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a person who money is paid to or should be paid to
Payee
money in the form of notes and coins, rather than checks or credit cards
cash
to exchange a check for cash
cash a check
money, which is owed to someone else, or the state of owing something
Debt
when a check cannot be paid or accepted by a bank because of a lack of money in the account
bounce a check
a small plastic card which can be used as a method of payment, the money being taken from you at a later time.
Credit Card
an amount of) money paid to the government, which is based on your income or of the cost of goods or services you have bought
Tax
On a check, the 9-digit number that identifies the bank upon which the payment is drawn.
Routing Number
protection against possible financial loss
Insurance
a sum of money which is borrowed, often from a bank, and has to be paid back
Loan
When writing a check to pay a bill, what goes on the "Pay To" line?
Name of the company or person who is owed the money.
You take $40.00 from you account at an ATM machine to have money for lunch with friends. Do you add or subtract $40.00 from your account balance?
Subtract
True or False: We do not need to know how much money is in our account so that we don't run out of money for the things we need.
False
Your $12.00 monthly payment for Netflix is automatically deducted from you account. Will you add or subtract $12.00 from your balance?
Subtract
You need to pay your rent of $500.00 today. The balance in your account is $900.00. Do you have enough money to pay the rent today?
Yes
You put $200.00 you got as a birthday gift into your bank account. Do you add or subtract the $200.00 from the balance.
Add
You pay your $50.00 cell phone bill online. Will add or subtract $50.00 from your account?
Subtract
Your paycheck of $200.00 is automatically deposited into your account. Do you add or subtract $200.00 from the balance?
Add
Your current balance is $100. You deposit $50 in your account. What is your balance now?
$150
You pay $160.00 for your utility bill. Will add or subtract $160 from your account?
subtract
These are the set of numbers at the bottom of the check that show your personal account information.
account number
A plan that you make for managing your money
a budget
Different locations of a bank are called
branches
What does PIN stand for?
Psersonal identification Number
If the bank is closed, how can you get money out of your account
Use the ATM
a small machine used to help you count money
calculator
building we go to for money services
bank
What do banks store of all the money in
bank vault
What you will need to do if you run out of money in your account
transfer money from another account or make a deposit
A piece of paper used to pay for things
check
When your account balance falls below zero
overdrawn
The money you make by working
salary, income or wages
Another name for net- pay
take home pay
Money you receive on a regular basis
income
The amount of money you earn from money in your savings account
interest
An account that you use to pay your bills that is linked to your debit card
checking account
The electronic transfer of a payment directly into your bank account
Direct Deposit
What does ATM stand for
Automatic Teller Machine
The act of taking money out of your account
with drawal
The fee that the bank charges you for spending more money than you have
over draft fee
The person who is at the window of the bank
teller
An account that you have to save money and do not touch
savings account
The amount of money you have in your bank account
balance
Money spent on something is called an
expense
Your _____ _____ is what you use to pay for items from your checking account
Debit Card
You will be charged a ______ if you overdraw your account
Fee
You have to pay _____ if you do not pay your credit card off every month.
Interest
True or False: You should use your credit card to pay monthly bills
FALSE
At the end of each month you will receive a ___________ in the mail
Bank Statement
Which financial institution gives you loans with lower interest rates?
Credit Union
Which financial institution has more locations?
Banks
Which financial institution is owned by the people who deposit money into it?
Credit Union
Which financial institution is owned by a company?
A Bank
Which type of account gives you a small percent of interest back?
Savings
Which financial institution is not for profit?
Credit Union
What does 'overdraw' mean?
Spent more money than you had in your account.
Do you need to deposit money in an account when you open one?
Yes
What does ATM stand for?
Automated Teller Machine
What is a withdrawal?
Taking money out of your account.
What is a DEPOSIT?
Putting money in your account
A 4 digit number that only you know
PIN Number
Who is the person behind the counter at a bank that helps you?
A Teller