Banking Vocabulary Self-Assessment

A service that allows you to use your smartphone or tablet to manage your bank or credit union account without the aid of a person called a bank teller. Generally, you can deposit checks into your account using this service, but not cash.

• Debit card

• Savings account

• Online banking

• Mobile banking app

A service you set up with a bank, credit union, prepaid card account, or a business you owe money to that lets you pay bills online or through a mobile app.

• Check-cashing service

• Bill payment service
• Prepaid card

• Savings account

This savings tool that you can get from a bank or credit union has a fixed maturity date and a fixed interest rate.

• Certificate of Deposit (CD)
• Credit Card
• Checking Account
• Savings Account

This is when you send money from one person or place to another or between your own accounts.

• Bank deposit

• Money transfer

• Cash withdrawal

• Credit card payment

You can turn paychecks, government checks, or personal checks into cash, often for a fee, with this service.

• Bank deposit service
• Money transfer service
• Credit card service
• Check cashing service

This is when you borrow money to buy or build a home.

• Personal loan
• Mortgage
• Car loan
• Credit card

This account at a bank (at a credit union, this is sometimes called a share draft account) allows you to make deposits, pay bills, and make withdrawals.

• Retirement account
• Checking account
• Savings account
• Investment account

A service that allows you to use a secure website to manage your bank or credit union account without the aid of a person called a bank teller. Generally, you cannot deposit a check or cash using this service.

• In-person banking
• Mobile banking
• Online banking

This is a card on which you load money in advance to spend.

• Prepaid card
• Credit card
• Debit card

• Checking account

An open-ended loan in the form of a card that allows you to borrow money up to a certain limit and carry over an unpaid balance from month to month. There is no fixed time to repay the loan as long as you make the minimum payment due each month. You pay interest on any outstanding loan balance.

• Personal loan
• Credit card
• Cash advance
• Debit card