Banking Vocab

1. Bank allows transaction regardless of lack of funds in account.
6. the deposit of funds electronically into a bank account rather than through a physical, paper check.
9. when debt is due- all interest and fees must be paid to creditor.
10. bank account offered by bank and credit unions - typically more restrictions - higher minimum balances - higher interest
12. security that represents financial ownership of the company.
14. unauthorized card use obtaining services, credit or funds through misrepresentation of identity.
16. a written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
18. investment funded by shareholders and trades in disversified holding and professionally managed.
19. money paid to shareholders as a result to profit.
20. short term- high interest - covers borrowers funds. Until next paycheck.

2. it’s the amount in the account to spend.
3. Non-profit entity, members only - lower interest rates for borrowing, higher interest rates for investing.
4. an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system.
5. a type of loan that allows you to borrow money from a lender and use that money to purchase a car.
7. a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority
8. Loan for a home - allows lender to take property in the event payments are not made.
11. item of value that protects the loan.
13. A government bond issued by the US Treasury. That have matured in 20-30 years.
15. Earn interest on money saved and money earned. Or pay interest on money borrowed and interest accrued on loan.
17. Individual payments from a lump sum (lottery, investment, insurance settlement)