Relier Pairs Banking TermsVersion en ligne Vocabulary par Tony Gibson 1 Federal Deposit Insurance Corporation 2 Certificate of Deposit 3 Service Charge 4 Bank Statement 5 Altering a Check 6 Rule of 72 7 ATM 8 AI Assistant 9 Insufficient Funds 10 Mobile Wallet 11 Electronic Funds Transfer 12 Bank Reconciliation 13 Average Percentage Rate 14 Digital Only Banking 15 Bitcoin A fee a bank charges for servicing a checking account, however, many banks no longer charge this fee A savings certificate issued by a bank for a specific amount, at fixed rates of interest, until a specified maturity date An illegal act of changing the face (amount, payee, date, signature) of a written check by anyone other than the accountholder A virtual assistant that makes real phone calls such as making actual appointments or reservations. Google has lead this new technology. A simple way to determine how long it takes for an investment to double. Formula: 72 ÷ interest rate = years to double an investment. Using a debit card with password that is attached to the customer’s bank account, the ATM will disburse cash from the checking account balance to the customer. Online banks that do not need a physical location to provide customer support, Examples: BBVA, Obopay, and Chase Online) The electronic transfer of money from one account to another through computer-based systems. EFT examples: direct deposit, bill pay online, automatic payments, AYM, etc. Average rate of return on a savings account for one year. It is the most popular digital currency, launched in 2009, used to purchase goods and services via the Internet. Litecoin, Ripple, ash, Monero, and Ethereum have emerged as top cryptocurrencies behind Bitcoin. A document used to show how the bank and checkbook balances are brought into agreement Payments mad from a mobile device. Instead of paying with cash, check, or credit card, consumers us a mobile phone for goods and services. Leaders include ApplePay, Google Pay, Starbucks, Venmo, Zelle, Samsung, Square Cash, and Amazon. An app is needed on a smartphone to exercise this type of mobile payments. A report provided by the bank that provides checking account activity during a one-month period. Established in 1935 to insure bank customer accounts up to $5,000. Today, customer accounts are insured to $250,000. Banks must be a member of the FDIC. The balance in a checking account is less than the amount written on the check.
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