Banking Vocabulary Review

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

To put money into your account.

Explain how to use a debit card.

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 to repay.

A specialized CARD used by bank customers to manage their money, for example, to get cash, make deposits, or transfer money between accounts.

A printed record of the balance in a book account and the amounts that have been paid into it and withdrawn from it.

A fee charged for the violation of a rule in a financial agreement. This happens if you take out more money than you have or you don't make a payment on time.

Give 2 different ways a person can make a purchase at a store.

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

Explain the importance of budgeting and saving money.

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

This is the four digit number/code you enter to get your money when using your debit/ATM card.

These are the set of numbers at the bottom of the check that show your personal account information.

If you lived on your own, what would be 2-3 expenses you'd be responsible for?

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

The current amount of money in your bank account.

To take money out of an account.