PAYCHECKS
This document, typically issued biweekly or monthly, details the amount an employee earns and deductions taken for taxes, insurance, and other benefits.
Paycheck stub
This type of bank primarily provides services such as savings accounts, checking accounts, and loans to individuals and small businesses.
commercial bank?
This type of account allows you to deposit money, write checks, and access your funds through debit cards or ATMs.
checking account
This type of account is designed to help you save money and earn interest on your deposits, but typically limits the number of withdrawals per month.
What is a savings account
This term refers to the portion of a company’s profits distributed to shareholders, usually on a quarterly basis.
dividend
This tax, often withheld from your paycheck, funds the federal program that provides financial assistance to the elderly, disabled, and survivors of deceased workers.
Social Security tax?
A bank that specializes in lending large sums of money for corporate mergers, acquisitions, and major infrastructure projects is called this.
investment bank
This is the term for a check that has been processed by the bank and deducted from your account balance.
cleared check
This type of savings account often offers higher interest rates in exchange for a larger initial deposit or balance and requires you to leave the money untouched for a set period.
certificate of deposit (CD)
This investment type involves lending money to a government or corporation in exchange for periodic interest payments and the return of the principal at maturity.
bond
This term refers to the portion of your paycheck that is subtracted for things like federal taxes, state taxes, and retirement savings.
deductions
This U.S. government agency, created in 1933, insures deposits in commercial banks and thrifts to protect consumers in case of bank failure.
Federal Deposit Insurance Corporation (FDIC)
This type of service, often linked to a checking account, allows you to pay bills electronically without writing a physical check.
online bill pay
This term refers to the percentage that a bank pays you on the money in your savings account, typically calculated annually.
annual percentage yield (APY)
This is the term for the potential for financial loss or gain in an investment.
risk
In the U.S., this type of paycheck method involves receiving a direct deposit to your bank account rather than a physical check.
direct deposit
This type of banking institution operates to provide financial services for the public, including issuing loans and accepting deposits, but it is not for profit and often focuses on community development.
credit union
This fee is charged by some banks when there are insufficient funds in your checking account to cover a transaction.
overdraft fee
This is the term for the minimum amount of money you need to maintain in a savings account to avoid fees or earn interest.
minimum balance requirement
This type of investment fund allows individuals to pool their money together to invest in a diversified portfolio of stocks and/or bonds, typically managed by professionals.
mutual fund
This pay rate, often listed on a paycheck, is the amount an employee earns per hour of work.
hourly wage
This international banking institution, founded in 1944, focuses on promoting economic development and reducing poverty worldwide by providing financial and technical assistance to developing countries.
World Bank
When you use a debit card linked to your checking account, the money for your purchase is typically deducted from this type of balance.
checking account balance
If you frequently transfer money from your savings account to cover regular expenses, you might be charged a fee for exceeding the number of transactions allowed under federal regulations.
Regulation D
The Federal Reserve often raises this interest rate to cool down an overheating economy and prevent inflation.
federal funds rate