| A | B |
|---|
| Money Market Account | a non financial account that pays interest based on current interest rates in the money markets. |
| NCUA | National Credit Union Administration. Regulates, charters, and supervises federal credit unions |
| Short-Term Goals | one you want to achieve in 1-2 years-like a down payment or furniture |
| Commercial Bank | a financial institution that offers services like demand deposits, checking accounts, and loans to the public. Also service companies |
| Blank Endorsement | when the payee signs the back of the check. It is payable to the bearer. |
| ATM | automated teller machine. Lets you complete transactions electronically. |
| Restrictive Endorsement | places a limitation on the use of a check. |
| FDIC | Federal Deposit Insurance Corporation. Independent agency of the US insurers deposits. |
| Transfer | one way payment of money for which no money, good, or service is exchanged. |
| Long-Term Goals | something you want to accomplish over a longer period of time (2+ years). ex. buying a house. |
| Account Number | number or letters in a code assigned to every customer or supplier that identifies the holder of the bank account. |
| Debit Card | A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
| Restrictions | Limits that can be put on your bank account. ex. # of checks you can write. |
| Cashier's Check | a check written by a bank on its own funds, and signed by the banks cashier or other such officer. |
| Canceled Checks | a check that has cleared the depositor's account and is marked as canceled. |
| Notary Republic | an official of integrity appointed by state government to five the people full service as an impartial witness in performing many different official fraud/deterrent acts |
| Traveler's Check | a check of a fixed amount that can be cashed in or used as payment with the holders signature. |
| Credit Union | a non-profit-making money cooperative whose members can borrow from pooled deposits at low interest rates. |
| Routing Number | nine digit code based on the US bank location where your account was opened. First set of #'s printed on bottom left of checks. |
| Outstanding Checks | checks which have been written, but have not yet cleared the bank on which they were drawn. |
| Overdraft Protection | a line of credit that banks offer to their customers to cover their overdrafts. |
| Fees | a payment made in return for services |
| Floating A Check | writing a check that takes time for money to leave your checking account |
| Account Maintenance Fees | a fee applied by banks against a bank account based on certain actions made. |
| Special Endorsement | an endorsement of a check authorizing payment to a person other than the person to which the check was originally written. |
| Withdrawal Penalties | refers to any penalty incurred by an individual for early withdrawal from an account that is otherwise "locked in" for a stated period or where such withdrawals are subject to penalties by law, such as from an IRA. |
| Electronic Fund | online money, used to transfer money online between banks |
| Bank Reconciliation | is a process performed by a company to ensure that the company's records (check register, general ledger account, balance sheet, etc.) are correct and that the bank's records are also correct. |
