Financial Literacy Vocabulary

 a place to safely store money at a bank and write a check from

• savings account

• credit card

• checking account

a place to safely store money at a bank. This account is used for saving money for things like emergencies.

• checking account

• savings account

Money that you place in a bank account

• Withdrawal

• Deposit

• Transfer

Process of taking money out of a bank account (spending or paying bills are an example)

• Transfer

• Deposit

• Withdrawal

The process of moving money from one account to another

• Withdrawal

• Deposit

• Transfer

A card with a fixed amount of money borrowed that must be paid back with interest

• Debit Card

• Credit Card

A card used to take money directly from your checking account.

• Debit Card

• Credit Card

a machine that allows a person to withdraw cash from their bank

• Computer

• ATM

• Store

This occurs when more money is spent than is in your account. Many times the bank will charge a fee.

• Transfer

• Deposit

• Overdraft

Money deposited directly into your bank account from a job or place of business. This occurs instead of getting a paper paycheck.

• Direct Deposit

• Direct Debit

• Credit