Glossary Of Bank Accounts

1. Glossary Of Bank Accounts A glossary of financial terms helps to understand the meaning of common banking words and hence, makes it easier to deal with the bank accounts. An account is offered by a bank to the customers for carrying out operations like deposit and withdrawal of cash. Account 01 When a bank account does not have enough funds to cover the payment requested from the account, the bank charges overdraft fee. Overdraft Fee 02 It is the electronic transfer of payments like your salary, social security amount and other incomes directly to your account. Direct Deposit 03 A bank pays interest in the form of money to the customers for maintaining minimum balance in their savings account. Interest 04 Facility that enables customers to access their account online through the use of internet. It makes banking convenient. Online Banking 05 It is the money that the customers invest or store in bank accounts to be used whenever needed. Savings 06 3509 E Race Avenue Searcy, AR 72143 133 Arkansas Blvd. Texarkana, AR 71854 1815 E. Highland Drive Jonesboro, AR 72401 2875 W. Martin Luther King Fayetteville, AR 72704 304 S. Rockwood Drive Cabot, AR 72023 www.1stnb.com All loans and collateral subject to approval First National Bank Texas | NMLS #402924 | Member FDIC | Equal Housing Lender