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Banking Vocabulary Words

Terms in this set (40)

Account
an arrangement made with a bank whereby one may deposit and withdraw money and in some cases be paid interest
Adjustment
a correction or change
Applicant
a person who seeks to get something
ATM
automatic teller machine; used to get money from the bank
Authorize
the right to do something
Automatic
done without asking or done by machine
Balance
how much money is remaining
Capital
money
Cash
- coins and bills
Certified
- money promised by a bank to pay for something
Charge
- something paid for by a fee
Check
- a paper that orders a bank to give money to someone as payment for an item
Checkbook
- blank checks contained in a book
Checking account
- bank account that uses checks instead of actual money
Condition
- something that must be followed
Credited
- money added to an account
Currency
- paper money
Deduct
- take away
Delinquent
- not in time
Deposit
- money put into an account
Endorse
- sign your name on the back of a check so it may be used
FDIC
Federal Deposit Insurance Corporation, FDIC was created in 1933 to maintain public confidence and encourage stability in the financial system through the promotion of sound banking practices
Fixed
- cannot be changed
Funds
- usable money
Insufficient funds
- not enough funds
Insured
- safe from loss of money
Investment
- money used to make more money
Issued
- given out
Joint
- owned by two or more people
Outstanding
- has not been paid
Overdraft
- an account that has less money than a check asks for
Penalty
- a fine paid for a wrong
Pending
- waiting to occur
PIN number
- a private code known by only you and your bank
Signature card
- your written name shown on a bank card
Statement
- a record of a bank account shown as a notice
Teller
- a bank worker who takes in and gives out money
Transfer
- move from one place to another
Vault
- strong, safe place to keep things
Withdrawal
- money that is taken out of a bank plan
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