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CHECKING ACCOUNT ( Bank Statement )

A bank statement or account statement is a summary of financial transactions which have

occurred over a given period on a bank account held by a person or business with a financial
Bank statements have historically been and continue to be typically printed on one or several
pieces of paper and either mailed directly to the account holder, or kept at the financial
institution's local branch for pick-up. In recent years there has been a shift towards paperless,
electronic statements, and some financial institutions offer direct download into account holders
accounting software.
Some ATMs offer the possibility to print, at any time, a condensed version of a bank statement,
commonly called a transaction history, or a transaction history may be viewed on the financial
institution's website or available via telephone banking.

A check is a document[nb 1] that orders a bank to pay a specific amount of money from a person's
account to the person in whose name the cheque has been issued. The person writing the cheque,
the drawer, has a transaction banking account (often called a current, cheque, chequing or
checking account) where their money is held. The drawer writes the various details including
the monetary amount, date, and a payee on the cheque, and signs it, ordering their bank, known
as the drawee, to pay that person or company the amount of money stated.
Cheques are a type of bill of exchange and were developed as a way to make payments without
the need to carry large amounts of money. While paper money evolved from promissory notes,
another form of negotiable instrument, similar to cheques in that they were originally a written
order to pay the given amount to whomever had it in their possession (the "bearer").

Short-term (usually less than one year, typically three months) maturity promissory note issued
by a national (federal) government as a primary instrument for regulating money supply and
raising funds via open market operations. Issued through the country's central bank, T-bills
commonly pay no explicit interest but are sold at a discount, their yield being the difference
between the purchase price and the par-value (also called redemption value). This yield is closely
watched by financial markets and affects the yield on municipal and corporate
bonds and bank interest rates. Although their yield is lower than on other securities with
similar maturities, T-bills are very popular with institutional investors because, being backed by
the government's full faith and credit, they come closest to a risk free investment.

A time deposit is an interest-bearing bank deposit that has a specified date of maturity. A deposit
of funds in a savings institution is made under an agreement stipulating that (a) the funds must be
kept on deposit for a stated period of time, or (b) the institution may require a minimum period
of notification before a withdrawal is made.

Commercial paper
Commercial paper, in the global financial market, is an unsecured promissory note with a
fixed maturity of no more than 270 days.
Commercial paper is a money-market security issued (sold) by large corporations to
obtain funds to meet short-term debt obligations (for example, payroll), and is backed only by an
issuing bank or corporation's promise to pay the face amount on the maturity date specified on
the note. Since it is not backed by collateral, only firms with excellent credit ratings from a
recognized credit rating agency will be able to sell their commercial paper at a reasonable price.
Commercial paper is usually sold at a discount from face value, and generally carries lower
interest repayment rates than bonds due to the shorter maturities of commercial paper. Typically,
the longer the maturity on a note, the higher the interest rate the issuing institution pays. Interest
rates fluctuate with market conditions, but are typically lower than banks' rates.

Preference Share
A share certificate is a written document signed on behalf of a corporation, and serves as legal
proof of ownership of the number of shares indicated.
Also referred to as a "stock certificate".

Any shares that are not preferred shares and do not have any predetermined dividend amounts.
An ordinary share represents equity ownership in a company and entitles the owner to a vote in
matters put before shareholders in proportion to their percentage ownership in the company.
Ordinary shareholders are entitled to receive dividends if any are available after dividends on
preferred shares are paid. They are also entitled to their share of the residual economic value of
the company should the business unwind; however, they are last in line after bondholders and
preferred shareholders for receiving business proceeds. As such, ordinary shareholders are

considered unsecured creditors.Also known as "common stock".


A type of check where the payment is guaranteed to be available by issuing bank. Typically,
banks will review the bank draft requester's account to see if sufficient funds are available for the
check to clear. Once it has been confirmed that sufficient funds are available, the bank effectively
sets aside the funds from the person's account to be given out when the bank draft is used.

Money order
A money order is a payment order for a pre-specified amount of money. As it is required that the
funds be prepaid for the amount shown on it, it is a more trusted method of payment than a
A money order is purchased for the amount desired. In this way it is similar to a certified cheque.
The main difference is that money orders are usually limited in maximum face value to some
specified figure (for example, the United States Postal Service limits domestic postal money
orders to US $1,000.00 as of April 2015) while certified cheques are not. Money orders typically
consist of two portions: the negotiable cheque for remittance to the payee, and a receipt or stub
that the customer retains for his/her records. The amount is printed by machine or checkwriter on
both portions, and similar documentation, either as a third hard copy or in electronic form and
retained at the issuer and agent locations.