Managing Money Unit 5 Vocab

Automated Teller Machine (ATM)

A place where you can move your money into a checking account or withdraw your money in.

EFT or Electronic funds transfer

Allows employers to deposit your paycheck directly into your account.

Phishing

Can appear in the form of an email or pop up and tries to get you to click on it, but it is a scam.

Free software/freeware

Can be used to obtain your personal information from your computer.

Personal Idenification Number (PIN)

This is on the back of your debit card along with your name and account number.

Identity Theft

When someone uses your name, Social Secutiry number, or other personal information without your permission.

Endorse

When you take your check to the bank/credit union and sign (or endorse) it on the back.

Checking Account

also called share draft accounts (at a credit union) is an account you can open to put checks into an account.

Credit Unions

are financial institutions owned by their customers, who are also called members.

Savings Account

or a share account (at a credit union) is a plce to deposit money you don't plan to spend right away.

Debit cards

sometimes called "check cards" act like checks deducting the amount of your purchase from your checking account.

Online banking

you can view your savings and checking account activity, transfer money between accounts, and even pay bills with just a few clicks of the mouse.

Spyware

A bad side effect of free download that may be used to send you pop-up ads, redirect your computer to unwanted Web sites, monitor your internet surfing, or record your keystrokes in an effort to steal your identity.