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Study sets matching "banking personal finance"

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Study sets matching "banking personal finance"

16 terms
Personal Finance--Banking
Checking account
savings account
deposit
withdrawal
a bank account where the consumer writes checks or uses a deb…
a bank account used to save money; usually earns interest
put into a bank account
to take money out of an account
Checking account
a bank account where the consumer writes checks or uses a deb…
savings account
a bank account used to save money; usually earns interest
30 terms
Banking Personal Finance
deposit (v.)
withdraw (v.)
transaction (n.)
credit (n.)
Put money into an account
Remove money from an account.
a business interaction
An arrangement to receive cash, goods, or services now and pa…
deposit (v.)
Put money into an account
withdraw (v.)
Remove money from an account.
15 terms
Personal Finance--Banking
Deposit Slip
Outstanding check
Reconciliation
NSF check
What do you use when you add money to your checking account
A check that the bank has not processed or paid yet
Making sure that your check registerand the bank statement ag…
A check that is not paid when presented because a depositor's…
Deposit Slip
What do you use when you add money to your checking account
Outstanding check
A check that the bank has not processed or paid yet
36 terms
Personal Finance Banking Vocabulary
account
assets
ATM
balance
money deposited with a financial institution for investment a…
items of monetary value(house, land, car), owned by an indivi…
Acronym for automated teller machine
an outstanding amount of money. In banking, balance refers to…
account
money deposited with a financial institution for investment a…
assets
items of monetary value(house, land, car), owned by an indivi…
30 terms
Personal Finance: Banking
Direct Deposit
Automated Teller Machine [ATM]
Point of Sale Transaction
Commercial Bank
An automatic deposit of net pay to an employee's designated b…
A computer terminal that allows a withdrawal of cash from an…
A purchase by a debit card of a good or service at a retail s…
A for-profit institution that offers a full range of financia…
Direct Deposit
An automatic deposit of net pay to an employee's designated b…
Automated Teller Machine [ATM]
A computer terminal that allows a withdrawal of cash from an…
34 terms
Personal Finance - Banking
Commercial Bank
Credit Unions
Deposit
Withdrawal
most common financial institution; privataly owned; runs to m…
Non-profit financial institutions; owned by the members; orga…
any addition of funds to your account balance
any time you take cash out of your bank account
Commercial Bank
most common financial institution; privataly owned; runs to m…
Credit Unions
Non-profit financial institutions; owned by the members; orga…
58 terms
Finance and Banking - Personal Finance
Bank teller
Banking
Bank manager = Banker (A)
Bank governor
Giao dịch viên ngân hàng
Nghiệp vụ ngân hàng
Giám đốc ngân hàng
Thống đốc ngân hàng
Bank teller
Giao dịch viên ngân hàng
Banking
Nghiệp vụ ngân hàng
44 terms
PERSONAL FINANCE 3 (PERSONAL BANKING U 19)
current account
savings account
deposit account
monthly statements
běžný účet (Am: checking account)
spořící účet
vkladový účet
měsíční výpisy
current account
běžný účet (Am: checking account)
savings account
spořící účet
12 terms
Personal Finance Banking
checking account
savings account
bank statement
debit card
Offers easy access to your money for your daily transactional…
allows you to accumulate interest on funds you've saved for f…
List of activity from your bank account, you receive this fro…
A card that is connected to your checking account. When used…
checking account
Offers easy access to your money for your daily transactional…
savings account
allows you to accumulate interest on funds you've saved for f…
35 terms
Personal Finance-Banking Industry
Purchasing Power
FDIC
Barter
Currency
The amount of goods or services that your money can buy.
A federal government agency that insures deposits in banks.
Trading goods and services without the use of money.
Paper money and coins used for financial transactions.
Purchasing Power
The amount of goods or services that your money can buy.
FDIC
A federal government agency that insures deposits in banks.
