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13 Cards in this Set
- Front
- Back
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Automated Teller Machine (ATM) |
A machine that allows individuals to complete transactions without human assistance. |
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Checking Account |
An account that allows quick access to funds for transactions. |
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Commercial Bank |
For-profit depository businesses that offer financial services to both consumers and other businesses. |
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Contactless Payment |
Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale terminal or store clerk. |
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Credit Union |
Depository institutions that offer many banking services and are owned by the customers. |
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Debit Card |
A plastic card that is electronically connected to the cardholder's depository institution account. |
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Depository Institution |
Businesses that provide financial services. |
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Interest |
The price paid for using someone else's money. |
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Interest Rate |
The percentage rate used to calculate interest. |
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Mobile Banking |
Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets, and other mobile devices. |
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Online Banking |
Allows customers to complete certain transactions from a secured internet sire by using a username and password from any place in the world with internet access. |
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Savings Account |
An account at a depository institution that is designed to hold money not spent on current consumption. |
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Savings Tool |
Accounts offered by depository institutions whose main purpose is to help people manage their money. |
