Banking Terms and Concepts

Front

money added to your bank account

Back

Deposit

Front

a card that allows purchases or ATM withdrawals, linked to your checking account

Back

debit card

Front

monthly charge for maintaining an account, often waived if certain conditions are met

Back

maintenance fee

Front

a bank with no physical branches, operating entirely on the internet

Back

Online bank

Front

type of account for storing money, usually earns interest

Back

savings account

Front

government agency that insures bank deposits up to $250,000

Back

Federal Deposit Insurance Corporation (FDIC)

Front

increase in prices over time, reducing money's buying power

Back

Inflation

Front

a large national bank with many branches and services

Back

Big Bank

Front

when you spend more than you have, leading to a negative balance

Back

Overdraft

Front

short term loans with very high interest rates, repaid on your next payday

Back

Payday loans