Banking Terms

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  • Created by: KatyX97
  • Created on: 04-04-15 12:41
Drawer
Person/Business using a cheque for payment
1 of 10
Payee
Person/Business to whom cheque is made payable
2 of 10
Standing Order
Authority given to bank to make fixed, regular payments on behalf of customers
3 of 10
Direct Debit
Authority given to third party for fixed or variable amounts to be paid to that third party
4 of 10
BACS
Bankers Automated Clearing Services. Computer system for making payment transfers
5 of 10
Credit Transfers
Where money is paid directly from bank account to bank account
6 of 10
Bank Giro Credit
Paying-in slip
7 of 10
Bank Charges
Charge made by bank for maintenance of bank account
8 of 10
Dishonoured Cheques
Cheques which are not met by drawers bank- usually due to insufficient funds or because drawer has 'stopped' the cheque
9 of 10
Lodgements
Payments made into the bank
10 of 10

Other cards in this set

Card 2

Front

Person/Business to whom cheque is made payable

Back

Payee

Card 3

Front

Authority given to bank to make fixed, regular payments on behalf of customers

Back

Preview of the back of card 3

Card 4

Front

Authority given to third party for fixed or variable amounts to be paid to that third party

Back

Preview of the back of card 4

Card 5

Front

Bankers Automated Clearing Services. Computer system for making payment transfers

Back

Preview of the back of card 5
View more cards

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