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ch.17.

QuestionAnswer
What is the Federal Reserve System? Set up by the federal government to supervise and regulate member banks and to help banks serve the public efficiently.
What is commerical bank? The most common way for a bank to be organized.
What is a credit union? A user-owned, not for profit, cooperative financial instituion.
What is a safe-deposit box? Offered by banks to store valuables.
What is service charge? A fee a bank charges for handling a checking account.
What is a debit card? Used for ATM transactions
What is an endorsement? Written evidence that you received payment or that you transferred your right of receiving payment to someone else.
What is a check register? A separate book usually the same size as the checkbook.
What is a stop payment order? A written notice that tells the bank not to pay a certain check.
What is a bank statement? A report on the status of your account sent by the bank
Created by: morgie.marie
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