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100
A bank account in which money may be deposited and debit transactions made or checks written against.
what is a checking account
100
are the preferred method of payment commonly used today.
what are debit and credit cards
100
The purchaser pays the bank the full amount of the check.
what is a cashiers check
100
when an amount is sent electronically by the payer directly into a savings or checking account of the payee
what is direct deposit
100
If a stop payment is placed on a check, the bank will:
what is refuse to honor the check
200
A bank account from which the depositor can earn interest
what is a savings account
200
let a customer make payments to a business by withdrawing funds directly from their personal checking account
what is a debit card
200
The bank stamps the customer’s own check certified and then holds the certified amount in reserve in the customer’s account until the check is cashed.
what is a certified check
200
Put all bills of the same denomination together.
Face bills the same direction, portrait side up.
Stack in order from highest to lowest denomination (e.g., 50s, 20s, 10s, and 5s, with 1s at the top of the stack).
how should currency be sorted
200
not a type of savings account
what is personal checking account
300
a charge for a purchase or a check written is more than the amount in the bank account.
what is an overdraft
300
allow customers to make payments or purchases by drawing from a reserved line of approved credit.
what is a credit card
300
A check paid directly from a checking account through the Internet.
what is an electronic check
300
what is a bank deposit
300
___________ is a digital or virtual currency that uses cryptography for security, making it difficult to counterfeit.
what is cryptocurrency
400
occurs when money is removed from the account
what is a withdrawal
400
all cash should be stored in
what is a lockbox
400
what are the seven components of a check
400
process to bring checkbook and bank statement into agreement.
what is reconciling
400
the term used for cash we use in our society
what is currency
500
A ____ check is a check presented too long after it was written to be honored by the bank.
what is stale
500
A check must include some form of this phrase to be negotiable
what is pay to the order of
500
The _____ is the amount in numbers that the check is written for.
what is numeric amount
500
If a mistake is made in writing a check, it is necessary to write “_____” across the check and stub and write a new one.
what is void
500
The person to whom the check is written is known as the ________.
who is the payee