Banking Vocabulary Practice

Match

Match the following

• A bank account against which the depositor can withdraw checks; mainly used to pay bills & expenses, usually no interest gained.

• A bank account held at a bank or other financial institution that receives interest.

• A bank account held by more than one person; a shared account.

• The act of taking money out of an account.

• The act of placing money into an account.

Checking Account

Savings Account

Joint Account

Withdrawal

Deposit

• Checking Account

• Savings Account

• Joint Account

• Withdrawal

• Deposit

Fill in the Blanks

What is the fee paid for the use of someone else's money (earned money by keeping money in a savings account)?

Match

Match the following

• Bank Fees

• Bounced Check

• Account Statement

• Bank Transfer

• Automatic Payment

Fees (money) paid to the bank for account set up, maintenance, and transactional services.

A check that the bank is unable to process due to insufficient funds (not enough money)

A fincancial statemnt that records a person's deposits and withdrawals.

The act of moving money between two banks or two bank accounts.

Process that authorizes regular withdrawals to be made from a checking account to pay bills.

• Fees (money) paid to the bank for account set up, maintenance, and transactional services.

• A check that the bank is unable to process due to insufficient funds (not enough money)

• A fincancial statemnt that records a person's deposits and withdrawals.

• The act of moving money between two banks or two bank accounts.

• Process that authorizes regular withdrawals to be made from a checking account to pay bills.

Open Ended

What do you call an arrangement that protects someone who writes a check for an amount that exceeds (goes over) the balance?

Fill in the Blanks

A stop payment is a request by the check writer to the bank to

a check.

Multiple Choice

Which of the following describes direct deposit?

• The total amount of funds in all of your linked bank accounts.

• Request by check writer to bank to cancel a check.

• Teh electronic transfer of payment directly from teh account of the payer to hte account of the recipient.

• Process that authorizes regular withdrawals to be made from a checking account to pay a credit card & other bills.

Open Ended

What is a combined balance?