Intro to Depository Institutions

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

• Savings tool
• Automated teller machine
• commercial bank
• online banking

An account that allows quick access to funds for transactions

• online banking
• savings tool
• savings account
• checking account

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

• checking account
• debit card
• commercial bank
• mobile banking

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

• contactless payment
• credit union
• debit card
• depository institutions

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

• commercial bank
• credit union
• mobile banking
• online banking

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

• credit card
• debit card
• interest card
• savings card

Businesses that provide financial services

• depository institution
• ATM
• online banking
• savings tool

The price paid for using someone else's money

• interest rate
• debit card
• credit card
• interest

The percentage rate used to calculate interest

• percentage
• rate of return
• interest rate
• interest accrual

Apps that many depository institutions have developed that allow online banking access from devices such as smartphones, tablets and other mobile devices

• App store
• online banking
• mobile banking
• savings banking