- What happens when a bank receive checks?
- How is a bank statement reconciled?
- write three reason why a bank dishonor a check
- what is the meaning of (E. F. T)? Explain the definitions
- how do we control payments through (E.F.T)
- the amount of each check is deducted from the depositors account
- a bank statement is reconciled by verifying that information on a bank statement and a checkbook are in agreement
- -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.
- Electronics funds transfer: a computarized cash payments. System that transfers funds without the use of checks, currency, or other paper documents.
- 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.