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Banking Vocabulary

Total questions: 18

Worksheet time: 9mins

Name
Class
Date
1.

An account used for every day financial transactions or quick access to cash. Enables check-writing, use of debit card, and access to ATMs.

a)

Checking account

b)

Savings account

c)

Deposit

d)

Withdrawal

2.

The act of putting money (cash or check) into a bank.

a)

Debit card

b)

Checkbook

c)

Withdrawal

d)

Deposit

3.

Financial institutions that hold deposits, loans money, and supports other financial functions.

a)

ATM

b)

Bank

c)

Credit Card

d)

Savings account

4.

The act of taking out money from a bank.

a)

Checking account

b)

Deposit

c)

Withdrawal

d)

Savings account

5.

A deposit bank account that lets you securely store funds while also earning interest. You can deposit your money at your bank through cash, check or bank transfer, and it will safely earn interest while it is in your account.

a)

ATM

b)

Debit Card

c)

Checking Account

d)

Savings Account

6.

A payment card that deducts money directly from your checking account to pay for a purchase.

a)

Debit Card

b)

Credit Card

c)

ATM

d)

Checkbook

7.

A payment card that allows you to borrow funds to pay for a purchase. You must pay back the borrowed money, plus any applicable interest, either in full by the billing date or over time.

a)

Debit Card

b)

Credit Card

c)

ATM

d)

Checkbook

8.

A book of blank checks with a register for recording checks written.

a)

Debit Card

b)

Credit Card

c)

Checkbook

d)

ATM

9.

(Automated Teller Machine)

A machine that dispenses cash or performs other banking services when an account holder inserts a bank card.

a)

PIN

b)

Loan

c)

Debt

d)

ATM

10.

(Personal Identification Number)

A security code for verifying your identity. Similar to a password, your PIN should be kept secret because it allows access to important services such as ATMs and transactions.

a)

PIN

b)

Loan

c)

Debt

d)

ATM

11.

A thing that is borrowed, especially a sum of money that is expected to be paid back, sometimes with interest.

a)

ATM

b)

Loan

c)

Interest

d)

PIN

12.

Money that is owed to another person or organization.

a)

ATM

b)

Loan

c)

Debt

d)

PIN

13.

An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero.

a)

Overdraft

b)

Late fee

c)

Bank statement

d)

Credit Score

14.

A late fee is a charge imposed on a consumer who fails to make the payment on a debt by the due date.

a)

Overdraft

b)

Bank statement

c)

Late fee

d)

Credit Score

15.

A record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it.

a)

Credit score

b)

Late fee

c)

Overdraft

d)

Bank statement

16.

A record of your money habits that looks at your past behavior, taking into consideration unpaid bills, debts, and accounts open. A score is given to a bank to indicate if you are likely to pay back money loaned.

a)

Bank statement

b)

Credit Score

c)

Late fee

d)

Overdraft

17.

One of two things; either the money the bank adds to your savings each month, or the amount you need to pay back on top of money you have borrowed over time, such as on a loan.

a)

Interest

b)

Balance

c)

Late fee

d)

PIN

18.

The amount of money you have in a bank account, or the amount of something that you have left after you have spent or used up the rest.

a)

Savings account

b)

ATM

c)

Interest

d)

Balance