Banking Vocabulary

Front

A bank account from which you can take money by writing checks or using a debit card.

Back

checking account

Front

An automatic deposit of a check without having to take a physical check to the bank.

Back

direct deposit

Front

To sign the back of a check.

Back

endorse

Front

Not enough money in your account to pay for something.

Back

insufficient funds

Front

A line of credit or savings to protect from overdraft fees if you have insufficient funds.

Back

overdraft protection

Front

Percentage of money borrowed (a loan or credit) that will be added to the total owed and must be paid back.

Back

interest rate

Front

A bank account that two or more people share.

Back

joint account

Front

A report of withdrawals, deposits, and balances sent from a bank to a customer/member.

Back

bank statement

Front

The amount of money still owed on a bill, loan, or line of credit.

Back

outstanding balance

Front

A specific amount of money that a bank requires to open or maintain an account.

Back

minimum balance