NGPF Banking 1 Vocab Flashcard Game

Front

What is an ATM?

Back

Automatic Teller Machine

Front

What does 'balance' refer to in banking?

Back

The amount of money you have in your bank account

Front

What is a bank statement?

Back

A monthly document showing all transactions related to your account

Front

What is a certificate of deposit?

Back

A bank product earning interest on an untouched lump-sum deposit

Front

What is a canceled check?

Back

A check that has been paid or cleared by the bank

Front

What is a check?

Back

A written, dated, and signed order to the bank to pay a definite sum of money to a payee

Front

What is a checkbook?

Back

A portfolio holding your check register, checks, deposit slips, receipts, and ATM/debit card transaction records

Front

What is a check cashing store?

Back

A business that cashes checks and gives cash in exchange for a fee

Front

What is a check register?

Back

A record that allows you to keep track of checks written, ATM/debit card transactions, and deposits/withdrawals

Front

What is compound interest?

Back

Interest earned on both the initial amount and the accumulated interest