Alerts & Fees
A notification that lets you know if the balance in your checking account goes below a set amount
Low Balance Alert
A mobile banking tool that allows you to deposit checks to your bank account using your mobile device
Mobile Deposit
A card that is directly connected to your checking account; it enables you to conduct ATM transactions and to make purchases instead of using cash or writing a check
Debit Card
The amount of money you have in your bank account
Balance
Automatic Teller Machine. Allows a person to manage a bank account holder's funds through actions such as withdrawing or depositing money, viewing account balances, etc.
ATM
A notification that lets you know when there is suspicious activity with your account
Unusual Activity Alert
A digital payment method that allows you to transfer funds from your bank account to that of another person
Person-to-Person Payment
A card that allows the holder to make purchases without cash by borrowing money
Credit Card
A monthly document prepared by your financial institution which shows all of the transactions related to your account
Bank Statement
Protection provided by the Federal Deposit Insurance Corporation; protects the deposits of customers against loss up to $250,000 per account
FDIC Insurance
A fee charged to your account when it lacks the funds to cover a withdrawal, but the bank allows the transaction to go through anyways
Overdraft Fee
A consumer banking technology that allows you to schedule and make payments over the internet
Online Bill Pay
The Process of putting money into your account
Deposit
A written, dated, and signed order to the bank that tells it to pay a definite sum of money to a payee
Check
A certain amount of money that must be kept in an account as required by that particular financial institution
Minimum Balance
A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card
Interest
An automatic electronic deposit of net pay to an employee's designated bank account
Direct Deposit
A sum of money deducted from your account
Debit/Withdrawal
A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals
Check Register
To sign the back of a check made out to you so it can be cashed or deposited
Endorse
A loan banks offer to their customers when they try to withdraw more funds than they have in their account, usually for a fee and with interest
Overdraft Protection
An application that runs on mobile devices. It securely stores your payment information and passwords and allows you to pay for items without needing your physical cards.
Digital Wallet
A card that is loaded with a specific cash amount before you use it
Prepaid Card
To compare your bank's monthly account statement with your own records of activity for the same account
Reconcile
A term used to describe a person who does not use or does not have access to traditional financial services
Unbanked