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13 Cards in this Set
- Front
- Back
Automated Teller Machine (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 business 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 institution that offer many banking services and are owned by their consumers |
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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 |
Business that provides 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 site 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 |