Banking Literacy - Basic Vocabulary | Baamboozle - Baamboozle

English 14 Public

basic banking vocabulary

Study Slideshow

What does "current balance" mean?

total amount of money in a bank account

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What does "transaction" mean?

Activity in a bank account (withdrawals and deposits)

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What does "balance forward" mean?

The total amount of money in your bank account.

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What does "withdrawal" mean?

Money you take out of an account.

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What does "payroll deposit" mean?

Money put into your bank account by your employer.

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What does "service charge" mean?

Fees you pay for the bank services.

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What does "credit" mean?

Money added to the bank balance.

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What does "Automated Teller" mean?

A bank machine or ATM.

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What does "debit" mean?

The amount of money in your taken out of your account.

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What does "bill payment" mean?

The amount used to pay a bill.

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What does "deposit" mean?

Money put into your bank account.

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What does "direct payment purchase" mean?

A purchase you pay for with your card (debit or credit).

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What does "pre-authorized debit" mean?

A pre-authorized debit that you agreed to.

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What does "online banking" mean?

Using a computer or mobile device to make banking transactions and read statements.

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