16 terms
Personal Finance--Banking
Checking account
savings account
deposit
withdrawal
a bank account where the consumer writes checks or uses a deb…
a bank account used to save money; usually earns interest
put into a bank account
to take money out of an account
Checking account
a bank account where the consumer writes checks or uses a deb…
savings account
a bank account used to save money; usually earns interest
40 terms
Personal Finance - Unit 4 - Banking and Money
loan
financial institution
interest rates
principal
an amount of money that is given to someone for a period of t…
a bank, trust company, insurance company, credit union, build…
The amount you pay to borrow money for car or house, but rate…
the original amount borrowed
loan
an amount of money that is given to someone for a period of t…
financial institution
a bank, trust company, insurance company, credit union, build…
28 terms
Personal Finance- Banking Unit
Canceled Check
Floating a Check
Post-dating
Online bill paying
a check that bears the bank's stamp indicating that it has cl…
writing a check even when you realize the account has insuffi…
Writing a future date on the check so the check does not over…
Give ability to access your accounts from a computer or telep…
Canceled Check
a check that bears the bank's stamp indicating that it has cl…
Floating a Check
writing a check even when you realize the account has insuffi…
36 terms
Personal Finance Banking Terms
Check Book Register
Debit Card
Share Account
EFT
An informal record of all deposits to and withdrawals from a…
A payment card that deducts money directly from a consumer's…
A savings account in a credit union.
(Electronic Funds Transfer) The electronic transfer of money…
Check Book Register
An informal record of all deposits to and withdrawals from a…
Debit Card
A payment card that deducts money directly from a consumer's…
Personal Finance Banking Vocab
Direct Deposit
ATM
Debit Card
Commercial Bank
an automatic deposit of net pay to an employee's designated b…
a computer terminal that allows a withdrawal of cash from an…
a cash card that allows you to withdraw money or pay for purc…
a for-profit institution that offers a full range of financia…
Direct Deposit
an automatic deposit of net pay to an employee's designated b…
ATM
a computer terminal that allows a withdrawal of cash from an…
36 terms
Personal finance banking procedures
Automatic deposit
Automatic withdrawal
Bounced check
Cashiers check
Money electronically added to your checking or other account
Money electronically deducted from your checking or other acc…
A check returned by the bank for non-sufficient funds
A check issued by a bank against bank funds
Automatic deposit
Money electronically added to your checking or other account
Automatic withdrawal
Money electronically deducted from your checking or other acc…
35 terms
Personal Finance: Banking
Blank Endorsement
Restrictive Endorsement
Special Endorsement
Savings Bonds
Anyone can cash or deposit the check after it has been signed…
More secure than a blank endorsement because the receiver wri…
The check can be transferred to the second party if the recei…
Purchase at one and a half the face value and when they matur…
Blank Endorsement
Anyone can cash or deposit the check after it has been signed…
Restrictive Endorsement
More secure than a blank endorsement because the receiver wri…
9 terms
Personal Finance (11): Banking
Credit Unions
Banks
FDIC
Saving
Members only; smaller and local; insured by NCUA; not for pro…
More accessible; insured by FCIU; for profit
Agency that protects money in case of disaster
Trading spending money now for the ability to spend money in…
Credit Unions
Members only; smaller and local; insured by NCUA; not for pro…
Banks
More accessible; insured by FCIU; for profit
14 terms
Personal Finance Banking
Savings Account
Checking Account
Direct Deposit
Interest
Pile up woth money, that you try not to touch. You can gain i…
Pile up money. Use a debt card and checks. Remember to keep t…
Check goes right into your account
Money added to our money by the bank
Savings Account
Pile up woth money, that you try not to touch. You can gain i…
Checking Account
Pile up money. Use a debt card and checks. Remember to keep t…
33 terms
Personal Finance Banking
Commercial Banks
Mutual Savings banks:
Savings and Loan Associations (S&L)
Credit Unions:
For profit institution that offers checking, savings and lend…
operate same way as commercial banks; but they specialize in…
Historically specialized in savings and mortgages but now off…
Nonprofit financial institution that is owned by its members…
Commercial Banks
For profit institution that offers checking, savings and lend…
Mutual Savings banks:
operate same way as commercial banks; but they specialize in…
15 terms
Personal Finance - Banking
DEB
DEP
TRN
WD
debit
deposit
transaction
Withdrawl
DEB
debit
DEP
deposit
