Banking Vocabulary

A bank is

• You can ONLY make a deposit at a bank.

• a place to purchase groceries

• a place where customers keep, save or borrow money.

ATM stands for

Balance means

• when you take OUT money from your checking account.

• The amount of money in ones bank account at any given time.

• Putting money IN your checking account

A _____________ _____________________ is a printed record of the balance in a bank account

A Bank Teller is

• an employee of the phone company

• An employee of a bank who job it is to help customers handle their money.

• Bank teller will open new accounts.

What is a slang term used when a customer doesn’t have enough money in their bank account to cover a check written.

• Bounce

• Teller

• deposit

Branch is a

• tree

• a place you go to buy clothes

• Local office of a bank where customers can go to do their banking.

A checking account is a ___________________.

• A checking account is a deposit account held at a financial institution that allows withdrawals and deposits

• A checking account is used to save money.

• A checking account does not issue you checks.

A credit card is ____________________________.

• issued by your parents

• free money from the bank.

• A plastic card used to make purchases today that you have promised to pay back later to your bank. Likely with interest.

A debit card is _________________________.

• Just like a credit card

• a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately taken from your bank account to pay for the transaction.

• The money is deposited weekly and your parents arrange the amounts.