Banking Vocabulary

An account used for every day financial transactions or quick access to cash. Enables check-writing, use of debit card, and access to ATMs.

• Checking account

• Savings account

• Deposit

• Withdrawal

The act of putting money (cash or check) into a bank.

• Debit card

• Checkbook

• Withdrawal

• Deposit

Financial institutions that hold deposits, loans money, and supports other financial functions.

• ATM

• Bank

• Credit Card

• Savings account

The act of taking out money from a bank.

• Checking account

• Deposit

• Withdrawal

• Savings account

A deposit bank account that lets you securely store funds while also earning interest. You can deposit your money at your bank through cash, check or bank transfer, and it will safely earn interest while it is in your account.

• ATM

• Debit Card

• Checking Account

• Savings Account

A payment card that deducts money directly from your checking account to pay for a purchase.

• Debit Card

• Credit Card

• ATM

• Checkbook

A payment card that allows you to borrow funds to pay for a purchase. You must pay back the borrowed money, plus any applicable interest, either in full by the billing date or over time.

• Debit Card

• Credit Card

• ATM

• Checkbook

A book of blank checks with a register for recording checks written.

• Debit Card

• Credit Card

• Checkbook

• ATM

(Automated Teller Machine)

A machine that dispenses cash or performs other banking services when an account holder inserts a bank card.

• PIN

• Loan

• Debt

• ATM

(Personal Identification Number)

A security code for verifying your identity. Similar to a password, your PIN should be kept secret because it allows access to important services such as ATMs and transactions.

• PIN

• Loan

• Debt

• ATM