Relacionar Columnas Banking TermsVersión en línea Vocabulary por Tony Gibson 1 Bitcoin 2 Bank Reconciliation 3 Bank Statement 4 Insufficient Funds 5 Average Percentage Rate 6 ATM 7 Digital Only Banking 8 Service Charge 9 Certificate of Deposit 10 AI Assistant 11 Mobile Wallet 12 Altering a Check 13 Federal Deposit Insurance Corporation 14 Rule of 72 15 Electronic Funds Transfer 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. A report provided by the bank that provides checking account activity during a one-month period. Average rate of return on a savings account for one year. A savings certificate issued by a bank for a specific amount, at fixed rates of interest, until a specified maturity date 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 A virtual assistant that makes real phone calls such as making actual appointments or reservations. Google has lead this new technology. 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 simple way to determine how long it takes for an investment to double. Formula: 72 ÷ interest rate = years to double an investment. A fee a bank charges for servicing a checking account, however, many banks no longer charge this fee The balance in a checking account is less than the amount written on the check. 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. An illegal act of changing the face (amount, payee, date, signature) of a written check by anyone other than the accountholder 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.
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