Banking Vocabulary

Front

A for-profit institution that offers a full range of financial services to include, checking, savings and lending for individuals and businesses.

Back

Bank

Front

Provides a short-term cash loan for a period of a couple weeks in exchange for a check written back for a larger amount which is the amount of the loan plus the lenders fee.

Back

Payday Lender

Front

Businesses that provide money-related products and services.

Back

Financial Institution

Front

A non-profit financial institution that is owned by its members and operated for their benefit.

Back

Credit Union

Front

A financial institution that will cash checks for anyone for a fee.

Back

Check Cashing Outlet

Front

Provide on-the-spot, short-term loans for up to 50 percent of an item’s estimated value.

Back

Pawnshop

Front

A card that has an account number permanently linked to you which enables you to reload it by adding money to the balance.

Back

Reloadable Card

Front

Checks minus the checking account which you pay the full amount up front with cash or a debit card and generally has a fee.

Back

Money Order

Front

Looks like a credit card, however, money is immediately deducted from your bank account.

Back

Debit Card

Front

Employers electronically deposits paychecks into the employee’s bank account using...

Back

Direct Deposit