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.
- Savings AccountA bank account meant for storing money you don't need right away, usually paying a small amount of interest on the balance.
- Monthly Maintenance FeeA recurring charge some banks apply to keep an account open, often waived if you meet a balance or direct deposit requirement.
- Available BalanceThe money in your account you can actually spend right now, after subtracting holds and pending transactions from the total balance.
- Account ReconciliationComparing your own record of transactions against your bank statement to catch errors, missed charges, or fraud.
- Minimum BalanceThe lowest amount you must keep in an account to avoid fees, earn interest, or qualify for certain account benefits.
More in Banking
Account NumberACH TransferAPR (Annual Percentage Rate)APY (Annual Percentage Yield)ATM (Automated Teller Machine)ATM Fee
Plain-English education — not personalized legal, tax, or investment advice.