| Term | Definition |
|---|
| Federal Reserve System(FED) | to supervise and regulate member banks and to help banks serve the piblic efficiently. |
| Commercial Banks | The most common way for a bank to be organized. |
| Credit Union | A user-owned notfor-profit cooperative financial institution. |
| Federal Deposit Insurance Corporation | The Federal agency that helps to regulate banks and others financial institutions. |
| Safe-deposit box | For store age of valuables.ex.Jewelry,rare coins,Birth records. |
| Service Charge | A fee a bank chargesfor handiling a checking account. |
| Debit Card | Used for ATM transactions. |
| Endorsement | Is written evidence that you received payment or that your transferred your right of receiving payment to someone else. |
| Check Register | Ia a separate book, usually the same size as the checkbook. |
| Stop Payment Order | A written notice that tells the bank not to pay a certain check. |
| Bank Statement | A report on the status of your account usually Monthly. |
| Bank Reconciliation | A document created to show how the two balances were brought innto agreement. |
| Outstanding Checks | Checks that have not been deducted from the banks statement balance. |
| Reconciling the bank balance | Bringing the balances into agreement. |
| Substitute Check | A digital reproduction of the original paper check. |
| Check Stub | A Form attached to the check by a perforated. |
| Drawee | The bank or other financial institution that pays the check. |
| Payee | The person to whom the check is written. |
Combine with other sets
Share on Facebook
Share on MySpace