| A | B |
|---|
| commercial bank | a business owned by investors, and its primary functions are to receive, transfer, and lend money to individuals, businesses, and governments. |
| charter | is the license that authorizes a bank to operate. |
| community bank | is a type of commercial bank that is locally owned and operated. |
| savings and loan association (S&L) | a financial institution that provides many of the services offered by commercial banks. |
| credit union | a nonprofit financial cooperative owned by and operated for the benefit of its members. |
| mutual savings bank | a financial institution that is owned by its depositors. |
| electronic funds transfer (EFT) | the movement of money electronically from one financial institution to another. |
| debit card | also called a check card, allows you to make purchases by swiping your card through a point-of-sale terminal that is usually located at the merchant’s checkout counter. |
| ATM card | a card issued by a bank that allows the holder to check account balances, withdraw and deposit cash, and transfer money from one account to another using an automated teller machine. |
| overdraft | a check written for more money than the balance of an account. |
| cashier’s check | a special type of check that the bank guarantees to pay. |
| certified check | is a personal check that your bank certifies is genuine and that there is enough money in your account to cover the check. |
| money order | a payment order for a specific amount of money payable to a specific payee. |
| traveler’s check | a special form of check that functions as cash. |
| checking account | a bank account that allows you to make deposits, write checks, and withdraw money. |
| check | is a written order for the bank to pay a specific amount to the person to whom the check is written. |
| check register | a record of account deposits, withdrawals, checks, fees, and interest. |
| endorsement | a signature on the back of a check that transfers ownership of the check. |
| postdated check | is a check written with a future date. |
| bank statement | a record of checks, ATM transactions, deposits, and charges to an account that is provided by the bank. |
