PF OBJ 2.01 Vocab

Front

Automated teller machine (ATM)

Back

A machine for completing transactions without human help.

Front

Checking account

Back

An account for quick access to funds.

Front

Commercial bank

Back

For-profit depository businesses providing financial services to consumers and businesses.

Front

Contactless payment

Back

Payment transactions without physical connection between device and POS (e.g., Apple Pay).

Front

Credit Union

Back

Depository institutions offering banking services, owned by customers.

Front

Debit card

Back

A plastic card electronically linked to the cardholder’s bank account.

Front

Depository institution

Back

Businesses that provide financial services

Front

Interest

Back

The price paid for using someone else’s money

Front

Interest rate

Back

The percentage rate used to calculate interest

Front

Mobile banking:

Back

Apps for online banking via smartphones, tablets, and other devices.