payee -- An individual or company to whom a check is written; one who receives money as payment.

payer -- An individual or company who writes a check; one who gives money as payment.

personal identification number (PIN) -- A code that provides security for consumers at an ATM.

posting date -- The date when a transaction is recognized on your account.

pre-approved -- A term used to denote a credit offer that is extended after the creditor has performed a credit pre-screening process.

previous balance -- The balance that has carried over from the previous billing period.

prime rate -- An index rate that is used to determine the APR in a variable interest rate account.