checking account

Term Definition
Federal Reserve is the central banking system of the United States
CREDIT UNION A credit union is a cooperative bank
ATM Automatic teller machine
check A debit against your checking account written on a paper form
debit card Like a credit card, but directly attached to a checking account
ROUTING NUMBER The first range of numbers in the series of numbers at the bottom of a check that indicates which Federal Reserve district the bank issuing the check belongs to
direct deposit An automatic deposit of a paycheck without having to take a physical check to the bank.
overdrafts Amounts withdrawn from your account beyond the money the account holds

Leave a Reply

Your email address will not be published. Required fields are marked *