- ACH
- A US network banks use to move money between accounts, usually within one to two working days.
- APY
- Annual percentage yield: the interest you earn in a year, including interest on your interest.
- Contactless
- Paying by tapping your card or phone on a card reader.
- Debit card
- A card that spends money already in your account.
- Exchange rate
- How much of one currency you get for another. The “real” or mid-market rate is the midpoint between buying and selling prices.
- Index fund
- A fund that tracks a market index, such as the 500 largest US companies, instead of picking single stocks.
- Mark-up
- Extra added to an exchange rate. It is a fee, even when a provider says “no fee”.
- PIN
- The personal number you use with your card at a machine. Never share it.
- Round-ups
- Rounding each card payment up to the next dollar and saving the difference.
- Virtual card
- A card number that lives in your app, for online and in-wallet payments.