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
- Online BankingManaging your accounts through a bank's website, letting you check balances, move money, pay bills, and view statements from a browser.
- High-Yield Savings AccountA savings account that pays a much higher interest rate than a standard one, often offered by online banks with lower overhead.
- Checking AccountA bank account built for everyday spending, letting you deposit money and pay for things with a debit card, checks, or transfers.
- Monthly Maintenance FeeA recurring charge some banks apply to keep an account open, often waived if you meet a balance or direct deposit requirement.
- ATM FeeA charge for using a cash machine outside your bank's network, sometimes billed by both the machine's owner and your own bank.
- Mobile BankingUsing a bank's smartphone app to check balances, transfer funds, deposit checks, and manage accounts on the go.
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.