Banking Glossaries-A

Account agreement

An agreement which you sign and which lists your rights and responsibilities and the bank's rights and responsibilities for the bank account. .

Accounts payable

Money owed by a business for goods and services received.

Accounts receivable

Money owed to a business by purchasers of goods and/or services.

Affinity Card

A credit card (usually Visa or MasterCard) that has a promotion arrangement with an affiliated organization (often a charity or non-profit group). The logo of the group appears on the card and the group usually gets a percentage of the sales made on the card.

Angels

Private individuals with capital to invest in business enterprises.

Assets

Things that you own which have value in financial terms.

Automated Banking Machines (ABMs)

Terminals that allow customers to perform many everyday banking tasks, e.g., deposits, withdrawals, bill payments and transfers between accounts.

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