Banking Vocabulary

Front

A bank is...

Back

a business that keep money for customers and makes loans.

Front

A sum of money borrowed for a certain amount of time is called a....

Back

loan

Front

Putting money into the bank is called a...

Back

deposit

Front

When you take out a loan, ________ is added on to your total expense. The longer you have your loan, the more of this you will have to pay.

Back

Interest

Front

When the bank pays a transaction for you because you don't have enough money in your account it's called an........

Back

overdraft

Front

What are the two types of accounts available at banks and credit unions? Options: Checking and Savings, Checking and Loans, Savings and Loans, Debit and Credit

Back

Checking and Savings

Front

Account that lets you save money

Back

savings account

Front

Money the bank pays you to keep your money in their bank.

Back

interest

Front

Card that you use to pay for items and the money comes out of your checking account.

Back

debit card

Front

What is one advantage of having a credit card?

Back

It allows you to make purchases without carrying lots of cash.