What are the two TYPES of Bank Account
Saving Checking or Current Accounts
This slip is used to take out money to the depositor's account.
Withdrawal Slip
There are instances that the depositor cannot attend personally to withdraw the funds, he may authorize a ___________.
REPRESENTATIVE
The check bounces because the money (thru check) that were deposited in your account are still floating, what type of check is this?
DAUD (Drawn Against Uncleared Deposits) Chck
The person or entity who makes the check
DRAWER
Transactions are logged in this small booklet that the depositor keeps. What it is?
Passbook
This is the unique identifier given by the bank for every account maintained?
Account Number
A document where the bank gives to the depositor showing the movement of the account, they are usually given at the end of every month.
Bank Statement
A stale cheque is a cheque that a bank will not accept and exchange for money or payment because it was written more than a certain number of months ago.
In the Philippines, a check becomes stale if it exceeds ______ from the date of the check.
Six Months
BPI Express Assist (BEA)
In this TYPE of account, the funds can be withdrawn anytime.
ATM (Automated Teller Machine) Account
The most important part of the withdrawal slip.
Signature of the Depositor
Monthly fee charged by the bank for its services (Ex. cost of printing checks writing funds to other locations and other fees)
Bank service charge
Banks also use a debit memorandum when a deposited check from a customer “bounces” because of inadequate funds.
NSF - (Not Sufficient Fund)
The recipient of the money
PAYEE
True or False: The interest rate for checking accounts is usually lower as compared to a savings account.
TRUE
This slip is used to put in money to the depositor's account.
Deposit Slip
TRUE OR FALSE. You need to present an ID when depositing.
FALSE.
Check bounces because of the insufficiency of its deposited money, it may be DAIF or DAUD, DAIF means?
Drawn Against Insufficient Fund
An employee of a bank who deals directly with customers.
TELLER/BANK TELLER
TYPE of account which held for a fixed-term and can be withdrawn only after the lapse of the agreed period and by giving notice to the bank.
Time Deposit Account (Certificate of Deposit Account)
Without a withdrawal slip, the bank will allow you to get money from your account. TRUE OR FALSE?
FALSE
This is earned by the depositor for the money he/she deposits.
Interest/Interest Income
This check cannot be encashed over the counter by the payee. It should be deposited into the payee's account.
It is usually done by writing two parallel lines on the upper left portion of the check.
Cross Check
The bank or other financial institution where the cheque can be presented for payment
DRAWEE