Terms in this set (23)
to put money into your account
the price paid for the use of borrowed money
Insurance on deposits in banks that cover $250,000 per depositor, per insured bank, for each account ownership category.
percentage you are paid for your money
A card allowing the holder to make purchases with money in their bank account.
A plastic card used to make purchases now and pay for them later.
Money kept in the bank that is readily accessible for ordinary expenses
a bank account that accumulates interest, may have limits to number of withdrawals you can make monlty
Money Market Account
Savings tool requiring larger deposit and earning more interest
Certificate of Deposit
Deposit must remain for a fixed amount of time (term), earns more interest than a savings accounts, BUT you'll have a PENALTY to the bank for an early withdrawal.
A fixed amount of time money for deposits
When a parent or guardian also signs and guarantees the account
Take money out
Personal Identification Number, like a password
A book you use to record bank account transactions
Fees banks or credit unions charge for services
The amount of money borrowed
Automated Teller Machine
A reminder note to yourself that reminds you what the check was for
A bank form listing the cash and checks to be deposited.
a paper that you fill out when you take money out of an account
Interest earned only on the original principal amount invested
interest earned on both the principal amount and any interest already earned
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