Collection and disbursement techniques with it description

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Reference no: EM1316271

Collection or else disbursement techniques with it description

Match each collection or disbursement technique with its description.

(A) Playing the float

(B) Concentration banking

(D) Wire transfers

(E) Overdraft system

(F) Direct send

(G) Lockbox

(1) A future check written against a customer's checking account for an agreed-upon amount by the firm to which it is payable.

(2) Writing a check against money not currently in a checking account.

(3) The bank automatically covers all checks presented, even if there are insufficient balances.

(4) Telegraphic communications that, via bookkeeping entries, remove funds from the payer bank and deposit them in the account of the payee bank.

(5) Funds are transferred from the firm's regional bank to its central disbursing bank on a when-needed basis.

(6) The bank collects receipts in a post office box for the firm.

(7) Express mail is used to transport the check directly to the bank on which it is drawn.

Reference no: EM1316271

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