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ATM
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Account Balance
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Budget and banking

TermDefinition
ATM automated teller machine
Account Balance An account balance is the amount of money present in a financial repository, such as a savings or checking account, at any given moment.
Bank Reconciliation bank reconciliation statement is a form that allows individuals to compare their personal bank account records to the bank's records.
Budget an estimate of income and expenditure for a set period of time.
Checking Account an account at a bank against which checks can be drawn by the account depositor.
Check Register A check register, or cash disbursements journal, is where you record all of the check and cash transactions your business has during an
Cleared Check Check clearing is simply a process whereby funds move from one account to another to settle a check payment. The amount is usually credited to the bank account
Credit Union nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
Debt Card card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
Deposit a sum of money placed or kept in a bank account, usually to gain interest.
Direct Deposit the electronic transfer of a payment directly from the account of the payer to the recipient's account.
Endorse Sign the back of the checks
Expense the cost required for something; the money spent on something
FDIC The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by Congress to maintain stability and public confidence in the nation's
Fees payment made to a professional person or to a professional or public body in exchange for advice or services
Financial Security financial stability means being free of debt and being able to comfortably pay off monthly expenses (with plenty left over for savings). Financial security, on the other hand, means having enough money to cover your expenses, emergencies, and retirement w
Fixed Expense is an expense whose total amount does not change when there is an increase in an activity such as sales
Income money received, especially on a regular basis, for work or through investments.
Interest the amount of money a lender or financial institution receives for lending out money. Interest can also refer to the amount of ownership a stockholder has in a company, usually expressed as a percentage.
Loan Overdraft loan provided by a bank that allows a customer to pay for bills and other expenses when the account reaches zero. For a fee, the bank provides a loan to the client in the event of an unexpected charge or insufficient account balance.
Memo legal document that states the objectives, risks, and terms of an investment involved with a private placement
Needs expenditures that are essential for you to be able to live and work
Non-sufficient funds (NSF) is the term used when the holder of a checking account is overdrawn — meaning there is not enough money in the account to pay the check written against it. The bank returns the “bounced” check to the accountholder and charges a returned-check charge, or
Online Banking allows a user to conduct financial transactions via the Internet.
Payee party in an exchange of goods or services who receives payment
Payer entity that makes a payment to another entity
Reconcile the process of comparing transactions and activity to supporting documentation.
Savings process of setting aside a portion of current income for future use
Variable Expenses expense that changes in proportion to production output or sales.
Wants items that are nice to have
Withdrawal involves removing funds from a bank account
Created by: Dmiller231
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