Banking Vocabulary Flashcard

Front

What does ATM stand for?

Back

Automatic Teller Machine

Front

What is a bank charge?

Back

A fee paid to the bank for services

Front

What is a bank statement?

Back

A record of your bank balance.

Front

What does it mean if a check bounces?

Back

You do not have enough money in the bank for this tranaction and you will be charged a fee.

Front

What is a checking account?

Back

An account for spending on your needs and wants.

Front

What is a debit card used for?

Back

To pay for things directly from your bank account.

Front

'overdrawn'

Back

Spending more money than you have

Front

What is a savings account?

Back

An account that earns interest on deposits and is for long term money goals

Front

What is interest?

Back

Money you pay if you borrow money from a bank.

Front

What is online banking?

Back

Banking done over the internet