| A | B |
|---|
| automatic teller machine (ATM) | computer terminals that people can use to withdraw cash from their bank accounts, make deposits, and transfer money from one account to another; also known as cas machines |
| debit card | a card issued by a financial institution, that allows people to withdraw money or ro pay for purchases from their checking or savings accounts |
| point-of-sale transaction | the use of a debit card to purchase an item or a service at a retail store, restaurant, or elsewhere |
| commercial bank | a for-profit corporation that offers a full range of financial services, including checking, savings, and lending |
| savings and loan association (S&L) | a financial institution that traditionally specialized in savings accounts and mortgage loans |
| credit union | a nonprofit financial institution that is owned by its members and organized for their benefit |
| certificate of deposit (CD) | a savings alternative in which money is left on deposit for a stated time period(ranging from a month to 5 or more years) to eaqrn a specific rate of return |
| money market | a savings account in which the interest rate varies as market rates change |
| rate of return | the percentage of increase in the value of your savings from earned interest |
| compunding | the process in which interest is earned on both the principal-the amount that was deposited-and any previously earned iterest |
| annual percentage yeild (APY) | the amount of interest that a financial institution would pay on $100 deposit for one year |
| overdraft protection | an automatic loan made to customers by a financial institution if the customers write checks for more money than they have in their accounts |
| stop-payment order | a request that a financial institution not cash a particular check |
| endorsement | the signature on the back of a check of the payee, the party to whom the check has been written |
| bank reconciliation | a report that accounts for the differences between a person's bank statement and his or her checkbook balance |
