Checking account

Term Definition
ATM a bank machine that gives out cash from your account and accepts deposits around the clock.
Check A debit against your checking account written on a paper form.
Debit Card Like a credit card, but directly attached to a checking account;
Direct Deposit An automatic deposit of a paycheck without having to take a physical check to the bank.
Overdrafts Amounts withdrawn from your account beyond the money the account holds
Federal Reserve the central banking system of the United States. These three parts work together to prevent banking disasters and promote a healthy economy.
Credit Union a cooperative bank, meaning it is privately owned and controlled by its members
Routing Number The first range of numbers in the series of numbers at the bottom of a check that indicates which Federal Reserve district the bank issuing the check belongs to.

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