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Checking Accounts

Chapter 6 - Cash Control Systems

Petty Cash An amount of cash kept on hand and used for making small payments
Debit Card a bank card that automatically deducts the amount of the purchase from the card holder's checking account
Checking Account a bank account from which payments can be ordered by a depositor
Dishonored Check a check the bank refuses to pay
Petty Cash Slip a form showing proof of a petty cash payment
EFT Electronic Funds Transfer
Restrictive Endorsement an endorsement that restricts further transfer of a check
Special Endorsement an endorsement that indicates a new owner
Blank Endorsement includes endorser's signature only
Endorsement a signature or stamp on the back of a check transferring ownership
Created by: hart