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TermDefinition
Liquidity How easy it is to turn an asset into cash without losing a lot of value.
Direct deposit the deposit of funds electronically into a bank account rather than through a physical, paper check.
overdraft a deficit in a bank account caused by drawing more money than the account holds.
Non-sufficient funds (NSF) the status of a checking account that does not have enough money to cover all transactions.
Deposit A sum of money placed or kept in a bank account, usually to gain interest.
Reconciliation the accounting process by which two different data sets are compared to verify that the information within them is accurate,
checking an account held at a financial institution that allows deposits and withdrawals.
Savings Represents a net surplus of funds for an individual or household after all expenses and obligations have been paid.
Bank a bank is a "for profit" financial institution licensed to receive deposits and make loans.
FDIC An independent federal agency insuring deposits in u.s. banks in the event of bank failures. the FDIC insures deposits up to $250,000.
Created by: Linhtr
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