CH 32

Void

(1) to pass urine from the urinary bladder; to make ineffective or invalid; (2) by writing VOID across the front of a check it "disables" the check so it cannot be used

Automated Teller Machine (ATM)

a banking machine operated by inserting a credit or bank card and entering a personal identification number (PIN) code. Deposits, transfers, withdrawals, and other banking functions can be performed at the ATM location 24 hours a day, seven days a week.

Mobile banking

a banking method that allows the bank customer to perform banking actions on his or her cell phone or other mobile device

Denomination

a category or classification of currency.

Outstanding check

a check you have written that does not appear on your bank statement because the payee has not yet cashed the check

Register

a formal or official recording of items, names, or actions; a record of money that has been spent; a record showing the check number, person to whom the check is paid, amount of the check, date, and balance.

Stop payment

a method by which the maker of a check may stop payment of a check(s) written

e-statement

a paperless bank statement

Payee

a person to whom money is paid

Deposit record

a record of a financial deposit that is given by the bank to the customer at the time of the deposit.

Bank statement

a record of an account sent to the account holder, usually on a monthly basis, showing the beginning balance, all deposits made, all checks drawn, all bank service charges and interest earned, and the closing balance.

Withdrawl

a removal of something that has been deposited

Deposit slip

a slip accompanying a bank deposit and containing an itemized list of checks or cash deposited, the date, and the depositor's signature.

Overdraft

an amount beyond what is currently in the account

Currency

any form of money; the name given to the cash we use in our society.

Negotiable

capable of being discussed and terms arranged; a check is a negotiable instrument drawn against deposited funds to pay a specified amount to a person or business upon demand.

Transaction

dealing accomplished

Agent

one that acts or has the power or authority to act for another.

Reconciling

process to bring checkbook and bank statement into agreement

Endorser

signature on the back of the check of the payee

Third-party

someone other than the two principals in a transaction; when referring to checks, a type of check made out to the patient by another unknown person

Authorization

the giving of authority.

endorsement

the payee's signature on the back of a check. It is a transfer of title on the check to the bank in exchange for the amount of money on the face of the check.

Payer

the person who signs the check or the corporation that pays it. The payer is also known as the maker

Online banking

the practice of making bank transactions or paying bills electronically via the Internet

Deposit

to entrust money to a bank or other institution; money (cash or checks) put into an account, increasing the account balance.

Direct Deposit

when an amount is sent electronically by the payer directly into a savings or checking account of the payee