Financial Literacy Vocabulary

Front

A computer terminal that allows the user to access basic bank services, such as making deposits and cash withdrawals from remote locations, twenty-four hours a day.

Back

ATM

Front

Going through a process of making your bank statement balance AGREE (be consistent) with your chequebook register.

Back

Reconcile

Front

The use of a digital device to conduct online financial-related transactions.

Back

Electronic Banking

Front

The lowest or smallest amount of money that can be kept in your bank account without receiving a fee.

Back

Minimum Balance

Front

The process of signing the back of your cheque before it is deposited into your bank account. This can be done in one of four different ways: Blank, Special/Full, Corrective, and Restrictive.

Back

Endorsement

Front

APR on your bank account balance stands for...

Back

Annual Percentage Rate

Front

An electronic transfer of a payment directly from the bank account of the payer to the recipient's account. An example of this might include having your paycheque automatically added to your chequing account.

Back

Direct Deposit

Front

The act of moving your money from your savings account to your chequing account is called...

Back

Transfer

Front

Money deducted from an account is known as a...

Back

Withdrawal

Front

An exchange in which goods, services, or money are passed from one person or account to another.

Back

Transaction