| A | B |
|---|
| Emergency Fund | Money set aside that you can access quickly for unexpected expenses |
| Federal Reserve | Central banking system of the United States |
| Liquidity | How easily an asset can be converted into cash or the ready availability of money each person has |
| Check | A negotiable instrument which means it can be exchanged for money |
| MICR | Short for magnetic ink character recognition – character recognition technology used primarily by the banking industry to facilitate the processing and clearance of checks & other documents |
| Check Endorsement | Signing the check on the back |
| Electronic Check Conversion | Uses the check MICR line to make a one-time electronic payment from your account, an electronic funds transfer |
| Deposit Slip | Includes the name & contact info for the account holder & bank routing number & the individual’s account number – allows you to put money into your account |
| ATM | Automated Teller Machine - Computer terminal that allows bank customers to perform basic financial transactions |
| Debit Card | Plastic card that allows you to spend the money you have in your bank account |
| Smartchip Technology | Chip that is embedded in the card which the user can either scan or insert into a slot & punch a PIN code to finalize a transaction |
| Fingerprint Technology | Cashless & cardless option that uses biometric identification as part of a payment transaction |
| Electronic Deposit | Putting money into your bank account through an electronic device |
| Direct Deposit | The electronic transfer of a payment directly from the accound of the payer to the recipient’s account |
| Checking Account Register | Informal record of all deposits to & withdrawals from a specific checking account |
| Account Statement | A statement of recent transactions & the resulting balance |
| Reconcile | To restore the register |
| Overdraft | Occurs when you don’t have enough money in your account to cover a transaction, but the transaction is still processed by the financial institution |
| Overdraft Protection | Covers the transactions with you overdraw your account |
| Mobile Banking | Seeing your account balance is one way to use ___________. |