26 terms
Personal Finance Banking Test
Annual Percentage Rate
Annual Percentage Yield
ATM (Automatic Teller Machine)
Automatic Payment
the finance charge calculated as a percentage of the amount b…
the actual interest rate an account pays per year
computer terminals that let you withdraw cash, make deposits,…
bank automatically withdrawals amount of payment from your ac…
Annual Percentage Rate
the finance charge calculated as a percentage of the amount b…
Annual Percentage Yield
the actual interest rate an account pays per year
56 terms
Personal finance-Banking
ABA number/ check routing number
ATM card
Automatic bill payment services
Account Balance
is a nine digit bank code which appears on the bottom of chec…
A card used in an automated teller machine (ATM) to access a…
a service by which a bank deducts a payment from your account…
Amount in account. Difference between total debits and total…
ABA number/ check routing number
is a nine digit bank code which appears on the bottom of chec…
ATM card
A card used in an automated teller machine (ATM) to access a…
20 terms
money and banking personal finance
money
medium of exchange
barter
unit of account
anything that serves as a medium of exchange, a unit of accou…
anything that is used to determine value during the exchange…
the direct exchange of set goods or services for another.
a means for comparing the values of goods and services.
money
anything that serves as a medium of exchange, a unit of accou…
medium of exchange
anything that is used to determine value during the exchange…
14 terms
Personal finance banking
The person who is receiving the money…
The person who is writing the check ($…
Why would you write a check? (3 reasons)
T or F: many banks failed during the G…
Payee
Drawer
Safety, convenience, and record keeping
True
The person who is receiving the money…
Payee
The person who is writing the check ($…
Drawer
26 terms
Personal Finance Savings and Banking
Commercial Banks
Retail Banks
credit unions
savings and loan institutions
Deal primarily with deposits and loans from corporations or l…
deals directly with individual costumers and small businesses
a cooperative bank, meaning it is privately owned and control…
banks that specialize in accepting savings deposits and makin…
Commercial Banks
Deal primarily with deposits and loans from corporations or l…
Retail Banks
deals directly with individual costumers and small businesses
56 terms
Personal Finance Banking Test
*What are the types of financial servi…
What are examples of time deposits?
What are examples of demand deposits?
*Types of financial institutions?
Time Deposits—must invest for a longer period of time; earn a…
Savings... CDs—saving for a number of years... Savings Bonds—saving…
Checking accounts... Money Markets Accounts... Can withdraw limite…
Deposit Institutions... Non-Deposit Institutions
*What are the types of financial servi…
Time Deposits—must invest for a longer period of time; earn a…
What are examples of time deposits?
Savings... CDs—saving for a number of years... Savings Bonds—saving…
16 terms
Personal Finance Chp 3--Banking
checking account
savings account
deposit
overdraft
a bank account where the consumer writes checks or uses a deb…
a bank account used to save money; usually earns interest
put into a bank account
a payment request that is refused
checking account
a bank account where the consumer writes checks or uses a deb…
savings account
a bank account used to save money; usually earns interest
8 terms
Personal Finance Banking and Budgeting
Matching your bank statement with your…
Your own record of all your transactio…
Your monthly budget should include:
The zero-based budget is the best meth…
Reconciling
Check Register
Variable expenses, discretionary expenses, and fixed expenses.
It ensures that every dollar you make is assigned a specific…
Matching your bank statement with your…
Reconciling
Your own record of all your transactio…
Check Register
21 terms
Personal Finance Banking
Withdrawal
Deposit
Debit Card
Debits
Taking money out from your account
adding money to your bank account
card used to withdraw or deduct money from your checking acco…
decrease of cash in your account
Withdrawal
Taking money out from your account
Deposit
adding money to your bank account
19 terms
personal finance banking related
balanced checkbook
overdrafts
duplicate checks
debit card
you verify your balance with the bank
spend more money than you have in the bank
checks that have a second copy
takes money out right away
balanced checkbook
you verify your balance with the bank
overdrafts
spend more money than you have in the bank
34 terms
Personal Finance Banking Terms
Check Book Register
Debit Card
Share Account
EFT
An informal record of all deposits to and withdrawals from a…
A payment card that deducts money directly from a consumer's…
A savings account in a credit union.
