Terms in this set (28)
Automatic teller machine
a specialized computern used to bank customers to handle their money.
a check written against an account with insufficient funds to cover it.
a check that can be further endorsed.
a for profit company that handles money.
a written order instructing the bank to pay a certain amount of money to another person or place.
a register where you list all bank transactions including deposits, checks, debit card purchases.
an account that allows the holder to write checks against deposited funds.
when the bank pays a check you have written and deducts and the amount from your account.
a not for profit for finiancial institution that is owned entirely by its members.
a plastic card to deduct money.
contains account holders information and allows money ot be deposited into the correct amount.
money deposited in a bank or some financial institution.
uses a computer-based system that enables you to transfer money from one account to another.
sign the back of a check authorizing the check to be exchanged for cash or credit.
Federal Deposit Insurance Corp (FDIC)
independent agency of the U.S. government that protects customers from the loss of any deposit if the financial institution fails.
the price paid for the use of credit usually stated in a percentage.
check that is more than six months old. It may no longer be honored by the bank.
the central banking system in the U.S. which consists of the twelve regional banks, the Federal Reserve Board, and the Federal Open Market committees.
a check signed by someone else other than who is specified on the check without that person's permission.
an automatic deposits of net pay to an employee's designated bank account.
the process in which interest is earned on both the principle and previously earned interest.
make loans on the value of the item you are seeking a loan on.
Annual Percentage Yield
the amount of interest that a $100.00 deposit would earn, after compounding one year.
Certificate of Deposit
a savings alternative in which money is left on deposit for a stated period of time.
a for-profit institution that off a full range of financial services.
Rate of return
the percentage of increase in the value of your savings from the earned interest.
a request that the bank not cash a particular check.
often used for vacaion because the function as cash and are easily replaced if stolen.
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