Reference

A form used to report miscellaneous income, such as rent, prizes, or payments made to non-employees during the tax year.

An IRS form used to report payments of $600 or more made to non-employees, such as independent contractors.

A unique set of numbers assigned to your specific bank account, used to identify it for deposits, withdrawals, and other transactions.

Automated Clearing House is a digital network used to move money between bank accounts in the United States, like when your employer directly deposits your paycheck into your account or you pay a monthly utility bill automatically.

American Depositary Receipt is a way for you to buy shares of a foreign company, such as a Japanese car manufacturer, through a U.S. stock exchange just like you would buy shares of a local business.

A tax return filed on Form 1040-X to correct errors or report missed income or deductions from a previously submitted return.

Automated Teller Machine is a self-service kiosk that allows you to withdraw cash, deposit money, or check your account balance at any time without needing to visit a physical bank branch.

An official examination of an individual's or organization's financial records to verify that the correct amount of tax was reported.

A situation where a large number of customers withdraw their deposits from a bank simultaneously due to fears of the bank's insolvency.

A periodic summary of account activity issued by a bank to the account holder showing deposits, withdrawals, and balances.

A financial report showing how money enters and leaves a business during a specific period. It helps owners understand whether the business has enough cash to cover its expenses.

Certificate of Deposit is a type of savings account where you agree to leave your money untouched for a set period, like one year, in exchange for a higher interest rate than a standard savings account.

A strategy of buying multiple certificates of deposit with different maturity dates to maintain liquidity and capture varying interest rates.

A bank account that allows for easy deposits and withdrawals for daily transactions and bill payments.

A financial institution that accepts deposits, offers checking account services, and provides loans to businesses and individuals.

A report prepared by a real estate agent comparing a property to similar homes recently sold in the area.

A security measure that restricts access to your credit report, making it difficult for identity thieves to open new accounts in your name.

The personal identification section of a credit report that contains identifying information such as name, current and previous addresses, and social security number.

A request by a lender to review your credit report, usually triggered when you apply for a new loan or credit card.

A service that tracks activity on a consumer's credit report and sends alerts regarding new accounts, inquiries, or changes in credit status.

The process of trying to improve a person's credit score by disputing errors or inaccuracies on their credit report.

A detailed record of your credit history, including your loan types, payment history, and credit account status.

Money kept in a bank account that the owner can withdraw at any time without having to give the bank prior notice.

An electronic transfer of a payment directly from the payer’s account to the recipient’s bank account.

The interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility. It influences other interest rates in the economy.

A deposit made to a seller that represents a buyer's good faith to buy a home.

Electronic Funds Transfer is the simple digital movement of money from one bank account to another. A common example is when your employer directly deposits your paycheck into your checking account or when you use an app to pay a friend back for lunch.

An Exclusive Provider Organization is a type of health insurance plan where you generally only get coverage if you use doctors, specialists, or hospitals in the plan's network. It is like being in a specific club where the insurance company only pays for your care if you visit the club's approved list of providers, unless it is a true medical emergency.

One of the three major national credit reporting agencies that collects and maintains data on consumer credit behavior. Lenders purchase reports from this agency to evaluate creditworthiness.

Currency deposited by national governments or corporations in banks located outside their home country, such as U.S. dollars held in a bank in Japan.

US dollar-denominated deposits held in banks outside the United States, frequently used for international lending and financing.

The Fair Credit Reporting Act is a law that protects the accuracy and privacy of the information in your credit report. It ensures that credit bureaus cannot just make things up about your spending habits and gives you the right to correct any mistakes that could hurt your ability to borrow money.

The Federal Deposit Insurance Corporation is a government agency that protects your money if your bank happens to go out of business. It is essentially an insurance policy for your bank account that guarantees your deposits are safe up to a certain amount, so you do not have to worry about losing your life savings.

Protection provided by the Federal Deposit Insurance Corporation that guarantees the safety of deposits in member banks up to a certain limit.

The interest rate at which depository institutions lend reserve balances to other depository institutions overnight. It is the target rate set by the Federal Reserve to guide monetary policy.

A twelve-month period used by a company or government for accounting purposes and financial reporting.

The standard federal income tax form used by individual taxpayers to report their annual income and calculate their taxes.

A form provided by lenders that reports the amount of interest paid on a student loan during the tax year.

A banking system in which only a fraction of bank deposits are backed by actual cash on hand and available for withdrawal.

A notice on a credit report that tells lenders to take extra steps to verify your identity before granting credit.

Annual Gift Tax Exclusion — The specific amount of money or value one person can give to another in a single year without having to report it to the IRS.

A request by a lender to review your credit report as part of the application process for a loan or credit card.

A process where a retirement account owner receives a check and must deposit the funds into a new account within 60 days to avoid taxes.

A narrow category of money supply that includes physical currency, demand deposits, and other liquid assets. These are assets that can be quickly converted into cash for spending.

A broad measure of the money supply that includes M1 plus 'near money' such as savings deposits, money market funds, and certificates of deposit. It is a key indicator of potential future inflation.

A demand by a broker that an investor deposit further cash or securities to cover possible losses.

A feature of many banking apps that allows users to deposit paper checks by taking a picture of them with a smartphone.

The total amount of a currency that is either in general circulation in the hands of the public or in the commercial bank deposits held in the central bank's reserves.

The total amount of monetary assets available in an economy at a specific time. It includes physical currency, such as coins and paper money, as well as various types of bank deposits.

Protection provided by the National Credit Union Administration that covers deposits in credit unions similarly to FDIC insurance.

A business structure where the income is not taxed at the entity level but is instead reported on the owners' personal tax returns.

US dollars earned by oil-exporting countries through the sale of oil and then deposited in Western banks.

An informal evaluation by a lender to estimate how much money a person might be able to borrow based on self-reported data.

A service that allows customers to scan checks and transmit the images to a bank for posting and clearing.

The act of a lender taking back an asset, such as a vehicle, after a borrower defaults on the loan used to purchase it.

The minimum amount of funds that a bank must hold in reserve against specified deposit liabilities.

The specific amount of funds that a bank must hold in reserve against specified deposit liabilities. These funds must be kept as vault cash or deposits with a central bank.

A secure container kept in a bank's vault, rented by customers to store valuable items or important documents.

A type of credit card that requires a cash security deposit, which usually acts as the credit limit.

A summary document sent to students after they submit the FAFSA, detailing their financial information and aid eligibility.

A bank deposit that earns interest but requires the funds to remain in the account for a fixed term to avoid paying a fee.

An individual account on a credit report, such as a credit card, mortgage, or auto loan.