| A | B |
|---|
| FINANCIAL INSTITUTIONAL | BUSINESS THAT STORES & MANAGES MONEY |
| BANKING | DOING BUSINESS WITH A BANK |
| RETAIL BANKS | PROVIDE SERVICES SUCH AS CHECKING, SAVINGS, CREDIT CARDS, CAR LOANS & HOME LOANS |
| CREDIT UNIONS | OFFER MANY OF THE SAME SERVICES BUT ARE OWNED BY THE CUSTOMERS OR MEMBERS |
| ONLINE BANKS | RETAIL BANKS THAT ONLY OPERATE ONLINE |
| INTEREST | WHEN THE BANK PAYS YOUR A PERCENTAGE OF YOUR BALANCE |
| DEPOSIT | WHEN MONEY IS ADDED TO YOUR ACCOUNT |
| WITHDRAWAL | WHEN MONEY IS SUBTRACTED FROM YOUR BALANCE |
| PIN | A SPECIAL CODE TO ACCESS YOUR ATM/DEBIT/ONLINE ACCOUNT |
| JOINT ACCOUNT | AN ACCOUNT HELD BY TWO OR MORE PEOPLE |
| ANOTHER WAY TO TRANSFER MONEY FROM YOUR ACCOUNT | BANK CHECK, CERTIFIED CHECK OR MONEY ORDER |
| BANK STATEMENT | LISTS ALL THE TRANSACTIONS FOR YOUR BANK ACCOUNT |
| OVERDRAFT PROTECTION | AN AGREEMENT THAT THE BANK WILL LOAN YOU MONEY WHEN YOUR ACCOUNT BALANCE FALLS SHORT |
| SIMPLE INTEREST | CALCULATED BASED ON THE PRINCIPAL BALANCE ONLY |
| COMPOUNDED INTEREST | CALCULATED BASED ON THE PRINCIPAL PLUS INTEREST THAT HAS ALREADY BEEN EARNED |
| CERTIFICATES OF DEPOSIT | A TIME ACCOUNT THAT HAS A MINIMUM DEPOSIT AND USUALLY HIGHER INTEREST RATE |
