The period of time a deposit is to be held or over which a loan must be repaid.

terms and conditions

Opening an account means, in effect, that a contract has been entered into with a financial organisation and that a series of terms and conditions are agreed to. These outline how the account can be used. Terms and conditions are available from any financial organisation. Booklets outlining terms and conditions are also called Product Disclosure Statements.


The name given to activities, such as making deposits and withdrawals or transferring money from bank accounts.

tax file number (TFN)

A unique nine digit number issued by the Australian Taxation Office to individuals and organisations, to identify them for taxation purposes. The number is specific to a person or an organisation.


To move money from one account to another account.