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14 Cards in this Set
- Front
- Back
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an account offered by credit unions that is similar to interest- paying checking accounts offered by other financial institutions. |
Share Draft Account |
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an account held at a financial institution from which funds can be withdrawn on demand by the account holder, same as a checking account. |
Demand Deposit |
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is the most common type of checking account. |
Regular Checking |
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a checking account on which the financial institution pays interest, NOWs have no legal minimum balanc |
Negotiable Order of Withdrawal (NOW) Account |
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a federally insured savings account, offered by banks and other depository institutions, that competes with money market mutual funds. |
Money Market Deposit Account (MMDA) |
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a mutual fund that pools the funds of many small investors and purchases high-returns, short-term marketable securities. |
Money Market Mutual Fund (MMMF) |
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a comprehensive deposit account, offered primarily by brokerage houses and mutual funds. Also called as "central asset account". |
Asset Management Account (AMA) |
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is another form of liquid asset available at commercial banks, S&Ls, savings banks, credit unions, and other types of financial institutions. |
Savings Account |
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are referred to as time deposits, since they are expected to remain on deposit or longer periods of time than demand deposits. |
Savings Deposit |
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system using the latest telecommunications and computer technology to electronically transfer funds into and out of customer's accounts. |
Electronic Funds Transfer Systems (EFTSs) |
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a remote computer terminal that customers of depository institutions can use to make basic transactions 24 hours a day, 7 days a week. |
Automated Teller Machine (ATM) |
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they allow you to receive automatic deposits or make payments that occurs regularly. |
Preauthorized Deposits and Payments |
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bank customers can make various types of transactions by telephone, either by calling a customer service operator who handles the transaction or by using the keypad on a touch-tone telephone to instruct the bank's computer. |
Bank-by-Phone Accounts |
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is a rented drawer in a bank's vault. |
Safe Deposit Box |