(Electronic Funds Transfer) The electronic transfer of money…
Check Book Register
An informal record of all deposits to and withdrawals from a…
Debit Card
A payment card that deducts money directly from a consumer's…
34 terms
Personal Finance Banking Terms
Check Book Register
Debit Card
Share Account
EFT
An informal record of all deposits to and withdrawals from a…
A payment card that deducts money directly from a consumer's…
A savings account in a credit union.
(Electronic Funds Transfer) The electronic transfer of money…
Check Book Register
An informal record of all deposits to and withdrawals from a…
Debit Card
A payment card that deducts money directly from a consumer's…
30 terms
Personal Finance: Banking
Direct Deposit
Automated Teller Machine [ATM]
Point of Sale Transaction
Commercial Bank
An automatic deposit of net pay to an employee's designated b…
A computer terminal that allows a withdrawal of cash from an…
A purchase by a debit card of a good or service at a retail s…
A for-profit institution that offers a full range of financia…
Direct Deposit
An automatic deposit of net pay to an employee's designated b…
Automated Teller Machine [ATM]
A computer terminal that allows a withdrawal of cash from an…
11 terms
personal finance banking services
pawn shops
rent - to - own
check cashing
rapid refund tax
charge very high intern for loans based on the value of tangi…
offer an opportunity to obtain home entertainment systems or…
charge high fees just to have a paycheck or government check…
provide instant refunds when you pay to have your federal tax…
pawn shops
charge very high intern for loans based on the value of tangi…
rent - to - own
offer an opportunity to obtain home entertainment systems or…
25 terms
Banking&Personal Finance
Benefits
Fees
Savings account
ATM
Convenience, saftey, easier budgeting, proof of payment.
Monthly service fees, ATM, third party ATM fees, returned che…
Monthly service fees, withdrawal fees, balance fees, checks a…
Automatic teller machine
Benefits
Convenience, saftey, easier budgeting, proof of payment.
Fees
Monthly service fees, ATM, third party ATM fees, returned che…
46 terms
Personal finance banking review
Federal reserve bank
Reserves
Clearing
Commercial banks
Supervises and regulates member banks and helps banks serve t…
Fed holds a proportion of deposits from all banks in case the…
Refers to the paying of checks among different banks in diffe…
Aka "full service"; they offer savings and checking a account…
Federal reserve bank
Supervises and regulates member banks and helps banks serve t…
Reserves
Fed holds a proportion of deposits from all banks in case the…
11 terms
Banking & Personal Finance
Coupon Rate
Commodity Money
Default
Diversification
Interest rate the bond issuer will pay the bondholder
Consists of objects that have value in and of themselves and…
Failure to pay back a loan
The strategy of spreading out investments to reduce risks
Coupon Rate
Interest rate the bond issuer will pay the bondholder
Commodity Money
Consists of objects that have value in and of themselves and…
18 terms
Personal Finance (Banking)
Payday Lenders
Investment Companies
Floating a Check
Money Order
Short term loan usually characterized by high interest rates
financial intermediaries that invest the funds of individual…
writing a check and planning to make a deposit later to cover…
A form of check payment on which the financial institution pr…
Payday Lenders
Short term loan usually characterized by high interest rates
Investment Companies
financial intermediaries that invest the funds of individual…
26 terms
Personal Finance Banking
checking account
check
withdrawal
deposit
a demand deposit account on which checks are drawn
written order to a bank to pay a person or business
involves taking money from your account
putting money into your account
checking account
a demand deposit account on which checks are drawn
check
written order to a bank to pay a person or business
22 terms
Personal Finance Banking Unit
checking account
savings account
a check
canceled check
an account offered by a bank that allows you to write checks…
an account offered by a bank that offers interest on the bala…
a written order to a bank to pay the stated amount to the per…
your check the bank had paid it may or may not be returned to…
checking account
an account offered by a bank that allows you to write checks…
savings account
an account offered by a bank that offers interest on the bala…
17 terms
Personal Finance Banking Vocab
