Banking Vocabulary

Front

A financial institution that handles money for its customers by offering checking accounts, savings accounts, and other financial services. A for profit company that is owned by investors.

Back

Bank

Front

Specialized computer used by bank customers to get cash, make deposits, and check balances 24 hours a day.

Back

Automatic Teller Machine (ATM)

Front

A check written against an account with insufficient funds to cover it.

Back

Bad check

Front

Independent federal agency that supervises federal credit unions and insures depositor’s money.

Back

National Credit Union Administration (NCUA)

Front

Lack of money in an account to pay a payment

Back

Non-sufficient funds (NSF)

Front

A written order instructing the bank to pay a certain amount of money to another person or place; must contain date, payee, amount, and signature.

Back

Check

Front

A check that has been written, but not yet received and paid by the bank.

Back

Outstanding check

Front

An automatic loan by the bank that covers debit card transactions, checks, or withdrawals if you do not have enough money in your account.

Back

Overdraft protection

Front

When the bank pays a check you have written and deducts the amount from your account.

Back

Cleared check

Front

Not for profit financial institution that is owned entirely by its members.

Back

Credit Union