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making payments

first year business studys

TermDefinition
cheque a writing instruction to pay another person money from your current account
drawer the person you are giving the cheque to
payee the person we want to pay the money to
drawee the bank where we have the account
cheque r/d what marks a dishonoured cheque
stopped cheque when the account holder tells the bank not to cash the cheque
endorsing a cheque a cheque is endorsed when the person named on the back of the cheque signs his/her name on the back of the cheque
crossing a cheque this means drawing two parrallel lines across the front of the cheque
general crossing &co.
special crossing this means a cheque can only be cashed in a certain bank
post dated cheque a cheque that cannot be cashed until a certain date is reached
antedated cheque a cheque dated sometime in the future
blank cheque a cheque that has missing information
pin used to work an atm
atm automated tellor device
debit card a card that allows you to pay for goods and services
credit card a card like a debit card but with a credit limit
EFTPOS electronic funds transfer at point of sale
direct debit is when you allow a person or business to take money for your account
standing order when you ask your bank to pay a fixed amount of money into a different bank account
credit transfer a way of paying bills
bank draft a convenient way of making expensive purchases
paypath when in employers can put money directly into their employees account
travellors cheque cheques printed in various amounts of different currency
Created by: pchbusinessliam
Popular Business sets

 

 



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