Financial Literacy Vocabulary

Front

What is a deposit?

Back

A sum of money that is placed or kept in a bank account.

Front

What is a creditor?

Back

A person, bank, or company to whom money is due.

Front

What is the act of taking money out of an account called?

Back

Withdrawal.

Front

What is an ATM transaction?

Back

An electronic telecommunications device that enables customers to perform financial transactions, such as cash withdrawals, deposits, and funds transfers.

Front

What is a credit limit?

Back

The amount of money that a financial institution allows a client to borrow.

Front

What is a withdrawal?

Back

A sum of money taken out of a bank account.

Front

What is a bank balance?

Back

The amount of money available in a bank account at a given time.

Front

What is a debit card?

Back

A card that allows the holder to access funds in their bank account to make purchases.

Front

What is a savings account?

Back

A bank account that earns interest on the money deposited.

Front

What is interest?

Back

The cost of borrowing money or the earnings from saving money, usually expressed as a percentage.