Glossary
New Accounts Clerk Terms & Vocabulary
15 essential new accounts clerk terms with plain-English definitions: the vocabulary you’ll hear in training and on day one.
Key new accounts clerk vocabulary
These 15 terms come up constantly in new accounts clerk training, on the job and in interviews. Knowing them helps you follow instructions, document accurately and sound prepared.
- APY
- Annual percentage yield.
- Beneficial owner
- Person who owns a business.
- Business account
- Account for a company.
- CD
- Certificate of deposit.
- Checking account
- Account for everyday spending.
- ChexSystems
- Account history database.
- CIP
- Customer Identification Program.
- Debit card
- Card linked to checking.
- FDIC insurance
- Deposit protection.
- Joint account
- Shared account.
- KYC
- Know your customer.
- Overdraft protection
- Covers overdrafts.
- POD
- Payable on death beneficiary.
- Savings account
- Account that earns interest.
- Signature card
- Authorized signers.
Practice these terms
Test yourself with the free New Accounts Clerk practice test: it includes vocabulary questions built from this list. For a complete course, see New Accounts Clerk training.
Browse terms from every career in our career glossary.