A type of bank account that allows you to make deposits, write checks, and withdraw your money at any time.
One that can be bought, sold or converted to cash quickly.
A fee you must pay the bank for having an account.
Occurs when someone uses your personal information without your permission.
A record of your checking account transactions. It shows deposits, payments, withdrawals, interest and fees.
A statement sent by the bank every month showing all activity in your checking account.
Also known as online banking--is the transfer of funds by computer instead of using paper checks or cash.
Term used when a check is written for more money than what is in the balance of a checking account.
A check will be paid by the bank even if you do not have enough in your account to cover it.
A check with a date that is in the future.
An account that does not pay a very high rate of interest but is an insured, no-risk account that can be used in emergency situations.
Certificates of Deposit
An account that earns a higher rate of interest but requires a large minimum deposit and has to be left on deposit for a certain length of time.
Money Market Account
Checking accounts that pay interest on the amount you have deposited in the account--more interest than a regular checking account--but requires a large minimum balance.
A plastic card that allows immediate deductions from a checking account to pay for purchases.
Automated Teller Machine
A machine that allows users to perform various banking tasks.
A check that has not yet been returned to the bank for payment.
An independent agency of the federal government which insures accounts at most banks and other financial institutions.
Savings and Loan Association
Financial organization that earns money by issuing home mortgages and generally pays higher interest rates on savings than regular banks.
A nonprofit financial organization that offers membership to people who share something in common such as being in the same profession.