Financial Literacy Vocabulary

A computer terminal that allows the user to access basic bank services, such as making deposits and cash withdrawals from remote locations, twenty-four hours a day.

• ATM

• APR

• Overdraft

• Reconcile

Going through a process of making your bank statement balance AGREE (be consistent) with your checkbook register.

• Reconcile

• Overdraft

• APR

• Endorsement

The use of a digital device to conduct online financial related transactions.

• Electronic Banking

• Account Statement

• Debit Card

• Credit Card

The lowest or smallest amount of money that can be kept in your bank account without receiving a fee.

• Minimum Balance

• APR

• ATM

• Insufficient Funds

The process of signing the back of your check before it is deposited into your bank account. This can be done in one of four different ways: Blank, Special/Full, Corrective, and Restrictive.

• Endorsement

• Overdraft

• APR

• Transfer

APR on your bank account balance stands for...

• Annual Percentage Rate

• Automated Principle Reduction

• Arrival Percentage Route

• Annual Principle Reduction

An electronic transfer of a payment directly from the bank account of the payer to the recipient's account. An example of this might include having your paycheck automatically added to your checking.

• Direct Deposit

• Withdrawal

• Reconcile

• Transaction

The act of moving your money from your savings account to your checking account is called...

• Transfer

• Reconciliation

• Minimum Balance

• Endorsement

Money deducted from an account is known as a...

• Withdrawal

• Overdraft

• Insufficient Funds

• Reconcile

An exchange in which goods, services, or money are passed from one person or account to another.

• Transaction

• Overdraft

• APR (Annual Percentage Rate)

• ATM