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13 Cards in this Set
- Front
- Back
ATM |
a machine that allows individuals to complete certain transactions from the machine 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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contact-less payment |
payment transactions that can be completed with no physical connection between the payment device and the physical point of sale |
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credit union |
depository institutions that offer many banking services and are owned by their 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 |
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online banking |
allows customers to complete certain transactions from a secured internet site by using a username and password |
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savings account |
account at a depository institution that is designed to hold money |
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savings tool |
accounts offered by depository institutions whose main purpose is to help people manage their money |