Banking Terms Flashcards

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Borrower

Back

A person or business that receives money from a lender

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Check register

Back

A record of transactions on a person’s checking account (checks, deposits, withdrawals)

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Bounced check

Back

when a check cannot be processed because of non-sufficient funds (NSF), or not enough money in the account

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Debit card

Back

A card linked to a checking account used for purchases, ATM use, etc.

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Checking account

Back

A bank account that allows customers to make deposits/withdrawals and write checks

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Bank

Back

A financial institution that has shareholders and is for-profit

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Credit union

Back

A financial institution that is not-for-profit and owned by its members

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ATM

Back

Machine that allows customers to withdraw/deposit money

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Branch

Back

Physical locations of banks or credit unions

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Lender

Back

A person or financial institution (bank/credit union) that provides money to a borrower