Checks
Endorsements
Using/Starting a Checking Account
RANDOM
100
It is the owner of the account who writes the check and puts there name in the top left corner of a check.
What is a Drawer?
100
A signature on the back of a check.
What is an Endorsements.
100
This process starts with providing personal data and a sample of your signature. Documents needed to perform this process is your legal name, address, phone, social security number, drivers license and email address.
What is Opening a Checking Account?
100
A personal check for which a bank has guaranteed payment. The certification is stamped on the face of the check and is signed or initialed by a bank officer.
What is a Certified Check?
200
A check that you have written to somebody, but they have not deposited it or cashed it.
What is an outstanding check?
200
What is the use of an endorsement?
What is verification that you the person a check is written to.
200
This type of account consists of two or more people. In order to create this account, each person will have to provide a sample signature. Anybody in the account has the capability to write checks as if he/she were the only owner. (Usually for married couples)
What is a Joint Account
200
A document sent to account holders at a bank, created to show the costumer how their balance was agreed upon. (Will include; checks paid by the bank during the month, any interest earned on the account, and many other things)
What Bank Reconciliation?
300
It is located on the bottom of a check it identifies you to a bank.
What is a account number?
300
This type of endorsement limits the use of a check. This means that the check can only be used in a certain way, or to serve a certain purpose.
What is a Restrictive Endorsement/Special Endorsment
300
A form you would fill out in the event you needed to cancel a payment.
What is a stop payment order?
300
A document sent by the bank that is refers to as a "balance sheet" or "snapchat' in our class. (Usually comes monthly to the account holder).
What is a Bank Statement?
400
It stands in the bottom left of a check and represents the bank ID.
What is the Routing Number?
400
Gives the bank concent by its receiver to use it for the purpose stated?
What does an endorsement verify?
400
It is form attached to a check by a perforated line. This allows you to maintain a record of the checks you have written.
What is a Check Stub?
400
Similar to a check, this form is an alternative way to send money. Typically used by someone who does not own a checking account.
What are Money Orders
500
The part of a check that the bank reads to determine its value.
What is the amount in words?
500
What type of endorsement needs two signatures?
What is a two signature endorsement.
500
It is another type of way to maintain you record of checks that you have written. Unlike a check stub, this is a separate book and usually is the same size as a check book.
What is Check Register
500
Where you write the purpose of the check.
Bottom left corner.
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