Managing Your Money Vocabulary

Front

Businesses that provide financial services.

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Depository Institution

Front

A machine that allows individuals to complete certain transactions from the machine without human assistance.

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Automated Teller Machine (ATM)

Front

An account that allows quick access to funds for transactions.

Back

Checking Account

Front

For-profit depository businesses that offer financial services to both consumers and other businesses.

Back

Commercial Bank

Front

Payment transactions that can be completed with no physical connection between the payment device and the physical point of sale (POS) terminal or store clerk.

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Contactless Payment

Front

Depository institutions that offer many banking services and are owned by their customers.

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Credit Union

Front

A plastic card that is electronically connected to the card holder's depository institution account.

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Debit Card

Front

The price paid for using someone else's money.

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Interest

Front

The percentage rate used to calculate interest.

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Interest Rate

Front

Accounts offered by depository institutions whose main purpose is to help people manage their money.

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Savings Tool