nefe high school financial planning program unit 5

 
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16 terms

carlilove

Unit 5 Financial Planning

Vocabulary for Unit five in the book "NEFE High School Financial Planning Program"

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Savings Account
An account you have at a financial institution that helps you accumultate and save money and earn a small amount of interest at the same time.
Share Account
The credit union term for a checking account.
Automated Teller Machine (ATM)
An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions.
Checking Account
A bank or credit union account that allows withdrawals by writing a check.
Share Draft Account
The credit union term for a checking account.
Endorse
To sign the back of a check to make it payable to the specified payee.
Debit Card
A card that is used to deduct a purchase amount directly from your checking account instead of drawing on a line of credit; also called "check card"
Personal Identification Number (PIN)
The unique passcode number you use to get access to your savings and/or checking account.
Online Banking
you can view your savings and checking account activity, transfer money between accounts, and even pay bills with just a few clicks of the mouse.
Electronic Funds Transfer (EFT)
A way to give permission to pay bills and have paychecks deposited directly into your account via electronic terminal, automated teller machine, computer, or telephone
Identity Theft
when someone uses your name, Social Security number, credit card number, and other personal information without your permission.
Phishing
An identitiy theft tool that appears in the form of and E-mail or pop-up message; usually looks like it’s from a legitimate financial institution a nd prompts you to provide your personal information in order to fix a "problem" with your account.
Free Software
also known as freeware; can be used to obtain your personal information from your computer.
Spyware
A bad side effect of free downloads that may be used to send you pop-up ads, redirect your computer to unwanted Web sites, monitor your internet surfing, or record your keystrokes in an effort to steal your identity.
Credit Union
A financial institution owned by its members that provides savings and checking accounts and other services to its membership at low fees.
Bank
A for-profit company that is owned by its stockholders and provides savings and checking accounts and other financial services to its customers.