Financial Literacy: Unit 2 Terms

Check Register

A record that lets you keep checks you’ve written, ATM/Debit card transactions, and deposits/withdrawals.

Direct Deposit

An automatic, online transfer of one’s net pay to their bank account.

FDIC ( Federal Deposit Insurance Corporation)

A government agency that guarantees customer deposits if a bank fails up to $250,000 per depositor.

Online Bill Pay

A consumer, banking feature that lets you schedule and make payments online.

PIN

A personal identification number required to use an ATM card.

Wire Transfer

An electronic method to move funds from one bank account to another bank account in a different bank instantly.

P2P Payments

A digital transfer of money from one person to another, often through a mobile app.