Banking Terminology

2. A federal government agency that helps ensure the stability of the U.S. financial system and protects bank customers up to $250,000 per depositor, for each account ownership category, in the event of a bank failure.
4. A type of time deposit account, generally insured by the FDIC at banks and the NCUA at credit unions, where customers can put their savings to earn a yield.
5. Refers to your ability to borrow—the willingness of banks and other lenders to extend a loan to you.
7. A method of transferring funds between banks, businesses or individual people. Two types are the automated clearing house (ACH) network and wire transfers.
8. Used to indicate that a certain amount of a customer's balance may not be withdrawn until an item has been collected, or until a specific check or debit is posted.
11. account where you can stash funds that you aren't ready to use yet, often with the goal of accumulating more.
12. A type of electronic funds transfer which transfer funds between banks for a fee.
14. A general term that covers accounts such as estates, guardianships, and agencies.
16. To cash or deposit a check, you must sign your name on the back.

1. Removing funds from a bank account, savings plan, pension, or trust.
3. A sum of money placed or kept in a bank account.
5. A bank account you can write checks from, or access several other ways, which tends to make it your go-to, daily transaction bank account.
6. A type of electronic funds transfer system that operates between banks, businesses and individual consumers in a nationwide network.
9. Occurs when you make a purchase with your debit card or write a check for an amount that exceeds your checking account’s available balance.
10. A check drawn on the funds of the bank, not against the funds in a depositor's account.
13. When two or more owners are on the account
15. The date of expiration for the contractual obligation of a financial instrument.