Banking Terms for Grade 8

Front

Any activity involving the movement of money, such as deposits, withdrawals, or transfers.

Back

Transaction

Front

The act of depositing money into a bank account.

Back

Lodgement

Front

A financial institution that provides services such as savings, loans, and money transfers.

Back

Commercial Bank

Front

A written instruction that tells a bank to pay a specific amount of money from an account to someone.

Back

Cheque

Front

A short-written record or note used to communicate important information in banking and business.

Back

Memorandum