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.
- ATM (Automated Teller Machine)A machine that lets you withdraw cash, deposit money, or check your balance without visiting a teller, using your debit card and PIN.
- PIN (Personal Identification Number)A private numeric code you enter to authorize debit card purchases and ATM withdrawals, protecting your account from unauthorized use.
- OverdraftWhat happens when you spend more than your account holds, leaving a negative balance that the bank may cover for a fee.
- Available BalanceThe money in your account you can actually spend right now, after subtracting holds and pending transactions from the total balance.
- Credit CardA card that lets you borrow from a lender for purchases up to a limit, requiring repayment and charging interest on unpaid balances.
More in Banking
Account NumberAccount ReconciliationACH TransferAPR (Annual Percentage Rate)APY (Annual Percentage Yield)ATM Fee
Plain-English education — not personalized legal, tax, or investment advice.