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WorksheetsChecks and Balances Vocabulary
Total questions: 13
Worksheet time: 7mins
What is a withdrawal?
Expenses that do not change from month to month
money set aside for the future
an act of taking money out of an account
money received, usually from a job, business, or assets
What is a deposit?
a sum of money placed or kept in a bank account
the money paid for employee services
Used to make purchases with funds directly from a checking account
The amount paid to a worker for the service he or she provides which may vary
What is an overdraft protection/fee?
to put money into an account
A bank service that covers checks even if you have insufficient funds in your checking account
money provided by the federal government for students to use to fund their education
fees charged by a bank for services, such as ATM withdrawal and checking account maintenance
What does insufficient funds mean?
You have a new deposit
Your bank will cover it, but you will owe them a fee
You have free money added to your account
You do not have enough money in your bank account to cover a transaction
What is a balance?
The difference between your savings and checking account
the amount of money held in a bank account at a given moment
It's like a deposit
Money taken out of a bank account
Checking Account
An account that gains interest in which you can access with a credit card
organizations that supply information about consumers' credit history
fees charged by a bank for services, such as ATM withdrawal and checking account maintenance
Account where money can be withdrawn with checks or a debit card
What is a check?
It is how you see how much money you have in your account.
An online only option to pay bills
An order to pay another person an amount of money from your account
It looks like a v but is longer on one end
What is a Savings Account?
An account you can freely withdraw from whenever you want.
An interest-bearing account where people put money for future use
An account you can't take your money out for a year or more
An account you can use your debit card to make purchases
How is a check register used?
to record deposits to and withdrawals from a checking account
Helps me see my credit card balance
It gives you interest when you save your money
A fee charged by your bank.
What is a banking transaction
Any act with a bank, including deposits, withdrawals, debit card usage, or check writing
When the bank charges you high fees when you overdraft
When does a debit occure?
When the bank charges you a fee
When you use your debit card at the store
Anytime you withdraw money from your account
When you deposit money
What is a debit card purchase?
When you use your debit card at a store and the money comes out of your checking account.
When you use your debit card and money is debited from your credit account.
When you swipe your debit card and money is taken from your savings account.
When you do not have enough money.
What is a credit card?
It debits money from your checking account
a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit
A card that debits money from your savings account.
Something you should never get, because they ruin your credit.
