The performance of banking activities via the Internet
What is online banking
100
When an asset cannot be easily converted into cash
What is illiquidity
100
Least dollar amount customer must maintain in an account in order to keep account open
What is minimum balance requirement
100
An electronic card issued by a bank which allows customers access to their checking account
What is debit card
100
A check written by a financial institution on its own funds.
What is cashier's check
200
An asset that can be easily exchanged for cash. Can be bought or sold without affecting the assets price.
What is liquidity
200
When a account cannot provide enough funds to satisfy the demand for payment
What is insufficient funds
200
A unique number on the bottom of the check that identifies a specific bank and a specific account
What is check routing number
200
Transactional deposit account
What checking account
200
Loan aquired by property offered by borrower to secure the loan
What is collateralized loan
300
An institution for receiving, lending, exchanging, and safeguarding money.
What is bank
300
Linking of accounts to prevent overdrawing your account
What is overdraft protection
300
A record summarizing all transactions in an account over a specific time period
What is bank statement
300
A deposit account that provides principal security and small rate of interest
What is savings account
300
A check where the issuing bank guarantees the recipient of the check that there is enough cash in the holder's account to be transferred when the check is cashed
What is certified check
400
Member owned financial instution for receiving, lending, exchanging, and safeguarding money
What is credit union
400
Also known as a rubber check or a bad check
What is bounced check
400
A legal term that refers to the signing of a document which allows for the legal transfer of a negotiable from one party to another.
What is endorsement
400
An interest bearing deposit account that pays higher interest than savings accounts and provides limited check writing ability
What is money market account
400
A maximum loan amount that the bank will allow the borrower to borrow at any given time,revolving loan
What is line of credit
500
Corporation insuring deposits in the U.S. against bank failure.
What is FDIC
500
Illegal writing of checks
What is check fraud
500
An accounting process used to compare two sets of records to ensure the figures are in agreement and accurate
What is reconcile
500
A savings depository account that pays fixed interest, has a maturity date, but cannot be redeemed before the maturity date without penalty
What is certificate of deposit
500
A certificate that allows the stated payee to receive cash on demand, usually issued by governments, banks, or retail stores