⚠️Overdraft

A deficit in an account caused by withdrawing more than the balance.

🚪Payment Gateway

A service that authorizes and processes electronic payments for merchants.

👥Peer-to-Peer Lending

A method of borrowing and lending directly between individuals online.

👴Pension Fund

A fund that collects contributions to provide retirement income.

🛒Point of Sale

The location and system where a retail transaction is completed.

🏛️Principal

The original amount of money borrowed or invested, excluding interest.

💎Private Banking

Personalized financial services for high-net-worth individuals.

🏦Reserve Requirement

The minimum fraction of deposits banks must hold as reserves.

🛒Retail Banking

Banking services offered directly to individual consumers.

⚠️Risk Management

The identification and mitigation of financial and operational risks.

🔢Routing Number

A nine-digit code identifying a bank in the United States.

🔐Safe Deposit Box

A secure container in a bank vault for storing valuables.

🐖Savings Account

A deposit account that earns interest and is meant for saving.

✅Settlement

The final transfer of funds completing a financial transaction.

🧱Solvency

A bank's ability to meet its long-term obligations.

🌍SWIFT Code

A unique code identifying banks for international wire transfers.

🌐Systemic Risk

The risk that failure of one institution destabilizes the whole system.

🧑‍💼Teller

A bank employee who handles customer transactions at a branch.

💵Transaction Fee

A charge imposed by a bank for processing a transaction.

📝Underwriting

The process of assessing risk before issuing a loan or insurance.

📊Wealth Management

Advisory services managing investments and financial planning for clients.

⚡Wire Transfer

An electronic transfer of funds between banks or accounts.

💸Withdrawal

The removal of funds from a bank account.