Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
F.L
| Term | Definition |
|---|---|
| direct deposit | the electronic transfer of a payment directly from the account of the payer to the recipient's account. |
| automated teller machine (ATM) | a machine that dispenses cash or performs other banking services when an account holder inserts a bank card. |
| debit card | a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
| point of sale transaction | a transaction is finalized or the moment where a customer tenders payment in exchange for goods and services. |
| commercial bank | a bank that offers services to the general public and to companies. |
| savings and loan association | an institution that accepts savings at interest and lends money to savers chiefly for home mortgage loans and may offer checking accounts and other services. |
| credit union | a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates. |
| direct depsoit | the electronic transfer of a payment directly from the account of the payer to the recipient's account |
| automated teller machine (ATM) | a machine that dispenses cash or performs other banking services when an account holder inserts a bank card |
| deit card | a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase |
| point of sale transaction | a transaction is finalized or the moment where a customer tenders payment in exchange for goods and services. |
| commercial bank | a bank that offers services to the general public and to companies |
| savings and loan association | an institution that accepts savings at interest and lends money to savers chiefly for home mortgage loans and may offer checking accounts and other services. |
| credit union | a cooperation group that makes loans to its members at low rates of interest |
| certificate of deposit | a written acknowledgement of a bank that it has received from the person named a specified sum of money as a deposit, often for a fixed term at a specified interest rate |
| money market account | an interest-bearing account that typically pays a higher interest rate than a savings account, and which provides the account holder with limited check-writing ability. |
| rate of return | the ratio of the annual income from an investment to the original investment, often expressed as a percentage |
| compounding | composed of two or more parts, elements, or ingredients |
| annual percentage yield (APY) | effective annual rate of return taking into account the effect of compounding interest |
| overdraft protection | a deficit in a bank account caused by drawing more money than the account holds. |
| stop-payment order | equest made to a financial institution to cancel a check or payment that has not been processed yet. |
| endorsement | an act of giving one's public approval or support to someone or something. |
| bank reconciliation | a process that explains the difference on a specified date between the bank balance shown in an organization's bank statement, as supplied by the bank, and the corresponding amount shown in the organization's own accounting records. |
Created by:
b.olivero
Popular Real Estate sets