A fuller guide to this term is on the way. In the meantime, the related terms below explain the ideas around it.
Related MoneyPedia terms
- Joint AccountA bank account shared by two or more people, where each owner can deposit, withdraw, and manage the money independently.
- Credit CardA card that lets you borrow from a lender for purchases up to a limit, requiring repayment and charging interest on unpaid balances.
- Debit CardA card tied to your checking account that pulls money directly from your balance when you pay for something or withdraw cash.
- Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
- BeneficiaryA person or entity you choose to receive assets from a will, trust, account, or insurance policy.
- Credit ScoreA number that sums up how you've handled borrowing, shaping the rates you're offered.
More in Banking
Account NumberAccount ReconciliationACH TransferAPR (Annual Percentage Rate)APY (Annual Percentage Yield)ATM (Automated Teller Machine)
Plain-English education — not personalized legal, tax, or investment advice.