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banks and payments
banks and payments 1st year x
| Term | Definition |
|---|---|
| payee | who gets paid |
| drawee | bank |
| drawer | writes the cheque |
| cheque | written instruction to bank to pay another person from your account |
| p.i.n | personal identification number |
| a.t.m | automated teller machine |
| d.i.r.t | deposit interest retention tax |
| endorsing a cheque | writing your name on the back of a cheque to pass it on to someone else |
| post dated cheque | cheque dated in the future |
| antedated cheque | cheque dated in the past |
| S.O | standing order |
| O.D | over draft |
| B.D | bank draft |
| D.D | direct debit |