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Chapter 17
Question | Answer |
---|---|
Federal Reserve System (Fed) | bank for banks |
commercial bank | full service banks, offer wide range of finacial services |
credit union | user-owned, not for profit co-op |
Federal Deposit Insurance Corporation (FDIC) | protects depositers money in case of bank failure |
safe-deposit boxes | stores valubles in the banks main safe |
service charge | feee bank chrages for handling a checking account |
depit card | cash card, takes money directly out of your checking account |
endorsement | written evidence that you received payment or you transferred your right of receiving payment to somenone else |
check register | balances your checkbook |
bank statement | report that shows the status of your account |
stop payment order | written notice that tells the bank not to pay acertain check. |
outstanding checks | checks that are written, but not yetr cashed. |