Deposits and Depositories-Part 1
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19 terms
Terms | Definitions |
|---|---|
 Acceptability | a negotiable instrument meeting certain criteria and therefore being acceptable for cashing |
| Account | credit established under a particular name, usually by deposit, against which withdrawls may be made; also a record of the the fincial transactions affecting a particular phase of business |
| Account activity | information about the transactions of an account |
| Annual percentage rate | the cost of a loan from the borrow's point of view |
| balance | amount credited to the depositor's account, representing the amount he or she entitled to withdraw |
| Bank Acceptance | draft drawn on a bank and accepted by the bank |
| Beginning cash | cash in the teller's drawer at the start of the day |
| Cash in | cash received; credit items |
| Cash items | for balancing, including checks, debit tickets, coupons, and any item that represents a part of a teller's cash balance, other than U.S. currency and coins |
| Cash out | cash distributed; debit tiems |
| Commercial | related to business entitites as opposed to reail entitites |
| Commercial bank | state or nationally chartered organization, owned by stockholders, that accepts demand deposits, makes short-term business loans, and provides a variety of other financial services |
| Credit | cash received; to add a sum of money to an account; an entry that decreases assets or increases liabilities |
| Credit ticket | bank bookkeeping memorandum or posting medium on which the transaction leading to a credit entry in a gernal ledger account is describe in detail |
| Cross-selling | encouraging an existing customer to make use of additional bank products |
| Customer expectations | the services customers expect to find in a bank and, especially, how they anticipate being treated |
| Customer service representative | bank employee who usually sits at a desk and meets the nontransaction needs of customers |
| Debit | entry that increases an asset account and decreases a liability or equity account; a charge to a customer's bank card account; a charge against a bank deposit account |
| Debit ticket | bank bookkeeping memorandum or posting medium on which the transaction leading to a debit entry in a general ledger account is desribed in detail |
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