| A | B |
|---|
| Auomated teller machines(ATMs) | Computer terminals that let you withdraw cash from your account. |
| Debit card | Allows you to withdraw money or pay for purchases from your checking or savings account. |
| Point-of-sale transaction | You use a debit card to purchase an item or a service at a retail store, in a restaurant or elsewhere. |
| Commercial bank | A for-profit institution that offers a full range of financial services, including checking, savings, and lending. |
| Savings and loan association(S&L) | Traditionaly specialized in savings accounts and mortgage loans. |
| Credit union | A nonprofit institution that is owned by its members and organized for their benefit. |
| Certificate of Deposit(CD) | A time deposit that requires you to leave your money in a financial institution for a set amount of time. |
| Money market account | A savings account in which the interest rate varies from month to month. |
| Rate of return | The percentage of increase in the value of your savings from earned interest. |
| Compounding | The process in which interest is earned on both the principal-the amount you deposited-and on any preciously earned interest. |
| Annual percentage yield | The amount of interest that a $100 deposit would earn, after compounding, for one year. |
| Stop-payment order | A request that an institution not cash a particular check. |
| Endorsement | Signature of the payee, the party to whom the check has been written. |
| Bank reconciliation | A report that accounts for the differences between the bank statement and you checbook balance. |
| Overdraft Protection | when the bankcovers a check that is insufficient funds (with a fee) |
| Payee | the person to whom the check written to |
| Cancelled check | a check that has be processed by the bank and has been subtracted fro the depositor's account |
| Stop Payment order | a request that a bank not cash a check (requires a fee) |
| Restrictive endorsement | For Deposit Only, account number and signature |
| Special endorsement | transfers the ownership of the check from one payee to another |
| Demand Deposit | A checking account on which the depositor can demand money at any time |
| Void Check | a check that has a mistake on it and will not be used |
| US Savings Bond | a loan to the US government with a promise to repay with interes on a specific date |
| Maturity date | the date money markets and bond come due |
| FDIC | Insurance for bank accounts up to $100,000, in the event of bank failure |
| Credit cards | get the good or service now with the promise to pay in the future (high interest rates) |
| Savings and Loan | type of financial institution that specialized in savings and loans |
| Service Charge | a small amount banks charge customer to maintain their accounts |
| Outstanding check | a check (or withdrawal) that you have made that the bank does not show on the bank statement yet |
| Earned Interest | Recorded in the check register and added to the checkbook balance |
| Certified Check | A check that the bank stamps as good because they have already taken the money out of the persons account |
