Banzai Financial Teen Ed. Vocabulary

The physical form of money, such as coins or paper money. You can pay anyone in cash.

• cash

• checks

• debit card

• credit card

A bank account that allows quick access to money for everyday expenses.

• Savings

• Checking

• Stock

• Payday Loan

Andrew likes to pay for a steady supply of Dr. Dew and Choritos. What account should Andrew put his money in to pay for these everyday expenses?

• checking

• savings

• money orders

• loan

Savings Account Interest is NOT taxable.

• True

• False - It IS taxable.

You open a savings account at the bank. The bank pays you interest on the money that you deposit and leave in that account. What kind of interest is this?

• savings account interest

• credit card interest

• Late fee

• checking account interest

When you turn your money over to a financial institution for safekeeping you are making a _____________?

• cashed

• withdrawal

• check

• deposit

When your employer directly electronically transfers your net pay into your checking account, this is called a ....

• Direct Loan

• Direct Cash

• Direct Deposit

• Direct Check

If you have items like cash or checks that you would like to deposit into a checking or savings account, what will the bank require you to fill out?

• train depot

• depot grill

• direct deposit

• deposit slip

This slips lists the amounts of the cash and checks to be deposited separately and then the total is added at the end. You turn this slip with the cash and checks into your banker to complete the deposit of funds.

• Deposit Slips

• Deposit Cash

• Deposit Checks

• Deposit Withdrawals

A person is depositing $20 in cash and a check for $50. What is the total amount the person is depositing?

• $7.00

• $70.00

• $75.00

• $7.50