Banking Vocabulary

Front

An account used for every day financial transactions or quick access to cash. Enables check-writing, use of debit card, and access to ATMs.

Back

Checking account

Front

The act of putting money (cash or check) into a bank.

Back

Deposit

Front

Financial institutions that hold deposits, loans money, and supports other financial functions.

Back

Bank

Front

The act of taking out money from a bank.

Back

Withdrawal

Front

A deposit bank account that lets you securely store funds while also earning interest. You can deposit your money at your bank through cash, check or bank transfer, and it will safely earn interest while it is in your account.

Back

Savings Account

Front

A payment card that deducts money directly from your checking account to pay for a purchase.

Back

Debit Card

Front

A payment card that allows you to borrow funds to pay for a purchase. You must pay back the borrowed money, plus any applicable interest, either in full by the billing date or over time.

Back

Credit Card

Front

A book of blank checks with a register for recording checks written.

Back

Checkbook

Front

(Automated Teller Machine) A machine that dispenses cash or performs other banking services when an account holder inserts a bank card.

Back

ATM

Front

(Personal Identification Number) A security code for verifying your identity. Similar to a password, your PIN should be kept secret because it allows access to important services such as ATMs and transactions.

Back

PIN