Vocabulary
Organization that provides services related to money.
Financial Institution
Business in which the primary function is to receive, transfer, and lend money to individuals, businesses, and governments.
Commercial Bank
Written order for the bank to pay a specific amount to the person to whom the check is written.
Check
Some financial institutions rent these boxes within their vaults to customers for the storage of valuables.
Safe-Deposit Box
Signature on the back of a check. Its purpose is to transfer ownership of the check from you to the bank.
Endorsement
Process of transferring money from one individual or organization to another.
Financial Exchange
Type of commercial bank that is locally owned and operated.
Community Bank
Bank account that allows the owner to make deposits, write checks, and withdraw money.
Checking Account
Individuals can use this to finance the purchase of cars, homes, and other items.
Loans
States what is being deposited and the amount of each item.
Deposit Slip
Anything of value that is accepted in return for goods or services.
Money
Financial institution that is owned by its depositors.
Mutual Savings Banks
Card that allows the holder to electronically access funds in an account at an ATM or to pay for goods and services from a business.
Debit Card
Request for a financial institution to refuse to honor a check written, if the check has not already cleared the account and been paid.
Stop-Payment Order
This endorsement requires only the signature of the payee.
Blank Endorsement
Financial institution that receives, lends, exchanges, and safeguards money.
Bank
Financial institution that provides banking services exclusively online.
Internet bank
Plastic card that allows the holder to make credit purchases up to an authorized amount.
Credit Card
A financial institution will honor a check even if it exceeds the account balance with this service.
Overdraft Protection
A check with this type of endorsement may be used only for the specific purpose stated in the endorsement.
Restrictive Endorsement
License authorizing a bank to operate. Federally chartered banks are called national banks and may use the word “national” in their names.
Charter
Bank account used by depositors to accumulate money for future use.
Savings Account
Services that a bank provides a customers with alternate ways of making payments.
Special Payment Services
Endorsement used to transfer a check to another party.
Special Endorsement