Banking Vocabulary Test

Money is deposited with a financial institution for investment purposes and/or safekeeping into what is known as a(n):

• Bond

• Check

• Account

• All of the above

What does ATM stand for?

• All Transactions Move

• Automated Teller Machine

• Any Transfer of Money

In banking, this refers to the amount of money in a particular account. In credit, it means the amount that is owed.

• Balance

• Capital

• Check Card

• Credit Card

A check that a bank has refused to pay (also known as honor) or cash because there are no funds to cover it in the account.

• Bounced check/NSF Check

• Checking Account

• Check Card

• Savings Account

A "used" check that has been paid and subtracted from the check writer's account.

• Charge Account

• Canceled Check

• Credit Union

• Checking Account

A plastic card that gives access to a line of credit, and is to be paid back in full every month.

• Check Card

• Charge/Credit Card

• Credit Union

• Check

The form used to instruct a bank to pay money from the writer's account.

• Balance

• Cash

• Check

An account in which the holder can write checks. This type of account pays less interest than savings accounts, or none at all.

• Savings Account

• Checking Account

• Credit Score

A check (_________) when its amount is debited (subtracted) from the payer's account and credited (added) to the payee's account.

• Clears

• Deposit

• Charge

In business, buying or borrowing on the promise to repay at a later date is know as:

• Credit

• Deposit

• Check