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Intro to Bus Chpt 29

Intro to Business Chapter 29

TermDefinition
check written order directing a bank to pay money on demand to the person or company names on it
direct deposit the electronic transfer of a payment directly from the payer's bank account to the account of the person being paid
interest-bearing account an account that earns interest on the balance for the depositor
signature card a record of a bank customer's signature used by the bank to verify the customer's identity
overdrawn having written checks for more money than the balance in the account
overdraft protection a line of credit for overdrawn checks
stop payment an order for a bank not to cash a particular check
debit card bank card that immediately takes money from a checking account when it is used
check register checkbook log in which an account holder records checking account transactions
endorsement signature of the payee on the back of the check
bank statement the bank's record of all the transactions in a bank account
canceled checks checks that have been cashed
bank reconciliation process of seeing whether an account holder's records agree with a bank's records for an account
outstanding checks checks that have been written but have not been cashed
demand an urgent request
common shared by two or more parties
compare to examine and note the similarities or differences of
design to devise for a specific function or end
route an established or selected course, travel, or action
trace discover signs, evidence, or remains of
valid having legal efficacy or force
alteration the act of making something different
Created by: cogar.ma