Deposits and Depositories Part 3
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Created by:
jazziijazz on January 19, 2010
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20 terms
Terms | Definitions |
|---|---|
 Overage | amount by which cash or its equivalent exceeds the figure it was intended to equal |
| Overdraft | amount owing to a bank by reason of paying an item or items drawn against insufficient funds; an item drawn against insufficient funds whether or not paid by the bank |
| Overdraft protection | a service offered to demand deposit customers whereby a line of credit is associated with the individual's account |
| Passbook | a book supplied by a bank to a depositor for record purposes |
| Payee | party to whom a check is payable; may be transferred to another party |
| Payor bank | bank that is paying out funds |
| Postdated check | a check dated ahead; not payable until the date specified |
| Quality service | occurs when bank personnel feel a total commitment to fully meeting the needs of customers in a speedy, error-free fashion |
| Receiving teller | a bank employee who receives and verifies deposits and makes entries in passbooks or otherwise issues receipts for deposits |
| Register check | a check form used by customers as an alternative to drawing on a checking account; cashier's check, money order, or bank draft |
| Satisfied customer | a result of meeting customer expectations and a cause of increased business for the bank |
| Service charge | a fee charged to depositors for services rendered, usually in connection with checking accounts |
| Signature card | a card or document that sets forth the written contract between the bank and the depositor and is signed by the depositor when an account is opened |
| Split deposit | a deposit in which the customer cashes a check and deposits part of the proceeds into his or her account; loss occurs if the check is drawn against insufficient funds |
| Staledated check | a check that has been held an unreasonably long time after issue before being presented for payment to the bank on which it is drawn (usually six months) |
| Stop payment | notification that a restriction has been placed on one's ability to cash a check |
| Stop payment order | an order (or request) by a depositor to the bank that refuses payment of an item specified by the depositor |
| Time deposit account | funds deposited under an agreement having certain stipulations |
| Treasury bill (T-bill) | a certificate showing a short-term obligation of the U.S government |
| Yield | in investments, the rate of return on an investment expressed as a percentage of the investment |
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