Some common banking terminologies

• Account Types:
  • Checking Account
  • Savings Account
  • Certificate of Deposit (CD)
  • Money Market Account
• Financial Products:
  • Loan
  • Mortgage
  • Credit Card
  • Debit Card
  • Home Equity Line of Credit (HELOC)
• Services:
  • Online Banking
  • Mobile Banking
  • Direct Deposit
  • Wire Transfer
  • ATM (Automated Teller Machine)
• Interest and Fees:
  • Interest Rate
  • Compound Interest
  • Annual Percentage Rate (APR)
  • Overdraft Fee
  • Maintenance Fee
• Credit and Scores:
  • Credit Score
  • FICO Score
  • Credit Report
  • Credit Limit
  • Creditworthiness
• Regulatory Concepts:
  • Federal Deposit Insurance Corporation (FDIC)
  • Know Your Customer (KYC)
  • Anti-Money Laundering (AML)
  • Dodd-Frank Act
  • Consumer Financial Protection Bureau (CFPB)

We will discuss each of them in next articles.