Consumer Economics
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| ATM (Automated Teller Machine) | A bill-paying arrangement in which your bank removes money from your account at a specified time and sends it to a company to pay your bill.
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| Canceled Check | A check with the bank's stamp on it, indicating that it has been paid.
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| Cashier's Check | A bank's own personal check. signed by the bank's cashier. Payment of this check comes from the bank's own funds.
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| Bank Statement | At the end of the month, your bank sends you a statement showing all your transactions that have been recorded by the banks and any fees that have been charged to your account over that month.
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| Certificate of Deposit (CD) | A deposit in a savings institution that earns a fixed interest rate for a specified period of time.
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| Certified Check | A personal check that has been stamped and signed by a bank officer as a guarantee that your account has the funds to cover the check.
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| Credit Union | A financial institution that provides banking services to its members, who are people who share a common bond, such as a certain profession, church group, or labor union.
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| Commercial Bank | A financial institution that serves individuals and business with a wide variety of accounts, loans, and other financial services.
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| Debit Card | Card that transfers funds electronically from your checking account to the store's account to pay for a purchase.
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| Direct Deposit | Depositing an employee's pay into the employee's bank account electronically instead of using a paper paycheck.
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| EFT (Electronic Funds Transfer)/Wire transfer | The movement of funds from one account to another by computer.
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| Endorsement | You signature on the back of a check, acknowledging that you received the funds or transferred your right to the funds to someone else.
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| FDIC (Federal Deposit Insurance Corporation) | A federal government agency that insures deposits in banks.
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| Joint Account |
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| Money Market Account | A deposit for which the interest rate changes over time as interest rates in the economy change.
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| Money Order | A check that draws on the funds of the bank or other financial business that issued it.
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| Online Banking | Many banks have web sites at which consumers may complete transactions online. To use this service, you must register with your bank.
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| Outstanding Check |
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| Overdraft Protection/NSF Check |
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| Payee | The person or business to whom a check is written.
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| PIN (Personal Identification Number) | Your secret number that identifies you to an ATM as the owner of the ATM card.
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| Point of Sale Transaction |
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| Prepaid Cards |
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| Reconciling your Account | Your checking to make sure that what the banks says you have is what you think you have.
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| Saving & Loan | Trading current spending for the ability to spend in the future.
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| Signature Card |
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| Stop Payment Order |
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| Traveler's Check | Checks that you pay for in advance, and if they are lost or stolen, the issuing company replaces them.
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| Truth-in-Savings Act |
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| Wire Transfer | An electronic communication that moves funds from an account in one bank to an account in a different bank instantly
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