Checking Account
This card is linked directly to your checking account and allows you to make purchases.
Debit card
Savings accounts earn this, helping your money grow over time.
Interest
This machine allows you to withdraw cash, check your balance, or deposit money without a teller.
ATM
The amount paid each month for insurance coverage
Premium
You crash into a pole and your insurance helps pay for damage to your own car.
Collision Insurance
A bank account mainly used for everyday spending and paying bills.
Checking Account
Money you save for emergencies should be kept in this type of account.
Savings Account
This is the amount of money you currently have in your account.
Balance
The amount you pay out of pocket before insurance begins to pay.
Deductible
A tree branch falls on your car during a storm, and your insurance helps pay for the damage.
Comprehensive Insurance
When you spend more money than is in your checking account
Overdraft
This type of savings account is offered by banks that operate primarily online.
Online Savings Account
A payment system where bills are paid through direct withdrawal from a bank account
Automatic Bill Payment (Auto Pay)
An official request to an insurance company for payment after a loss.
Claim
Another driver hits your car, but the driver does not have enough insurance to cover the damage. Your policy helps pay instead.
Underinsured Motorist Coverage
A paper form or written order used to pay someone from your checking account.
Check
A savings account that keeps your money for a set period of time and usually pays fixed interest
Certificate of Deposit (CD)
This service lets you instantly send money to someone using apps like Zelle or Venmo, even if they use a different bank.
Peer-to-Peer (P2P) payment
The person who receives money from a life insurance policy after the policyholder dies is called
Beneficiary
You hit another car, and your insurance pays for the other driver’s car repairs.
Liability Insurance
A record of transactions in your checking account, including deposits and withdrawals.
Bank Statement
A Savings account that may earn interest and sometimes allows limited check writing, often with a higher minimum balance
Money Market Account
A banking service that sends a paycheck straight into your account.
Direct Deposit
The maximum amount an insurance company will pay for a covered loss is called
Coverage Limit
You are injured in a car accident, and your insurance helps pay your medical bills.
Personal Injury Protection (PIP)?