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
- Cash WithdrawalTaking physical money out of your account through an ATM, a bank teller, or cash back at a store checkout.
- CheckA written, dated order instructing your bank to pay a specific amount from your account to the person or business named on it.
- 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.
- Savings AccountA bank account meant for storing money you don't need right away, usually paying a small amount of interest on the balance.
- Credit UnionA member-owned, not-for-profit financial cooperative that offers banking services, often with lower fees and better rates than banks.
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.