| A | B |
|---|
| interest bearing account | an account that earns interest |
| debit | withdrawal from your account |
| statement balance | how much money you have in your checkign account as of the statement date |
| personal identificastion number/pin | four digit code connected to the debit card; verifies your identity |
| electronic funds transfer/EFT | the movement of funds using computer systems, telephone or electronic terminals |
| online banking | allows account holders to access their account information, view transaction history and perform banking transactions via the Internet |
| overdrawn | having a negative balance in your account |
| overdraft penalty | a fee to cover the cost of processing your bad check |
| overdraft protection | arrangement with the bank to cover checks so they will not bounce |
| minimum account balance | the amount of money you must keep in the account to avoid service charges, qualify for special service or earn interest on the checking account |
| check | written order specifying the amount of money to be paid and the name of the person or company who should receive the funds |
| deposit/credit | money you put into your accoun t |
| balance/reconcile | compare the amount of money in an account, equal to the net of credits and debits at that point in time for that account |
| debt card | a card that allows the user to withdraw money from a bank account to obtain cash or make a purchase |
