Processing customer transactions
The amount of interest a depositor earns on an interest-bearing deposit account without compounding interest.
Annual Percentage Rate (APR)
Banks earn non-interest income by charging customers:
Fees
Secured loans and lines of credit require the borrower to use ____________, which lessens the risk to financial institutions that lend money.
Collateral
What do we call this highly reliable and efficient nationwide batch-oriented electronic funds transfer system? Often payroll direct deposits go through this transfer system.
ACH
The nine digit number on a check used to identify the financial institution and assigned Federal Reserve bank is called the ________________________.
Routing number
The process of identifying customer's deposit (checking, savings, etc.) and time deposit (CD) accounts that are considered abandoned
Escheatment
The __________ requirement is the minimum funds that a bank must have on hand each night.
Reserve
Every currency transaction over _________ must be reported to the Internal Revenue Service using a Currency Transaction Report (CTR), within 15 days of the money transaction.
$10,000
What is it called when an account holder does not have enough money in the bank account to fully cover a debit, such as a written check, debit card transaction or an automatic payment?
Non sufficient funds
What does SHINE stand for?
SMILE, HANDSHAKE, INTRODUCE, USE CUSTOMERS NAME, MAINTAIN EYE CONTACT
How many straps are in a bundle
10 straps
How many districts does The Federal Reserve Bank have?
12
What do you call it when money is electronically transmitted from one bank to another?
Wire Transfer
When a check is deposited into the bank, the funds are always immediately available to the depositor.
true
Money laundering basically involves three steps what are they
placement , layering,Integration
_ is accounting for all of the transactions you do throughout the day from the time you open your cash drawer until the time you close out and take your cash drawer to the vault.
Balancing
What is the name of the independent agency of the U.S. government that insures bank deposits for $250,000?
FDIC
Activities used by criminals to process large amounts of cash obtained illegally through a bank account and making it look legitimate is called:
Money Laundering
This interest rate does not change during the period of the loan, allowing borrowers to rely on a stable monthly payment amount.
Fixed interest
This product is also known as a DDA account
checking
The amount of interest a depositor earns on an interest-bearing deposit account when the interest paid is compounded over the period of time it remains in the account.
Annual Percentage Yield (APY)
One way to prevent identity theft is by verifying the identity of each customer. To do this you need to ask for ___________________.
Identification
What should you do if you’re interrupted while counting money?
Start over
What do you call the value of a borrower’s property minus the outstanding balance of his or her primary mortgage loan?
Equity
Which regulation governs the availability of funds and determines how long a bank can hold funds?
Reg CC