Bank and Finance Vocabulary

What is the definition of Account?

• A sum of money placed or kept in a bank account, usually to gain interest.

• An expense that you can control or adjust, for example, how much you spend on groceries, clothes, or entertainment.

• A banking service allowing a customer’s money to be handled and tracked. Common bank accounts are savings and checking accounts.

• A written financial plan to manage income, expenses and savings.

What is the definition of ATM?

• An electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

• The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

• The act of taking money out of an account.

• The amount of money earned.

What is the definition of Available Balance?

• A written record of a person’s use of credit, including applying for credit, and using credit or loans to make purchases.

• Something that is owed or that one is bound to pay to or perform for another.

• A fixed cost is an expense that stays the same each month, such as rent or a car payment

• The amount of money in your account that you can use or withdraw.

What is the definition of Bad Credit?

• A banking service allowing a customer’s money to be handled and tracked. Common bank accounts are savings and checking accounts.

• A situation in which lenders believe that, due to a borrower’s poor history of repaying his or her debts, further loans to this person would be especially risky.

• Written financial plan to manage income, expenses and savings

• A bank account that allows a customer to deposit and withdraw money and earn interest on the balance.

What is the definition of Bank Statement?

• A monthly document sent to you by your bank that lists your account balance at the beginning and end of the month, and all of the checks you wrote that your bank has processed during the month.

• An expense that you can control or adjust, for example, how much you spend on groceries, clothes, or entertainment.

• A situation in which lenders believe that, due to a borrower’s poor history of repaying his or her debts, further loans to this person would be especially risky.

• Electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

What is the definition of Budget?

• The amount of money in your account that you can use or withdraw.

• A sum of money placed or kept in a bank account, usually to gain interest.

• Something that is owed or that one is bound to pay to or perform for another.

• Written financial plan to manage income, expenses and savings.

What is the definition of Credit?

• A bank account that allows a customer to deposit and withdraw money and earn interest on the balance.

• The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.

• Electronic payment form the employer’s bank account to the employee’s bank account.

• An expense that you can control or adjust, for example, how much you spend on groceries, clothes, or entertainment.

What is the definition of Credit History?

• A sum of money placed or kept in a bank account, usually to gain interest.

• Electronic banking outlet that allows customers to complete basic transactions without the aid of a branch representative or teller.

• A written record of a person’s use of credit, including applying for credit, and using credit or loans to make purchases.

• A fixed cost is an expense that stays the same each month, such as rent or a car payment

What is the definition of Credit Limit?

• Maximum amount of credit a financial institution extends to a client.

• For individuals, an expense is a cost of living; for example, rent or groceries.

• Money earned.

• A sum of money placed or kept in a bank account, usually to gain interest.

What is the definition of Debt?

• Written financial plan to manage income, expenses and savings.

• The amount of money in your account that you can use or withdraw.

• An act of taking money out of an account.

• something that is owed or that one is bound to pay to or perform for another.