Banking Vocab

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A deposit account held at a financial institution that allows withdrawals and deposits. Very liquid and can be accessed using checks, automated teller machines (ATMs), and electronic debits, among other methods. Allows for numerous withdrawals.

• Checking Account
• Deposit
• Withdrawal
• Credit Union
• Bank Statement

Money you put into your account

• Deposit
• Checking Account
• Withdrawal
• Credit Union
• Bank Statement

Taking money out of an account.

• Withdrawal
• Checking Account
• Deposit
• Credit Union
• Bank Statement

Nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.

• Credit Union
• Checking Account
• Deposit
• Withdrawal
• Bank Statement

A monthly document prepared by your financial institution which shows all of the transactions related to your account

• Bank Statement
• Checking Account
• Deposit
• Withdrawal
• Credit Union

Basic account type that lets you deposit money safely with a bank. It ensures safety and access to your money whenever you need. You can withdraw your funds, either digitally or in person, at any point in time. This account earns interest.

• Savings Account
• Checking Account
• Deposit
• Withdrawal
• Credit Union

A fee charged to your account when it lacks the funds to cover a withdrawal, but the bank allows the transaction to go through anyway

• Overdraft Fee
• Checking Account
• Deposit
• Withdrawal
• Credit Union

This machine allows a person to manage a bank account holder's funds through actions such as withdrawing or depositing money, viewing account balances, etc.

• ATM
• Checking Account
• Deposit
• Withdrawal
• Credit Union