Create an account
the most common banking organization, offering checking accounts, savings accounts, loans to individuals and businesses, and other services
the document created to show how the two balances (your own record of your checking account and the bank's record of your account) were brought into agreement
a separate book, usually the same size as the checkbook, for recording account activities
a card issued by your bank and used for ATM transactions and spending money from your account
Financial institution that obtains its funds mainly through deposits from the public; this includes commercial banks, savings and loan associations, savings banks, and credit unions.
the rate financial institutions are charged to borrow funds from the Federal Reserve banks
Electronic funds transfer (EFT)
the use of computers and other technology for banking activities, including the use of ATM, point of sale transactions, direct deposit and automatic bill payment
written evidence that a person received payment or transferred the right to receive payment to someone else
Federal Deposit Insurance Corporation (FDIC)
the federal agency that helps to regulate banks and other financial institutions
Federal Reserve System (FED)
a system set up by the federal government to supervise and regulate member banks and to help banks serve the public efficiently
financial institutions that do not take or help customer deposits, and they earn their money selling specific services or policies
Percentage of deposits that depository institutions must keep on reserve in their cash vaults or on deposit at a Federal Reserve Bank
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