Check
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A check that has not been received by the bank
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Outstanding Deposit
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A deposit that has not been received by the bank
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Overdraft
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Writing a check for more money than is in your account
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Endorsement
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A signature on the back of the check that transfers ownership of the check
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Canceled checks
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Checks that have been paid by a financial institution
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Drawer
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the person who signs the check
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Drawee
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the bank or other financial institution in which the account is held.
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Payee
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The person to whom a check is made payable
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Forgery
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Signing another person's name on the check form without authority to do so
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Postdated check
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A check dated later than the date on which it is written
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Stopping payment
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instructing a bank not to pay a certain check
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Bank Reconciliation
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A statement showing how the checkbook balance and the bank statement were brought into agreement
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Account Number
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Identifies a specific bank account
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Signature Card
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Verification of the ownership of an account
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Individual Account
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An account that has only one holder
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Joint Account
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An account held between two or more individuals and grants each person who signs the signature card all the rights and privileges attached to the account
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Checkbook
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Contains checks that are used for making payments in place of cash
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Check Stub
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Attached to each check and used for recording the balance of the account, the amount of each check written, to whom the check is written, deposits and bank charges
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Deposit Slip
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A form to be completed when you deposit money in your account
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Blank Endorsement
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An endorsement consisting of just a signature
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Special Endorsement
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An endorsement that states "Pay to the order of". It passes the ownership of a check to another person
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Restrictive Endorsement
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An endorsement that restricts what can happen to the check. It states "For deposit only".
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Bank Statement
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A record of all deposits, withdrawals, and service charges for your checking account since the last statement
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What kind of check endorsement is this? ____________________ Sarah Graham ____________________ Any holder of the check can cash it
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Blank Endorsement
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What kind of check endorsement is this? ___________________ Pay to the order of Scott Delagarza Jill Peery ___________________ Check can be cashed only be Scott Delagarza
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Special Endorsement
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What kind of check endorsement is this? ______________________ For deposit to account No. 627-421-8 Tamera Reynolds _____________________ check can be used only for deposit to account shown
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Restrictive Endorsement
