Vocab Chapters 3 & 4

The amount of money you have in an account.

• Direct Deposit

• Balance

• Interest

• Compound Interest

When interest is added to the balance to give a new balance.

• Compound Interest

• CD

• Term

• Balance

Checks that have been written but haven’t been returned to the bank yet

• Bounced Check

• Outstanding Check

• Online Banking

• Annuity

A check that you wrote for which you don’t have enough money in your account to pay.

• Bounced Check

• Outstanding Check

• Balance

• Overdraft

A type of savings account where you have to deposit a certain amount and not withdraw any money for a certain length of time.

• CD

• Annuity

• Savings Account

• Direct Deposit

A machine which can give you cash after bank hours.

• ATM

• Debit Card

• Online Banking

• CD

When your employer sends your pay to your bank account.

• Service Charge

• Interest

• Balance

• Direct Deposit

This works like a check and can be used for purchases.

• ATM

• CD

• Debit Card

• Bounced Check

Making transactions using a computer.

• Annuity

• Service Charge

• Term

• Online banking

A series of regular deposits into or payments out of an account.

• CD

• Direct Deposit

• Annuity

• Debit Card