Banking Vocabulary

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.

• Bank

• Credit Union

• Pawn shop

• Rent-a-Center

Currency + coins + checking accounts (demand deposits)

• M1 Money Supply

• M2 Money Supply

• M3 Money Supply

• M4 Money Supply

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

• Automatic Teller Machine (ATM)

• Vending machine

• Cash register

• IPad

M1 money supply + savings accounts and money market accounts.

• M1 money supply

• M2 money supply

• M3 money supply

• M4 money supply

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

• Bad check

• Stale check

• Cleared check

• Outstanding check

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

• National Credit Union Administration (NCUA)

• Federal Deposit Insurance Association (FDIC)

• Federal Reserve

• U.S. Treasury

Lack of money in an account to pay a payment

• Non-sufficient funds (NSF)

• ATM

• Bad check

• Outstanding check

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.

• Check

• Deposit slip

• Money order

• Signature card

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

• Outstanding check

• Cleared check

• Stale check

• Bad check

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

• Overdraft protection

• Co-signer

• Pay-day loan

• Title-loan