Original
The cost of borrowing the funds for a whole year.
APR (Annual Percentage Rate)
The date on which the borrower needs to pay back the loan in full.
MATURITY DATE
A nine-digit code used by banks to identify affiliation to other institutions.
ROUTING NUMBER
A check written by the issuer for a date in the future.
POST-DATED CHECK
Overspending money in the account leading to negative balance.
OVERDRAFT
The length of time that the borrower has to pay back the loan.
LOAN TERM
The amount of the loan before adding interests.
PRINCIPAL
It can be used for purchases with the money loaded on it.
PREPAID CARD
Moving money electronically between two banks.
WIRE TRANSFER
An approved transaction with a hold placed on it until you clear or cancel the transaction.
HOLD TRANSACTION
Money due as one of several equal payments, spread over an agreed period of time.
INSTALLMENT
The date on which the borrower needs to pay the installment.
DUE DATE
A transactional account that allows for withdrawals and deposits.
CHECKING ACCOUNT
The balance remaining in the account, which might include pending transactions.
CURRENT BALANCE
Purchases cleared on the card and funds have been deducted.
POSTED TRANSACTION
The lender’s charge for the use of their money (cost of borrowing funds).
INTEREST RATE
An amount the lender decided the customer will be likely approved for a loan.
PRE-QUALIFIED AMOUNT
A certificate issued by government or bank institutions that can be used as an alternative to cash.
MONEY ORDER
The funds available on the account for immediate use.
AVAILABLE BALANCE
A recent transaction that has not been fully processed by the merchant.
PENDING TRANSACTION
The cost of borrowing money, including interest and other fees.
FINANCE CHARGE
It let's customer set aside a portion of their liquid assets while earning a monetary return
SAVINGS ACCOUNT
The network in charge of electronic financial transactions.
Coverage by some banks for transactions after an account has gone into a negative balance.
OVERDRAFT PROTECTION
A formal request to cancel a payment that has not yet been processed.
STOP PAYMENT