Check A written order from an individual to a bank that instructs the bank to pay money to another party

Checking Account An account into which a person deposits money and from which a person withdraws money by writing checks or using a debit card

Debit Card Enables one to withdraw cash from an ATM or to pay directly for goods or services at stores and restaurants

Federal Deposit Insurance Corporation (FDIC) A major federal insurer that provides deposit insurance on the first $250,000 deposited in a bank account

Personal Identification Number (PIN) Typically a four digit number needed to access a bank account or debit card

Automatic Teller Machine (ATM) Provides banking customers with to financial transactions in a public space without the need for a bank teller

Bank Draft Used to authorize someone to withdraw money from a bank account automatically to satisfy some financial obligation

Cashier’s Check A type of check that is written to a specific payee but charged against a bank instead of an individual account

Depository Institution A financial institution, such as a savings bank, that is legally allowed to accept monetary deposits from consumers

Non Depository Institutions Insurance companies, finance companies, and securities firms and investment companies that provide certain financial services but do not accept traditional deposits