Study

Banking Literacy - Basic Vocabulary

  •   0%
  •  0     0     0

      Back   Restart
  • What does "current balance" mean?
    total amount of money in a bank account
  • What does "deposit" mean?
    Money put into your bank account.
  • What does "balance forward" mean?
    The total amount of money in your bank account.
  • What does "direct payment purchase" mean?
    A purchase you pay for with your card (debit or credit).
  • What does "debit" mean?
    The amount of money in your taken out of your account.
  • What does "service charge" mean?
    Fees you pay for the bank services.
  • What does "payroll deposit" mean?
    Money put into your bank account by your employer.
  • What does "transaction" mean?
    Activity in a bank account (withdrawals and deposits)
  • What does "online banking" mean?
    Using a computer or mobile device to make banking transactions and read statements.
  • What does "bill payment" mean?
    The amount used to pay a bill.
  • What does "Automated Teller" mean?
    A bank machine or ATM.
  • What does "credit" mean?
    Money added to the bank balance.
  • What does "withdrawal" mean?
    Money you take out of an account.
  • What does "pre-authorized debit" mean?
    A pre-authorized debit that you agreed to.
    • Your experience on this site will be improved by allowing cookies.