Superlibreta +bank statement

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  1. What happens when a bank receive checks?
  2. How is a bank statement reconciled?
  3. write three reason why a bank dishonor a check
  4. what is the meaning of (E. F. T)? Explain the definitions
  5. how do we control payments through (E.F.T)

             Answers

  1.  the amount of each check is deducted from the depositors account
  2.  a bank statement is reconciled by verifying that information on a bank statement and a checkbook are in agreement
  3. -The signature is absent or doesnt match.                                             -name of the payee is absent or not clearly mentioned.                     -insufficient balance in the account to meet the payment.
  4. Electronics funds transfer: a computarized cash payments. System that transfers funds without the use of checks, currency, or other paper documents.
  5. The person responsible for requesting transfer should be given a password. The book should not accept EFT requests from any person unable to provide an established password.





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