Banking Vocabulary

Front

What is the act of taking out money from a bank called?

Back

Withdrawal

Front

What is the specific amount of money that a bank requires to open or maintain an account?

Back

Minimum balance

Front

What does it mean to sign the back of a check?

Back

Endorsement

Front

What is it called when money is automatically transferred into a checking account for earnings from a job?

Back

Deposit

Front

What is a check that has been paid or cleared by the bank called?

Back

Canceled Check

Front

What is the term for a bank's record of all transactions made by an account holder?

Back

Bank statement

Front

What is the process of adding money to a bank account called?

Back

Deposit

Front

What is a written order directing a bank to pay a specific amount of money from one account to another?

Back

Check

Front

What is the term for the interest rate that banks pay to depositors?

Back

Deposit interest rate

Front

What is the term for a fee charged by a bank for maintaining an account?

Back

Account maintenance fee