Term | Definition |
ATM | electronic banking outlet, which allows customers to complete basic transactions without the aid of a branch representative or teller. |
Account Balance | A balance of payments (BOP) sheet is an accounting record of all monetary transactions between a country and the rest of the world |
Budget | An estimate of income and expenditure for a set period of time |
Checking Account | An account at a bank against which checks can be drawn by the account depositor
An account at a bank against which checks can be drawn by the account depositor |
Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction |
Credit Union | Member-owned financial co-operative. These institutions are created and operated by its members and profits are shared amongst the owners. |
Debit Card | An electronic card issued by a bank which allows bank clients access to their account to withdraw cash or pay for goods and services |
Deposit | The action of deposing someone, esp. a monarch. |
Direct Deposit | Electronic funds that are deposited directly into your bank account rather than through a paper check |
Endorse | Declare one's public approval or support of. |
Expense | The cost required for something; the money spent on something |
FDIC | Federal Deposit Insurance Corporation. A federal agency that insures deposits in member banks and thrifts up to $100000. |
Fees | A payment made for professional advice or services
A payment made for professional advice or services. |
Financial Literacy | Financial literacy is the ability to understand finance |
Financial Security | A security is a fungible, negotiable instrument representing financial value |
Fixed Expense | Costs of owning and operating a property that are not discretionary and, except for occasional increases, do not change |
Income | Money received, esp. on a regular basis, for work or through investments
Money received, esp. on a regular basis, for work or through investments |
Intrest | The state of wanting to know or learn about something or someone: "many people lose interest in history". |
Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount |
Memo | A written message, esp. in business; a memorandum. |
Needs | Cannot avoid or help doing something: "they must needs depart". |
Non-Sufficient Funds | Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a demand for payment (a check) cannot be honored |
Online Banking | Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail |
Payee | A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable. |
Payer | a person who pays money for something |
Reconcile | Cause to coexist in harmony; make or show to be compatible |
Savings | An economy of or reduction in money, time, or another resource. |
Variable Expenses | Variable costs are expenses that change in proportion to the activity of a business |
Wants | Have a desire to possess or do (something); wish for. |
Withdrawal | An act of taking money out of an account |