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
- NCUA InsuranceThe credit union equivalent of FDIC coverage, protecting deposits up to a set limit if an insured credit union fails.
- Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
- Savings AccountA bank account meant for storing money you don't need right away, usually paying a small amount of interest on the balance.
- Online BankA bank that operates entirely over the internet without physical branches, often passing lower costs on as higher rates and fewer fees.
- Out-of-NetworkProviders without a contract with your insurer, which usually means higher costs or no coverage at all.
- Joint AccountA bank account shared by two or more people, where each owner can deposit, withdraw, and manage the money independently.
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.