Annual percentage rate (APR)
The cost of credit on a yearly basis, expressed as a percentage.
Annual Percentage Yield (APY)
A percentage rate reflecting the total amount of interest paid on a deposit account based on the interest rate and the frequency of compounding for a 365-day year.
Apple Pay®
Apple Pay® is easy and works with the Apple devices you use every day. You can make secure purchases in stores, in apps, and on the web. And now you can send and receive money from friends and family right in Messages. Apple Pay® is even simpler than using your physical card, and safer too. Vista Bank offers Apple Pay® - click here to learn more.
Automated Clearing House (ACH)
A computerized facility used by member depository institutions to electronically combine, sort, and distribute inter-bank credits and debits. ACHs process electronic transfers of government securities and provided customer services, such as direct deposit of customers' salaries and government benefit payments (i.e., social security, welfare, and veterans' entitlements), and preauthorized transfers.
Available Balance
The balance of an account less any hold, uncollected funds, and restrictions against the account.
Average Daily Balance
Amount used by banks to compute interest on deposit balances, and finance charges on credit card balances. For deposit accounts, ADB is equal to the total of balances in a month divided by the days in that month. For credit cards, it is total of the opening balance of the day less withdrawals (or purchases) plus any charges, divided by the number of days in that billing period.
Certificate of Deposit (CD)
A negotiable instrument issued by a bank in exchange for funds, usually bearing interest, deposited with the bank. CDs are a great way to save money that you won't be using for a little while. Vista Bank offers CDs for businesses and individuals.
Checking Account
A demand deposit account subject to withdrawal of funds by check, ACH, and/or debit card. Vista Bank offers a variety of personal checking accounts and business checking accounts that are each tailored to suit your specific needs.
Debit Card
A debit card allows the account owner to access their funds electronically. Debit cards may be used to obtain cash from automated teller machines or purchase goods or services using point-of-sale systems. The use of a debit card involves immediate debiting and crediting of consumers' accounts.
Direct Deposit
A payment that is electronically deposited into an individual's account at a depository institution. If you'd like to start receiving direct deposit into your current Vista Bank account, click here to download the easy-to-fill-out form!
Electronic Funds Transfer (EFT)
The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.)
EMV/Chip Card
An EMV card contains a computer chip that securely stores the card data. This makes it nearly impossible for a criminal to create a counterfeit EMV chip card. Vista Bank offers this technology on all our debit cards.
eStatement
A paperless, electronic bank statement that can be viewed online. Vista Bank offers this free and convenient service with most of our bank account types.
Federal Deposit Insurance Corporation (FDIC)
A government corporation that insures the deposits of all national and State banks that are members of the Federal Reserve System. Vista Bank is a member of FDIC.
Individual Retirement Account (IRA)
A retirement savings program for individuals to which yearly tax-deductible contributions up to a specified limit can be made. The amount contributed is not taxed until withdrawn. Withdrawal is not permitted without penalty until the individual reaches age 59 1/2. Learn more about Vista Bank's IRA offerings by clicking here.
Interest Rate
The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures.
Joint Account
An account owned by two or more persons. Either party can conduct transactions separately or together as set forth in the deposit account contract.
Minimum Balance
The amount of money required to be on deposit in an account to qualify the depositor for special services or to waive a service charge. Many of Vista Bank's accounts don't require minimum balances to avoid fees. Compare our business checking accounts and personal checking accounts to see which one is the right fit for you!
Money Market Account
A savings account that offers a higher rate of interest in exchange for larger than normal deposits. Insured up to $250,000 by the FDIC, these accounts have limits on the number of transactions allowed and may require higher balances to receive the higher rate of interest. At Vista Bank, we offer business Money Market Accounts and personal Money Market Accounts with competitive rates.
Overdraft Fee
A fee charged when a withdrawal from an individual's bank account exceeds the available balance. The bank will institute such a fee to cover the cost of the transaction. Overdraft fees vary by financial institution and can be incurred for each transaction going over the available account balance.
Overdraft Protection
Credit arrangement under which a bank automatically extends a short-term loan to cover a check's amount that exceeds the check writer's (drawer's) account balance. This arrangement ensures the check is not returned (bounced) due to not sufficient funds (NSF) which may call for a criminal charge.
Per annum
Yearly or annually.
Personal Identification Number (PIN)
Generally a four-character number or word, the PIN is the secret code given to credit or debit cardholders enabling them to access their accounts. The code is either randomly assigned by the bank or selected by the customer. It is intended to prevent unauthorized use of the card while accessing a financial service terminal.
Returned Item
A negotiable instrument—principally a check—that has been sent to one bank for collection and payment and is returned unpaid by the sending bank.
Savings Account
A bank account on which interest is paid, traditionally one for which a checkbook register is used to record deposits, withdrawals, and interest payments.

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