Banking Word Scramble
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Term | Definition |
Bank- | A financial institution that handles money for its customers. |
Checks- | Commercial paper drawn on funds deposited and held in a bank account. |
Drawer- | The depositor, the person writing the check. |
Drawee- | The bank in which the drawer has money on deposit. |
Payee- | The party to receive the money as directed by the drawer. |
Negotiable Instruments- | The right to receive money on deposit can be transferred to someone else. |
Endorsement- | The payee acknowledges the right to receive the money by signing the back of check. |
Blank Endorsement- | The check has only the payee’s signature, thus making it payable to any bearer. |
Restrictive Endorsement- | Directs how the check is to be made payable: e.g for deposit only, pay to the order of, etc. |
Cashier’s Check- | Check signed by a bank official, that is directly drawn from a person’s account. |
Counter Check- | A check the bank prepares as a substitute for a regular. |
Money Order- | A kind of check that can be purchased at the post office as well as convenience stores. |
Signature Card- | A document used to verify a depositor’s signature. |
Deposit Ticket- | A printed bank form that identifies the money items placed into an account. |
Dishonered Check- | A check the bank refuses to pay generally because of insufficient funds. |
Overdraft- | Issuing a check without sufficient funds. Illegal in most states. |
Postdated Checks- | Checks dated after the date it was written. |
Check Stub- | Small form to the left of each check that contains space to record all relevant information about a check and checking account balance. |
Check Register- | Information recorded in a booklet maintained with the bound checks. |
Bank Statement- | A statement of account rendered to each depositor once a month by a bank. |
Outstanding Checks- | Checks that have been written between bank statement periods. |
Outstanding Deposits- | Funds entered in the account between bank statement periods. |
Debits- | Amounts that have been deducted from the account between bank statement periods. |
Credits- | Amounts that have been added to the account between bank statement periods. |
Reconciliation- | The process of adjusting bank statement and check register balances to determine the true balance of the account. |
Cancelled Check- | Checks that have been paid by the bank. |
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itsdelis
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