Banking Vocabulary

A bank account that allows a customer to deposit and withdraw money and write checks.

Are your medical bills an example of a fixed or variable expense?

When there is not enough money in an account to cover a transaction and the bank pays it on your behalf,creating a negative balance in the account that you need

How much money is currently in your account

Expenses that change in amount from month to month.

A set of numbers assigned to an account when a person opens a bank account (usually 10 numbers).

To put money into your account

4 digit code a person creates when they get a debit card. The PIN number is used to withdraw money from an ATM or make purchases.

You purchase the newest iPhone. Are you making a deposit or withdrawal?

Is your rent a fixed or variable expense?

To take money out of your account by: going to the bank and use a withdrawal slip, ATM, writing a check, making a purchase and use your ATM card

To sign the back of a check, authorizing the check to be exchanged for cash or credit.

A card linked to a checking account that can be used to withdraw money and make deposits at an ATM and to make purchases at merchants.

The costs you can plan for and are likely already factored into your regular budget. These costs can occur at any interval, but they're typically monthly or yearly payments.

A financial institution that handles money, including keeping it for saving or commercial purposes, and exchanging, investing, and supplying it for loans.

a nine-digit number used to identify a bank or financial institution when clearing funds for electronic transfers or processing checks

A written piece of paper instructing the bank to pay a specific amount of money to a specific person or entity.

A monthly accounting document sent to you by your bank that lists your account balance at the beginning and end of the month, and all of the checks you wrote th

A fee charged for the violation of a rule in a financial agreement.