The following words and phrases when used in this act shall have the meanings given to them in this section unless the context clearly indicates otherwise:

“ATM.” An automated teller machine.

“Financial institution.” A bank or savings association as those terms are defined in section 1813 of the Federal Deposit Insurance Act (64 Stat. 873, 12 U.S.C. § 1813) or credit union eligible for insurance of member accounts under the Federal Credit Union Act (48 Stat. 1216, 12 U.S.C. § 1751 et seq.).

“Payroll card account.” An account that is directly or indirectly established through an employer, to which transfers of the employee's wages, salary, commissions or other compensation are made.