Show:
Opening an Account
Writing Checks
Keeping Records & Endorsing Checks
Reconciling
21st Century Terms
100
Card signed by individual opening account and kept on file to confirm account.
What is a signature card?
100
Written order to a bank to pay a stated sum from the drawer’s account.
What is a check?
100
Personal record of your checking account; paper or electronic.
What is a check register?
100
Monthly record sent/available to account holder summarizing all transactions.
What is a bank statement or account statement?
100
Credit from the source straight to the banking account.
What is direct deposit?
200
Transactional deposit account at a financial institution that allows for unlimited withdrawals and deposits.
What is a checking account?
200
Check deposited more than six months after the date on the check.
What is a stale check?
200
Signing of a document that allows for legal transfer from one party to another.
What is an endorsement?
200
Checks written, but not cleared.
What are outstanding checks?
200
Plastic card that provides the cardholder access to his/her bank account.
What is a debit card?
300
When do you sign on the line on a deposit slip?
When you are receiving cash back.
300
Request to a financial institution to cancel a check or payment that has not been processed yet.
What is a stop payment?
300
Endorsement used to transfer a check to another person.
What is an endorsement in full?
300
What is the first step of reconciliation?
Identify transactions where you & bank agree and check them off in the register.
300
Electronic banking outlet; lets customers complete basic transactions without a teller.
What is an ATM (automated teller machine)?
400
When making a deposit, the availability of funds depends on what two things?
Day of the deposit AND type of deposit.
400
What do you write in the "Memo" or "For" section of a check?
If required, an account number or license number. If nothing is required, then whatever you want or leave it blank.
400
The left side of the check when looking at the front of it.
What is the trailing edge?
400
What is the 2nd step of reconciliation?
Add missing transaction(s) from bank statement to your register (and check off).
400
Allows individuals to perform banking activities from home or smartphone (mobile banking) via Internet.
What is online or mobile banking?
500
What are 3 benefits of a checking account?
Can write checks, avoid carrying cash, receive a monthly statement, useful for budgeting.
500
What is a routing number and where is it found on a check?
Number used to identify a financial institution in a transaction. Bottom, left-hand corner (before your account number).
500
What are the 7 column headings on a check register?
Number, Date, Transaction Description, Debit, Check Mark, Credit and balance.
500
What is the 3rd step of reconciliation?
Seeing what you have (register) that the bank statement doesn't have, filling out the reconciliation form and making sure the balances match.
500
Signing up to let a company pay themselves monthly.
What are automatic payee-initiated payments?