Financial Institutions
A for-profit financial institution.
A bank.
An account that pays a lower variable rate of interest than a Money Market account, where you can withdraw the full amount at any time.
Savings account
Checks and this type of card are attached to your checking account.
Debit
The "Pay to the Order of" line on a check is where this information goes.
The payee
How quickly and easily you can turn an asset into cash
Liquidity
A not-for-profit financial institution that is usually focused on customer service.
Pays a high fixed rate of interest, but is less liquid.
Certificate of Deposit (CD)
The thing your PIN number for your debit card needs to be.
Random!!!!
The place where you record all of your checks that you've written.
Checkbook register
Something your employer can set up so that your check goes into your account automatically.
Direct deposit
The government institution that insures your money at a bank.
FDIC
Money now is worth more than money later because of its potential to earn interest.
Time value of money
When you spend more money than you have.
Overdraft
The type of check that you should never sign.
A blank check
You can ask your bank for this if you don't want a check to be cashed.
The amount of money you are insured by the FDIC or NCUA.
$250,000
All interest on savings accounts are taxed as this.
Income
Your maximum liability is $50 when you report your debit card as lost or stolen in this number of days.
Two days.
When you write "For deposit only" and sign the back of a check.
Restrictive endorsement
When you compare your checkbook register balance to your bank account balance, you are doing this.
Reconciling
The thing you earn when you open a savings account at a bank or credit union.
Interest
The phrase used when you put money into a savings account.
"Making a deposit".
The amount of charges you are responsible for when you give someone else your PIN.
All
The 9-digit string of numbers on the bottom left corner of the check that identifies your bank.
Routing number
When you have a fixed amount of money moved from your checking to your savings account each month.
Automatic savings plan