Banking Vocabulary

A bank is...

• a business that keep money for customers and makes loans.

• a company that uses your money for bartering.

• an organization that holds money and other valuable assets.

• a business that borrows money from you.

A sum of money borrowed for a certain amount of time is called a....

• loan

• down payment

• interest

• borrow

Putting money into the bank is called a...

• deposit

• loan

• interest

• withdrawal

When you take out a loan, ________ is added on to your total expense. The longer you have your loan, the more of this you will have to pay.

• Interest

• Inflation

• Balance

• Loan addend

When the bank pays a transaction for you because you don't have enough money in your account it's called an........

• withdrawal

• overdraft

• bank

• income

My ________________ is money that I earned from doing work.

• Salary

• Fee

• Income

• Overdraft

What are the two types of accounts available at banks and credit unions?

• Checking and Savings
• Checking and Loans
• Savings and Loans
• Debit and Credit

Account that lets you save money

• minimum balance

• checking account

• interest

• savings account

Money the bank pays you to keep your money in their bank.

• minimum balance

• checking account

• interest

• savings account

Card that you use to pay for items and the money comes out of your checking account.

• endorse

• overdrawn

• debit card

• statement