Getting Started Guide:

Glossary - key terms for you to know
Common banking terms
A bank account helps you keep your money safe and easy to access. The common accounts are checking and savings accounts.

ATM (Automated Teller Machine)
You can make deposits and get cash at an ATM by following simple instructions on the screen. Wells Fargo ATM instructions are available in many languages.

Available balance
This is the amount of money you have in your account that is available for withdrawal. In addition to reflecting deposited funds, paid checks, and other transactions already paid from your account, it also reflects certain pending items, such as some purchases made with your ATM Card or Debit Card that have not yet been submitted for payment. Please note that some pending transaction activity (such as outstanding checks, scheduled payments, and some Debit Card purchases) may not be reflected in the Available Balance at any given time. Some deposits made in a banking store or ATM may not be immediately available for withdrawal or to cover other transactions.

Debit card
Your debit card is linked to your checking account and can be used to withdraw money and make deposits at ATMs, and to make purchases at merchants instead of writing a check. When you use your debit card to make purchases, the money is deducted from your primary linked checking account. It is not a credit card.

Adding money to your account. Deposits can be made to your account at a banking location, at ATMs, by mail, by automatic transfers or automatically through direct deposit.

Direct deposit
Direct deposit is a convenient, fast and safe way to receive payment. When you sign up for direct deposit, instead of receiving a paper check, your paycheck, federal benefits payment, or other recurring income is electronically deposited into your checking or savings account automatically. Direct deposit is also free of charge. Contact your employer to see if direct deposit is available to you.

Money the bank pays you for keeping your money at the bank in certain accounts.

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway. Overdrafts apply to checks, debit cards, or other transactions that are paid when the available balance in your deposit account is less than the amount of the transaction, which creates a negative balance in your account.

Overdraft Protection (ODP)
Overdraft protection is available money from your linked eligible savings, line of credit, or credit card account that is automatically transferred to bring your checking account back to a positive balance, up to the amount available in the linked eligible savings, line of credit, or credit card account.

Returned Item
A “returned item” (also called a “bounced check”) occurs when an item (such as a check or other transaction presented for payment) is returned unpaid because the available balance in your deposit account is less than the amount of the item.

Taking money out of your account. You can do this many different ways:
  • Write a check
  • Debit card purchase – use your debit card to make everyday purchases and pay bills worldwide at participating retailers and service providers – including online or by phone
  • ATM withdrawals – get cash at any ATM worldwide1
  • At any Wells Fargo store or banking location
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