Balance
The amount available in an account. The balance is the net of all credits minus all debits. A positive account balance indicates the holder has money. Meanwhile, a negative balance indicates the holder owes money. Account balances are important because they are indicative of whether the holder has money for living expenses.
Debit Card
A debit card is thin, rectangular, plastic payment mechanism issued by a bank. The card electronically enables holders to withdraw money or pay for purchases directly from their bank accounts.
Financial Services
Financial services are a category of businesses that serves the finance industry. This sector includes banks, credit unions, accounting firms, brokerage companies, insurance agencies, and mutual funds.
Underwriting
Underwriting is the process through which an individual or institution evaluates and assumes a financial risk. Generally, such risk involves insurance, investments, or loans. Thus, insurance companies indemnify against future loss, damage, or liability. Investment bankers guarantee the purchase of entire issues of stocks or bonds. And lending institutions provide capital for mortgages. The term “underwrite” dates back to the marine insurance market in 17th century. At famed insurer Lloyd's of London, each financial backer would write his name under the amount of maritime risk he was willing to assume for a specified premium.