Chapter 17 Banking and Financial services

The Federal Reserve system (fed) supervises and regulates member banks

• TRUE

• False

A fee a bank charges for handling a checking account is a penalty

• Service Charge

• Service option

• services

A credit card is used for ATM transactions.

• Debit Card

• Credit card

A cease and desist order is written notice to the bank not to pay a check.

• stop payment

• Stop Payment order

• Stop Order

Electronic funds transfewr uses technology for banking activities.

• False

• True

A certified check is a check that a bank draws on its own funds.

• Cashier Check

• Cashier's Check

• cashiers check

Banks Offer safe deposit boxes for the strorage of valuables.

• True

• False

An Endorsement is written evidence that you received payment.

• True

• False

Make loans based on the value of smoe tangible object, such as Jewelery.

• Stored Value Cards

• Pawnshops

• Joint account

• Check register

Prepaid cards for items such as phone service are called

• Check Register

• Stored-Value cards

• joint account

• check register