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Glossary of TERMS AND DEFINITIONS

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WHAT IS AN ENDORSEMENT
A PAYEE SIGNATURE ON THE BACK OF A CHECK
WHAT IS A ENDORSER
PAYEE ON THE CHECK
WHAT IS AN ABA #
A CODE FOUND IN THE RIGHT UPPER CORNER OF A PRINTED CHECK
ORIGINATED BY ABA
IT ID'S WHERE THE BANK IS LOCATED
BUSINESS CHECKS ABA WILL APPEAR WITH A SLASH
ELECTRONIC FUND TRANSFER SYSTEM
MOVES MONEY WITH OUT A CHECK OR DEPOSIT SLIP
DEPOSIT RECORD
A SLIP GIVEN TO CUSTOMER AT THE TIME OF DEPOSIT SERVES AS PROOF
CASHIER CHECK
A QUARANTEED CHECK WRITTEN BY THE BANK UPON FULL PAYMENT
BANK BOOK
KEEPS RECORD OF THE ACCOUNT
MICR
PRINTED MAGNETIC INK ON CHECKS AND DEPOSIT SLIPS
1ST ID'S THE CHECK
2NDID'S THE ACCOUNT NUMBER
3RDID'S THE CHECK NUMBER
WHEN PROCESSED ADDITIONAL MICR# ARE ADDED WHICH ID'S CHECK AMOUNT
BANK STSAEMENT
KEEPS A RECORD OF A CHECKING ACCOUNT SHOWING:
BEGINING BALANCE
DEPOSITS MADE
CHECKS DRAWN
CLOSING BALANCE
CERT. CHECK
AMOUNT IS HELD IN CUSTOMERS ACCOUNT UNTIL CHECK IS CASHED
ACCEPTED WHEN A PERSONAL CHECK IS NOT

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