Bank Glossary 2.0

1. A financial institution and business that accepts deposits, makes loans, and handles other financial transactions.
5. To receive money in exchange for goods or services.
6. Borrowing money, or having the right to borrow money, to buy something.
8. A plastic card used to make purchases at businesses (like grocery stores and gas stations) with money in your checking account.
11. Money you owe another person or a business.
12. You can use it to buy goods and services.
14. The amount of money that is needed to pay for or buy something.
15. Stands for "automated teller machine," a machine that lets bank customers perform basic transactions, such as deposits and withdrawals.
16. loans are used to buy a home or to borrow money against the valueof a home you already own

2. An item with economic value, such as stock or real estate.
3. To commit money to earn a financial return; the strategic purchase or sale of assets to produce income or capital gains.
4. An illegal act that occurs when people try to trick you out of your personal information and your money.
7. A fee charged by a lender, and paid by a borrower, for the use of money.
9. To get something by paying money for it.
10. A person who buys or receives goods or services for personal needs or use and not for resale.
13. The insured’s request for payment due to loss incurred and covered under thepolicy agreement.