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
- Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
- Routing NumberA nine-digit code that identifies your bank so payments and transfers reach the right institution within the United States.
- Account NumberThe unique string of digits that identifies your specific account at a bank, paired with the routing number to direct transactions.
- Mobile Check DepositDepositing a paper check by photographing its front and back with your bank's app instead of visiting a branch or ATM.
- Deposit Hold PeriodThe time a bank keeps part of a deposited check unavailable while it confirms the funds will clear from the paying account.
- Bill PayA banking feature that sends payments to your billers automatically or on demand, either electronically or by mailed check.
More in Banking
Account ReconciliationACH TransferAPR (Annual Percentage Rate)APY (Annual Percentage Yield)ATM (Automated Teller Machine)ATM Fee
Plain-English education — not personalized legal, tax, or investment advice.