Terms/Questions per Day
Terms
47 new/unreviewed 47 total
Term
Automated Clearing House (ACH)
Definition
a type of payment system designed to allow corporations and consumers to reduce or eliminate the use of paper checks when making routine high-volume, low value payments. Salaries, consumer and corporate bill payments, interest and dividend and social security uses this.
New/Unreviewed
Term
Automatic Teller Machine (ATM) Card
Definition
a payment card issued to a person for activating Automated Teller Machines
New/Unreviewed
Term
Correspondent Bank
Definition
a bank that holds deposits for other banks and performs services, such as check clearing. The deposit balance is a form of payment for services
New/Unreviewed
Practice Test Scores
Practice Tests
0 total
(None) Completed practice tests will show up here