direct deposit
ATM(automated teller machine)
debit card
point-of-sale transaction
the electronic transfer of a payment directly from the accoun…
is an electronic telecommunications device that enables the c…
more convenient way of spending money than carrying cash arou…
any location where a sale or transaction may take place
direct deposit
the electronic transfer of a payment directly from the accoun…
ATM(automated teller machine)
is an electronic telecommunications device that enables the c…
18 terms
Personal Finance Banking
Commercial Banks
Mutual Savings banks:
Savings and Loan Associations (S&L)
Credit Unions:
For profit institution that offers checking, savings and lend…
operate same way as commercial banks; but they specialize in…
Historically specialized in savings and mortgages but now off…
Nonprofit financial institution that is owned by its members…
Commercial Banks
For profit institution that offers checking, savings and lend…
Mutual Savings banks:
operate same way as commercial banks; but they specialize in…
32 terms
Personal Finance Banking Vocabulary
Certificate of Deposit
Cancelled Checks
Commercial Bank
Check Register
a financial product commonly offered to consumers that pays a…
check which the bank has paid and returned with your statement
a bank that lends money and provides transactions, savings, a…
a personal record of checks written and deposits made is kept…
Certificate of Deposit
a financial product commonly offered to consumers that pays a…
Cancelled Checks
check which the bank has paid and returned with your statement
20 terms
Personal Finance: Banking
Time Value of Money
Compound Intrest
Rule 72
Simple Intrest
The idea that money available at the present time is worth mo…
can be thought of as "interest on interest," and will make a…
in order to find the number of years required to double your…
A quick method of calculating the interest charge on a loan.…
Time Value of Money
The idea that money available at the present time is worth mo…
Compound Intrest
can be thought of as "interest on interest," and will make a…
33 terms
Personal Finance Banking
Commercial Banks
Mutual Savings banks:
Savings and Loan Associations (S&L)
Credit Unions:
For profit institution that offers checking, savings and lend…
operate in much the same way as commercial banks; however the…
Historically specialized in savings and mortgages but now off…
Nonprofit financial institution that is owned by its members…
Commercial Banks
For profit institution that offers checking, savings and lend…
Mutual Savings banks:
operate in much the same way as commercial banks; however the…
26 terms
personal finance banking
ACH (Automatic Clearing House)
ATM
Bank statement
Cash withdrawals
electronic system for transferring money between banks.
a computerized electronic machine that performs basic banking…
a printed monthly record of the balance in a bank account and…
the removal of cash from an account, either at the bank or at…
ACH (Automatic Clearing House)
electronic system for transferring money between banks.
ATM
a computerized electronic machine that performs basic banking…
28 terms
personal finance banking
the length of time you are required to…
A savings act which requires you to ke…
Type of card that allows you to purcha…
Checking account is an example of
term
Certificate of Deposit ... CD
Debit Card
Demand deposit
the length of time you are required to…
term
A savings act which requires you to ke…
Certificate of Deposit ... CD
22 terms
Personal finance - banking system
Annuity
Bounced check
Cashiers check
Certificate of deposit
A fixed amount set aside on a regular basis overtime
A check that is returned to the payees bank due to nonsuffici…
A check issued against the banks funds
A time deposit that pays a fixed rate of interest for a speci…
Annuity
A fixed amount set aside on a regular basis overtime
Bounced check
A check that is returned to the payees bank due to nonsuffici…
33 terms
personal finance banking
depository institution
commercial banks
credit unions
savings and loan association
businesses which offer multiple services in banking and finan…
for profit, largest depository institution, full service, and…
non profit, owned by members who share a common bond
focus on providing loans and mortgages, customers must have a…
depository institution
businesses which offer multiple services in banking and finan…
commercial banks
for profit, largest depository institution, full service, and…
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