1. Savings Account: A type of deposit account offered by retail banks where individuals can store their money and earn interest on the balance.

2. Checking Account: A bank account that allows individuals to deposit and withdraw funds, write checks, and make electronic transactions.

3. ATM (Automated Teller Machine): A self-service machine that allows individuals to perform basic banking transactions, such as withdrawing cash, depositing checks, and checking account balances.

4. Debit Card: A payment card that deducts money directly from a checking account when making a purchase, eliminating the need for cash or checks.

5. Credit Card: A payment card that allows individuals to borrow money from a bank or financial institution to make purchases, with the obligation to repay the borrowed amount along with interest.

6. Interest Rate: The percentage charged by a lender to a borrower for the use of money, typically expressed as an annual percentage rate (APR).

7. Loan: A sum of money borrowed from a bank or financial institution that is repaid over time, usually with interest.

8. Mortgage: A loan used to finance the purchase of a property, where the property itself serves as collateral for the loan.

9. Overdraft: A financial arrangement that allows a customer to withdraw more money from their checking account than is available, resulting in a negative balance and often incurring fees.

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10. Online Banking: A service provided by retail banks that allows customers to access and manage their accounts through the internet, including transferring funds, paying bills, and viewing transaction history.

11. Mobile Banking: A banking service that enables customers to perform various financial transactions using a mobile device, such as smartphones or tablets.

12. Direct Deposit: A service that electronically transfers funds directly into a bank account, such as a paycheck or government benefits.

13. Interest-Bearing Account: A type of bank account that earns interest on the deposited funds, such as a savings account or a certificate of deposit (CD).

14. Certificate of Deposit (CD): A time deposit offered by banks with a fixed term and interest rate, where the funds cannot be withdrawn until the maturity date without incurring penalties.

15. Wire Transfer: A method of electronically transferring funds from one bank account to another, often used for large transactions or international transfers.

16. ATM Fee: A charge imposed by a bank for using an ATM that does not belong to the customer’s bank network.

17. Minimum Balance: The minimum amount of money required to be maintained in a bank account to avoid fees or penalties.

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18. Overdraft Fee: A fee charged by a bank when a customer’s account balance goes below zero due to an overdraft.

19. Annual Fee: A yearly fee charged by credit card issuers for the privilege of using their credit card.

20. Credit Score: A numerical representation of an individual’s creditworthiness, based on their credit history and financial behavior.

21. APR (Annual Percentage Rate): The annualized interest rate charged on a loan or credit card, including both the interest rate and any additional fees.

22. Collateral: An asset or property pledged by a borrower to secure a loan, which can be seized by the lender if the borrower fails to repay the loan.

23. Foreclosure: The legal process by which a lender takes possession of a property due to the borrower’s failure to make mortgage payments.

24. Equity: The value of an asset after deducting any outstanding debts or liabilities associated with it, often used to refer to the ownership value in a property.

25. Compound Interest: Interest that is calculated not only on the initial principal but also on the accumulated interest from previous periods.

26. Financial Planning: The process of setting financial goals, creating a budget, and developing strategies to achieve those goals.

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27. Identity Theft: The fraudulent acquisition and use of an individual’s personal information, such as social security number or credit card details, for financial gain.

28. FDIC (Federal Deposit Insurance Corporation): A U.S. government agency that provides deposit insurance to protect depositors’ funds in case of bank failures.

29. ATM Skimming: A method used by criminals to capture card information by installing a device on an ATM that reads the magnetic stripe or records keystrokes.

30. Phishing: A fraudulent attempt to obtain sensitive information, such as usernames, passwords, or credit card details, by disguising as a trustworthy entity in electronic communication.

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