Unit 2.01 and 2.02

An income and expense statement sometimes referred to as a budget which records both planned and actual income expenses over a period of time.

• savings account

• checking account

• Interest

• Spending Plan

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

• Credit Union

• Commercial Bank

• Mobile banking

• Automated teller machine (ATM)

An account that allows quick access to funds for transactions.

• Checking account

• Credit Union

• Savings account

• Interest rates

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

• Commercial bank

• Savings account

• Debit Card

• Interest

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.

• Debit card

• Savings account

• Online Banking

• Contactless payment

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

• Commercial Bank

• Credit Union

• Depository Institution

Plastic Card that is electronically connected to the cardholder's depository institution account.

• Interest

• Online Banking

• Debit Card

Businesses that provide financial services

• Depository institution

• Interest

• Interest rate

The price paid for using someone else's money.

• Interest Rate

• Mobile banking

• Interest

The percentage rate used to calculate interest

• Online banking

• Savings tools

• Interest Rate