| A | B |
|---|
| point-of-sale transaction | debit card is used to purchase an item or a service at a retail store, in a restaurant or elsewhere |
| ATM card-online | online card, use a pin number to authorize the payment and money is transferred from your account instantly |
| ATM-offline card | don't require a pin number and the funds to cover the payment are deducted from your account within a day or two |
| stored-value cards, rechargable cards | prepaid cards that you can spend for bus, lunches, or almost al purchases |
| debit card | cash card allows you to withdraw money or pay for purchases from your checking or savings account. Must apply through your bank for one. |
| PIN | personal identification number |
| ATM | automatic teller machines are computer terminals that let you withdraw cash from your account, make deposits, and transfer money from one account to another |
| Direct Deposit | option of having you pay deposited directly into a designated bank account; most times this would be from your employer in a form of a paycheck |
| automatic payments | with your authorization, your bank will withdraw the amount of our monthly payment or bill from your bank account |
| $250,000 | amount your account is protected and backed by the FDIC |
| credit union | a nonprofit financial institution that is owned by this members and organize for their benefit |
| mutual savings banks | specialize in savings accounts and mortgage loans |
| savings and loan association | specialized in savings accounts and mortgage loans |
| commercial bank | a for profit institution that offers a full range of financial services including checking, savings, and lending |
| life insurance companies | provide financial security for dependents, many policies also contain savings and investment features |
| investment companies | they combine your money with that of other investors in order to buy stocks, bonds, and other securities |
| finance companies | make loans to consumers and small busineses |
| mortgage companies | specialize in loans for the purchase of homes |
| certificate of deposits | time deposit that requires you to have your money in a financial institution for a set amount of time |
| money market accounts | savings account in which the interest rate varies from month to month |
| US Savings Bonds | backed by our government, reliable, sold at face value |
