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Commercial Bank financial institution that accepts demand deposits and makes loans and provides other financial services for the public e.g permanent tsb or AIB.
Deposit A/C account which you can keep liquid assets get interest but can not be used directly as money (for example, by writing a cheque). Although not as convenient as current a/c, these a/c's let customers keep liquid assets while still earning a monetary return.
Current A/C account, securely and quickly providing frequent access to funds on demand, through a variety of different channels (e.g. laser, chequebook, credit card).
Cheque a written order directing a bank to pay money to the persons name on the cheque; money comes out of your account.
Drawer the person who owns the bank account.
Drawee the bank e.g AIB.
Payee the person who is getting paid by the cheque.
Crossing a Cheque drawing two parallel lines on cheque means it can only be put into a bank account & Co.; Branch payee account only
Endorsing a Cheque payee writes name on back of cheque so they can pay someone else with it.
Post Dated Cheque cheque with future date. can't be cashed until then.
Stale Cheque cheque over six months old. can't be cashed.
Blank Cheque cheque with important detail missing. e.g amount, date, payee, signature,
Bounced Cheque cheque that can not be cashed not enough money in account.
Overdraft bank lets you spend a little more money than you have in your bank account.
Direct Debit current a/c financial service, transfer variable moneys e.g ESB bill.
Standing Order current a/c financial service, transfer FIXED moneys e.g €10 per month to charity.
Paypath electronic funds transfer scheme, wages get paid straight from employer a/c to employee account.
Credit Cards card entitling its holder to buy goods/services based on holder's promise to pay for these. The issuer of the card grants a
Laser Card electronic POS debit card can use by telephone and internet. no maximum limit on a Chip and Pin transaction, and a EUR 1,500 maximum limit on all other transactions. cashback option available
Bank Draft is like a cheque you give the bank an amount of money and they give you a cheque of the same amount.written order a check guaranteed by a bank. a check guaranteed by a bank. usually treated as cash since most banks clear them instantly directing a bank
Created by: businesspook



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