20 terms

Banking Vocabulary

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Terms in this set (...)

ATM (Automated teller machine)
A machine that allows you to make banking transactions without the need of a bank teller.
PIN (Personal identification number) A secret 4 digit number that only you know. Can be used at an ATM.
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Bank
A financial institution where people can deposit their money to keep it safe.
Teller Is a person that helps you behind the counter at the bank.
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Deposit
To put money into your account.
Withdrawal
To take money out of your account.
Savings Account
A bank account that allows you to save your money.
Checking Account
A bank account that allows you to deposit and withdrawal money by writing checks or by using a debit card.
Check A written form used to pay for purchases from your checking account. It must include date, amount, and your signature.
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Deposit Slip
A form you complete to put money into your account.
Check Register
A small notepad that allows you to keep track of your checks, deposit, and current balance.
Account Balance
The exact amount of money in your account.
Fees
Charges for services by a bank.
Debit Card
A special card issued by a bank that looks like and is treated like a credit card however, when used the amounts of the purchase is subtracted from your checking account.
Online Banking
A service that allows you to handle banking activities (writing checks, transferring funds, auto deposits) by computer, using the internet.`
Budget A monthly or yearly spending and saving plan developed by you.
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Income
Amount of money received during a period of time.
Endorse
To sign the back of a check that is written to you.
1. Bank statement
Is a monthly report from a bank that shows deposits recorded, checks cleared, other debits and credits and a running bank balance
. Cashier Check
A bank's own check drawn on itself and signed by the bank cashier or other authorized official.

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