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Chapter 23 Banking Services and Procedures

UNIT 5 FINANCIAL AND PRACTICE MANAGEMENT
STUDY
PLAY
disclaimer
A denial of responsibility; a denial of a legal claim.
drawee
A bank or facility on which a check is drawn or written.
drawer
The person who writes a check.
e-banking
Electronic banking via computer modem or over the Internet.
endorser
The person who signs his or her name on the back of a check for teh purpose of transferring title to another person.
holder
The person who presents a check for payment.
maker
Any individual, corporation,or legal party who signs a check or any type of negotiable instrument.
m-banking
Banking through the use of mobile devices, such as cell phones and wireless Internet services.
negotiable
Legally transferable to another party.
payee
The person named on a draft or check as the recipient of the amount shown.
payer
The person who writes a check in favor of the payee.
power of attorney
A legal statement in which a person authorizes another person to act as his or her attorney or agent. The authority may be limited to the handling of specific procedures. The person authorized to act as the agent is known as the attorney in fact.
principal
A capital sum of money due as a debt or used as a fund for which interest is either charged or paid.
reconciliation
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Uniform Commercial Code (UCC)
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