Banking Vocabulary

A ____________ is a deposit account held at a financial institution that allows deposits and withdrawals

• savings account

• checking account

• retirement account

• loan account

A ____________ is a bank account on which interest is paid, traditionally one for which a bankbook is used to record deposits, withdrawals, and interest payments.

• savings account

• checking account

• retirement account

• loan account

_______________ let you easily access the money in your checking account to pay for everyday expenses.

• Bank cards

• Credit cards

• Check cards

• Gift cards

An instance of buying or selling something; a business deal is called a(n) _________.

• purchase

• bill paying

• exchange

• transaction

A small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit is called a(n)

• debit card

• ATM card

• credit card

• bank card

If you use your credit card, and don't pay the full balance by the due date, the bank will charge you ____________.

• Interest and/or late fees

• call you to let you know

• deduct the amount from your checking account

• none of the above

Your _______ number for your ATM card should always be kept secret for security reasons.

• passcode

• PIN or personal identification number

• security code

• account

The ______________ is a person to whom money is paid or is to be paid, especially the person to whom a check is made payable.

• payer

• designee

• checker

• payee

An example of a(n) ____________is when you sign the back of check, telling the bank that you give your approval for the check to be cashed.

• endorsement

• agreement

• transaction

• acceptance

A _______________________is the process of matching the balances in a person's checking records for a cash account to the corresponding information on a bank statement.

• endorsement

• transaction balancing

• bank reconciliation

• check register