| A | B |
|---|
| Automated Teller Machine (ATM) | A machine that allows individuals to complete certain transactions from the machine without human assistance |
| Checking Account | An account that allows quick access to funds for transactions |
| Commercial Bank | For‐profit depository businesses that offer financial services to both consumers and other businesses |
| Contactless Payment | Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk |
| Credit Union | Depository institutions that offer many banking services and are owned by their customers |
| Debit Card | A plastic card that is electronically connected to the cardholder’s depository institution account |
| Depository Institution | Businesses that provide financial services |
| Interest | The price paid for using someone else’s money |
| Interest Rate | The percentage rate used to calculate interest |
| Mobile Banking | Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices |
| Online Banking | Allows customers to complete certain transactions from a secured Internet site by using a username and password from any place in the world with Internet access |
| Savings Account | An account at a depository institution that is designed to hold money not spent on current consumption |
| Savings Tools | Accounts offered by depository institutions whose main purpose is to help people manage their money |
