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Introduction to Banking

Horizontales
An account that gives you the ability to write checks and have a debit card attached.
A card with a certain amount of money on it; what you use has to be paid back (sometimes this includes paying interest as well)
Non-sufficient funds
An account to store money; earns interest
General account that the bank owns
Any unauthorized purchases not made by you
Another word for Checking Account
Money borrowed from the bank after the account reaches $0; money that must be paid back
Money borrowed from a financial institution; must be paid back with interest
Cost of borrowing money
Verticales
Money cannot be released until the funds are verified; money is held up until the hold is over
Earns money for a certain amount of time
Federal Deposit Insurance Corporation: insures deposits, which protects money
A secure box that stays in the vault; holds personal items
A card connected to a checking account to spend money
The bank or financial institution’s personal identification number
Way to deposit checks without going to the bank
You can leave checks here overnight to be processed the next business day
Like a savings account, but you can write checks