| direct deposit | an automatic deposit of net pay to an employee’s designated bank account |
| automated teller machine (ATM) | a computer terminal that allows a withdrawal of cash from an account |
| debit card | a cash card that allows you to withdraw money or pay for purchases from your checking or savings account |
| point-of-sale transaction | a purchase by a debit card of a good or service at a retail store, a restaurant, or elsewhere |
| commercial bank | a for-profit institution that offers a full range of financial services, including checking, savings, and lending |
| savings and loan association (S&L) | a financial institution that traditionally specialized in savings accounts and mortgage loans but now offers many of the same services as commercial banks |
| credit union | a nonprofit financial institution that is owned by its members and organized for their benefit |
| certificate of deposit (CD) | a savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return |
| money market account | a savings account that requires a minimum balance and earns interest that varies from month to month |
| rate of return | the percentage of increase in the value of your savings from earned interest |
| compounding | the process in which interest is earned on both the principal—the original amount you deposited—and on any previously earned interest |
| annual percentage yield (APY) | amount of interest that a $100 deposit would earn, after compounding, for one year |
| overdraft protection | an automatic loan made to an account if the balance will not cover checks written |
| stop-payment order | a request that a bank or other financial institution not cash a particular check |
| endorsement | the signature of the payee, the party to whom the check has been written |
| bank reconciliation | a report that accounts for the differences between the bank statement and your checkbook balance |
