General banking

General banking

Banking related terms and phrases in general.

Industry: Banking

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General banking

drawer

Banking; General banking

The person who writes a check or draft instructing the drawee to pay someone else.

electronic banking

Banking; General banking

A service that allows an account holder to obtain account information and manage certain banking transactions through a personal computer via the financial institution's Web site on the Internet. ...

Electronic check conversion is a process in which your check is used as a source of information-for the check number, your account number, and the number that identifies your financial institution. ...

electronic funds transfer (EFT)

Banking; General banking

The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, ...

embezzlement

Banking; General banking

In most States, embezzlement is defined as theft/larceny of assets (money or property) by a person in a position of trust or responsibility over those assets. Embezzlement typically occurs in the ...

encoding

Banking; General banking

The process used to imprint or inscribe MICR characters on checks, deposits, and other financial instruments. (Magnetic Ink Character Recognition (MICR) is a character-recognition technology adopted ...