Checking Accounts
This type of checking account is a bank account specifically for high school or college students, offering features like no monthly fees, waived ATM fees, and online banking
What is a student checking account.
This service helps you build savings with interest and is useful an an emergency fund.
What is a savings account.
Also known as a dishonored check, occurs when a bank cannot process a check
What is a bounced check.
This institution offers a variety of services including a checking account and savings account.
What is a commercial bank.
Used to make banking transactions like withdrawing cash and may charge a fee.
What is an ATM.
This type of checking account is simply the term credit unions use for a checking account.
What is a share draft account.
This service is offered by banks to conduct financial transactions using a check or debit card.
What is a checking account.
The process of comparing your personal check register to your bank statement to ensure they match and accurately reflect your cash position.
What is reconciling your checking account.
This is a not for profit financial institution that requires you to be a member.
What is a credit union.
There's no physical transportation or manual processing needed.
What is EFT.
This type of checking account is "shared" with another person, typically your spouse or significant other.
What is a joint checking account.
What is a credit card.
Used to track and balance a checking account by logging all incoming deposits and outgoing withdrawals, including checks and electronic transactions.
What is a check register.
This bank has no physical location but offers a variety of banking services like a traditional bank.
What is an "online" bank.
Things like Venmo, Zelle, PayPal, and Apple Wallet helps you make financial transactions
What is P2P (Peer 2 Peer)
Managed primarily through a website or app, these accounts often have fewer fees and higher interest rates because the bank doesn't have the overhead of physical branches.
What is an "online only" checking account.
A type of savings account where money is deposited for a fixed term at a guaranteed interest rate.
What is a CD (certificate of deposit).
A document provided by your bank that summarizes all financial transactions, deposits, withdrawals, and balances for a specific period, typically a month, for your personal account.
What is a bank statement.
This bank specializes in investing and connecting investors with individuals who need to raising money (capital).
What is an investment bank.
This is the notice a bank sends when you don't have money to cover a check or purchase from your checking account.
What is NSF (Non sufficient funds).
These accounts are for businesses and corporations to manage expenses, pay employees, and handle other business-related transactions.
What is a business checking account.
A secure way to move money between banks, including internationally.
What is a wire transfer.
A service offered by banks to cover transactions when your checking account lacks sufficient funds, preventing them from being declined or returned unpaid.
What is overdraft protection.
This type of banks primary role is to service mortgage (home) loans but doesn't take customer deposits like traditional banks.
What is a mortgage bank.
This insures your money in a federal bank up to $250,000.
What is the FDIC (Federal Deposit Insurance Corporation).