Term
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Term
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making payments
first year business studys
Term | Definition |
---|---|
cheque | a writing instruction to pay another person money from your current account |
drawer | the person you are giving the cheque to |
payee | the person we want to pay the money to |
drawee | the bank where we have the account |
cheque r/d | what marks a dishonoured cheque |
stopped cheque | when the account holder tells the bank not to cash the cheque |
endorsing a cheque | a cheque is endorsed when the person named on the back of the cheque signs his/her name on the back of the cheque |
crossing a cheque | this means drawing two parrallel lines across the front of the cheque |
general crossing | &co. |
special crossing | this means a cheque can only be cashed in a certain bank |
post dated cheque | a cheque that cannot be cashed until a certain date is reached |
antedated cheque | a cheque dated sometime in the future |
blank cheque | a cheque that has missing information |
pin | used to work an atm |
atm | automated tellor device |
debit card | a card that allows you to pay for goods and services |
credit card | a card like a debit card but with a credit limit |
EFTPOS | electronic funds transfer at point of sale |
direct debit | is when you allow a person or business to take money for your account |
standing order | when you ask your bank to pay a fixed amount of money into a different bank account |
credit transfer | a way of paying bills |
bank draft | a convenient way of making expensive purchases |
paypath | when in employers can put money directly into their employees account |
travellors cheque | cheques printed in various amounts of different currency |