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Basic Banking Terms

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  • You keep important papers or small valuable items in this locked box at a bank. What is it?
    Safety deposit box
  • I took $100 out of my account at an ATM. I made a ______.
    Withdrawal
  • You can use a debit card to pay for something if you have enough money in your account.
    Yes
  • A withdrawal puts more money into your account.
    No. A withdrawal takes money out of your account.
  • This is the money you may earn on savings. You may also pay it on a loan.
    Interest
  • Your money goes in and out of this at the bank. What is it?
    Account
  • A savings account is usually used for everyday purchases and bill payments.
    No. A chequing account is usually used for those payments.
  • I work at a bank counter. I help people with their money. Who am I?
    Teller
  • To deposit money means to take money out of your account.
    No. To deposit money means to put money into your account.
  • Interest is always money the bank pays you.
    No. You may earn interest on savings or pay interest when you borrow money.
  • This card pays with money from your bank account. What is it?
    Debit card
  • A service charge is money the bank pays you for using its services.
    No. It is money you pay the bank for a service.
  • A vault is a locked room where a bank keeps money and other valuable items.
    Yes
  • This account is used to keep money for later. It may earn interest.
    Savings account
  • A debit card takes money from your bank account when you buy something.
    Yes.
  • I put $50 into my bank account. What did I do?
    Deposit money
  • A chequing account can be used for everyday payments.
    Yes
  • A bank client is a person who works at the bank counter.
    No. A client uses the bank’s services. A teller works at the counter.
  • Two people share this account. What kind of account is it?
    Joint account
  • A bank account is only a card you carry in your wallet.
    No. An account holds and records your money. A bank card lets you access it.
  • You use this account for everyday payments. What is it?
    Chequing account
  • A joint account belongs to only one person.
    No. Two or more people share it.
  • A safety deposit box is an account used to save money.
    No. It is a locked box for important papers or valuable items.
  • I use the bank’s services. I am a bank ______.
    Client
  • This bank fee pays for a service. What is it called?
    Service charge
  • This locked bank room may contain money and safety deposit boxes.
    Vault
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