Banking Vocab application

What is a for-profit financial institution that is federally licensed to receive deposits and issue loans?

• Credit Union

• Bank

• Checking Account

• Savings Account

What is a credit score a prediction of?

• Your income level

• Your spending habits

• Your credit behavior

• Your savings amount

What is a written, dated, and signed draft that directs a bank to pay a specific sum of money to a person or company?

• Check

• Debit Card

• Credit Card

• Deposit

What is the smallest amount of money that must be kept in a bank account to avoid fees or to keep the account open?

• Balance

• Deposit

• Minimum Balance

• Withdrawal

What is an account at a financial institution into which money is deposited and from which checks can be written for purchases or services?

• Savings Account

• Checking Account

• Credit Union

• Mobile Banking

What is the amount of money you have in your bank account at any given time called?

• Deposit

• Withdrawal

• Balance

• Transaction

What is a summary of all transactions in your bank account over a specific period, usually sent monthly by your bank?

• Account Statement

• Deposit

• Withdrawal

• Transfer

What is the money a bank pays you for keeping your money in a savings or from investments?

• Negative Interest

• Positive Interest

• Overdraft Fee

• Annual Fee

What is extra money you pay when borrowing calculated as a percentage?

• Positive Interest

• Negative Interest

• Annual Fee

• Overdraft Fee

What is an interest-bearing account used to hold money for short- or long-term goals or emergencies?

• Checking Account

• Savings Account

• Credit Union

• Mobile Banking