📒Account

A record maintained by a bank for a customer's deposits and transactions.

🔁ACH Transfer

An electronic funds transfer processed through the Automated Clearing House network.

🚫Anti-Money Laundering

Laws and procedures to prevent criminals from disguising illegal funds.

📁Asset Management

The professional management of investments on behalf of clients.

🏧ATM

An automated machine that allows customers to withdraw cash and check balances.

⚖️Balance

The amount of money currently held in an account.

🏦Bank

A financial institution that accepts deposits and provides loans and payment services.

🤝Bank Guarantee

A promise by a bank to cover a customer's liabilities if they default.

🏃Bank Run

A sudden mass withdrawal of deposits due to loss of confidence.

📃Bank Statement

A periodic record summarizing all activity in an account.

📜Basel Accords

International standards for bank capital adequacy and risk management.

🔗Blockchain

A distributed ledger technology that records transactions immutably.

🏢Branch

A physical location where a bank offers services to customers.

🏦Capital Requirement

The minimum capital a bank must hold to absorb losses.

🏛️Central Bank

A national institution that manages currency and monetary policy.

↩️Chargeback

A reversal of a payment initiated by the cardholder's bank.

🧾Check

A written order directing a bank to pay a specific amount.

🧾Checking Account

A deposit account designed for frequent transactions and payments.

🔄Clearing

The process of settling financial transactions between banks.

🏛️Clearing House

An intermediary institution that settles transactions between banks.

🔐Collateral

An asset pledged by a borrower to secure a loan.

🏢Commercial Bank

A bank that accepts deposits and makes loans to individuals and businesses.

✅Compliance

Adherence to laws, regulations, and internal policies by a bank.

❄️Compound Interest

Interest calculated on both the principal and accumulated interest.

📲Contactless Payment

A payment made by tapping a card or device near a reader.

🏭Corporate Banking

Banking services tailored to the needs of large businesses.

💳Credit

The ability to borrow money or obtain goods with a promise to pay later.

💳Credit Card

A payment card that allows the holder to borrow funds for purchases.

📄Credit Report

A detailed record of a person's borrowing and repayment history.

🔢Credit Score

A numerical rating of a person's creditworthiness based on history.