Intro. to Depository Institutions Vocab.
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| automated teller machine (ATM) | machine; no human assistance; completes transactions
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| checking account | account allowing quick access to funds
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| commercial bank | offer financial services to consumers & businesses
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| contactless payment | payment transaction; no physical connection between payment device and point of sale (POS) terminal or store clerck
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| credit union | depository institution; offer banking; business is owned by customers
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| debit card | plastic card; electronically connected to cardholder's depository account
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| depository institution | businesses that provide financial services
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| interest | price paid for using someone else's $
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| interest rate | % rate to calculate interest
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| mobile banking | apps allowing online banking access from devices
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| online banking | transactions completed through a a secure Internet site using username & passwords
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| savings account | account @ depository institution; holds $; doesn't spend it
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| savings tool | account @ depository institution; helps people manage their $
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Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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