Banking Vocabulary Quiz

What does ATM stand for?

• Automatic Teller Machine
• Any Time Money
• All Time Machine

What is a bank charge?

• A fee for popcorn

• A fee paid to the bank for services
• A fee for opening a savings account

What is a bank statement?

• A record of your bank balance
• A document to apply for a loan
• A form to open a new account

What does it mean if a check bounces?

• It is lost
• You do not have enough money in the bank for this tranaction and you will be charged a fee.

• It is a special type of check

What is a checking account?

• An account for saving money
• An account for spending on your needs and wants.

• An account that earns high interest

What is a debit card used for?

• To pay for things directly from your bank account
• To earn interest
• To save money

What does 'overdrawn' mean?

• Spending more money than you have
• Depositing money
• Withdrawing cash

What is a savings account?

• An account for daily spending
• An account that earns interest on deposits and is for long term money goals

• An account for loans

What is interest?

• Money you earn from your job
• Money you pay if you borrow money from a bank.

• Money you save in a bank

What is online banking?

• Banking done in person
• Banking done over the internet