The section of a bank statement that provides a quick overview of account activity.
What is account summary
100
A book containing blank checks to be used by the holder of a bank account.
What is checkbook
100
A method of payment that is electronically deposited into an individual's account.
What is direct deposit
100
A loan that is not backed by collateral but by the promise of the borrower to repay it.
What is unsecured loan
100
An assessment of the creditworthiness of an individual.
What is credit rating
200
An unattended computerized machine that dispenses money when a personal coded card is used.
What is ATM (automated teller machine)
200
A bank account in which the acccount holder can withdraw his or her available funds by writing a check.
What is checking account
200
A service provided by financial institutions that allos customers to manage their banking transactions through computerized network services.
What is electronic banking
200
The act of taking money out of an account.
What is withdrawal
200
A record of an individual's or company's bill-paying behaviors.
What is credit report
300
An arrangement that authorizes a set payment to be automatically withdrawn from a checking or savings account on a specified day.
What is automatic payment
300
A booklet used to track and balance checking accounts.
What is check register
300
A tax-deferred account that allows individuals to plan for their retirement.
What is IRA (Individual Retirement Account)
300
The once-a-year fee applied to some credit cards.
What is annual fee
300
A person or a business to which debt is owed
What is creditor
400
The remaining amount in a customer's account that represents the amount the customer is able to withdraw.
What is balance
400
Money received in an account thta results in increasing the account balance.
What is credit
400
An account where you receive interest on your deposits, but unlike checking accounts that also earn interest, may have some restrictions.
What is savings account
400
The yearly interest charge applied to outstanding credit card balances. It is one part of the cost of credit. It refers to the way the interest is compounded rather than to the stated interest rate.
What is annual percentage rate
400
A person or a business tha owes money or services to a creditor.
What is debtor
500
An account summary of all financial transactions occuring over a given period of time on an account offered by a financial institution.
What is bank statement
500
The recording or an entery of debt in an account.
What is debit.
500
The process of comparing two sets of records and getting them to correspond or balance.
What is reconciliation
500
The act of buying something or borrowing money with the promise to repay at a future date.
What is credit
500
A ratio that lenders use to determing a borrower's creditworthiness.