annuity
A fixed amount set aside on a regular basis over time
bounced check
A check that is returned to the payee's bank due to
nonsufficient funds
cashier's check
A check issued against the bank's funds
certificate of deposit
A time deposit that pays a fixed rate of interest for a
specified length of time
check
A written order to a bank to pay a stated amount to a person
checkbook register
A tool used to track checking account transactions
checking account
A demand deposit in a bank on which checks are drawn
compound interest
Interest earned on both principal and previously earned
interest
debit card
A card used to withdraw or deduct money from your
checking account
deposit
Money added to a checking or savings account
endorsement
A signature on the back of a check
floating a check
Writing a check and planning to make a deposit later to
cover it before the check is processed
inactive account
An account that does not meet minimum usage
requirements
Internet banking
Accessing and managing your account online
money market account
A type of savings account that earns the market rate of
interest on the money deposited
money order
A check used to pay bills for which money is guaranteed
postdated check
A check written with a date that will occur in the future
principal
A sum of money set aside on which interest is paid
Rule of 72
A quick formula for computing how long it will take to
double money invested at a given interest rate
savings account
A demand deposit account designed for the accumulation
of money in a safe place for future use
simple interest
Interest computed on principal once during a certain time
period
smart card
A card that contains a computer chip that stores electronic
money
stop payment
An instruction to the bank not to honor a check that has
been issued or lost
U.S. savings bond
A discount bond issued by the federal government
withdrawal
Taking money from your account