10-2 The Language of Banking

The flashcards below were created by user h.aguilar1990 on FreezingBlue Flashcards.

  1. Agent-
    One that acts or has the power or authority to act for another.
  2. Certified-
    Holding a certificate; being certificated; guaranteed in writing.
  3. Collateral-
    Subordinate, secondary; property deposited as security for a loan.
  4. Currency-
    Any form of money.
  5. Debit-
    to deduct, to charge.
  6. Deposit-
    To entrust money to a bank or other institution.
  7. Endorsement-
    The act of endorsing; approving.
  8. Insufficient-
    Not as much as needed.
  9. Limited Check-
    A check that will be marked void if written for more than a certain amount. This type of check is often used for payroll or insurance payments.
  10. Negotiable-
    Capable of being discussed and terms arranged.
  11. Overdraft-
    An amount beyond what is currently in the account.
  12. Payee-
    A person to whom money is paid.
  13. Power Of Attorney-
    a legal document authorizing a person to act as another’s attorney, legal representative, or agent.
  14. Promissory-
    Containing a pledge to pay.
  15. Transaction-
    Dealing accomplished
  16. Voucher-
    A document that serves as proof that terms of a transaction have been met.
  17. Warrant-
    To justify, to give definite assurance as to the value of; to authorize.
  18. Withdrawal-
    A removal of something that has been deposited.
Card Set
10-2 The Language of Banking
Medical Assisting
Show Answers