| A | B |
|---|
| Automatic Teller Machine (ATM) | A bank machine that gives out cash from your account and accepts deposits around the clock. |
| Balancing a Checkin Account | Calculations that are made to determine the difference between the payments from and the deposits to a checking account |
| Bank Statement | Monthly printout from your bank that shows all transaction in your accounts. |
| Check | A debit against your checking account written on a paper form. |
| Check Cashing Service | Business that charges a fee to cash a check such as a paycheck. Banks will provide this service for free to their customers. |
| Check Register | The book in which you keep records of checks, deposits, debit card transactions, and ATM withdrawals. |
| Debit Card | Like a credit card, but directly attached to a checking account, and can be used with a PIN to pay for items at a store. |
| Direct Deposit | An automatic deposit of a paycheck without having to take a physical check to the bank. |
| Fees | Service fees for use of the checking account, built into the service agreement |
| Interest-bearing Checking Account | A checking account that pays interest on the balance. |
| Overdrafts | Amounts withdrawn from your account beyond the money the account held. |
| Payday Loan | A loan where a borrower gets a cash advanced based on his paycheck. These loans generally must be repaid on the next payday. |
| Credit | Making purchases now and paying for them later. |
| Credit Card | A plastic card used to make purchases now and pay for them later. |
| Creditor | Any bank or business that extends credit to others; a lender. |
| Debtor | Anyone who owes money, a borrower. |
| Finance Charge | A fee for borrowing money, added to a monthly credit card bill. |
| Interest Rate | The fee, expressed as a percentage, a borrower owes for the use of a creditor's money. At an interest rate of 10%, a borrower would pay $110 for $100 borrowed. |
| Introductory Rate | A temporary interest rate, advertised as a low APR to entice customers to apply for the card. |
| Late Fees | Additional fees that can be added to a credit card bill if the card holder fails to make at least the minimum payment by the due date. |
| Minimum Payment | The smallest required payment that a credit card holder can pay on a monthly bill and still |
| Principal | The amount of money borrowed. On a credit card bill, it is the purchase price of all items bought with the card. |
