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Wise 61-80
epf terms
| Question | Answer |
|---|---|
| Surplus | An excess of income over expenditures. |
| Trade offs | The balance between two or more options where choosing one option means giving up another. |
| Variable expense | A cost that can change depending on the level of goods or services produced. |
| Wan | A term that may refer to a lack of energy or vitality. |
| Banking | The business conducted or services offered by a bank. |
| ABA number/routing number | A unique identifier for a financial institution used for processing checks and electronic transfers. |
| ATM card | A card that allows users to access their bank accounts at automated teller machines. |
| Automatic bill payment services | Services that allow consumers to schedule payments for bills automatically from their bank accounts. |
| Account balance | The amount of money currently available in a bank account. |
| Bank | A financial institution that accepts deposits from the public and creates credit. |
| Bank Statement | A summary of all transactions in a bank account over a specific period. |
| Bounced check | A check that cannot be processed because the account holder has insufficient funds. |
| Car loan | A loan specifically for purchasing a vehicle, typically secured by the vehicle itself. |
| Cash loan | A short-term loan that provides cash to the borrower, often with high interest rates. |
| Cashier's check | A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier. |
| Certificate of Deposit (CD) | A savings product that earns interest on a lump sum deposited for a fixed period. |
| Certified check | A check guaranteed by the bank, verifying that the funds are available. |
| Check cashing centers | Businesses that cash checks for a fee, often without requiring a bank account. |
| Check cashing fee | A charge incurred when cashing a check at a check cashing center. |
| Check fraud | The act of using a check to commit fraud, such as writing a check on a closed account. |