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Finance book 1 definitions 1-15

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  • a method of payment; a written document ordering the bank to pay money on sb’s behalf
    CHECK
  • an amount of money for a particular service
    FEE
  • an electronic cash machine
    ATM
  • rates expressed as an annual percentage of an account or loan which is charged by a bank for borrowing its money
    INTEREST RATES
  • a bank account with higher interest than a checking account, but there are usually withdrawal restrictions
    SAVINGS ACCOUNT(S)
  • a bank account from which money can be easily accessed
    CHECKING ACCOUNTS
  • a private bank that provides banking services to the public
    COMMERCIAL BANK
  • a percentage price charged on borrowed money
    INTEREST
  • an agreement with a bank, allowing you to withdraw more money than you have available
    OVERDRAFT
  • a bank that offers banking services to individuals and small companies
    RETAIL BANK
  • money borrowed from the bank in order a loan to buy a car
    AUTO LOAN
  • a plastic card used to draw money directly from the user’s bank account
    DEBIT CARD
  • money is to move it from one places to another
    TRANSFER
  • to have the ability to withdraw money from an account
    ACCESS