Banking 101 Vocabulary

Otherwise known as "money machines", these machines allow you to access funds from your account even when your bank is not open.

• ATM

• CD

• DVD

• PIN

The amount of money in your account is called the ________.

• credit

• balance

• deposit

• income

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

A loan from a financial institution in which a credit limit is assigned and you can pay the money back in full or in monthly installments. If you use monthly installments, you will owe interest on the balance.

• direct deposit

• Service fee

• credit card

• POS

A plastic card similar to a credit card that withdraws money directly from a checking account. It is also known as a check card.

• CD

• overdraft

• payee

• debit card

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

Any transaction that removes money from your account.

• debit

• credit

• deposit

• PIN

A transaction in which money is added to your account.

• debit

• deposit

• ATM

• POS

The amount of income left to an individual after taxes and other monetary obligations are paid. Discretionary income is generally deposited into a saings account or used for additional spending by the individual.

• service fee

• interest

• Online bill payment

• discretionary income

Tags

CCSS.L.11-12.4C

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

You don't have enough money in your account available to pay the withdrawal you are attempting from that account. Your bank will typically charge you a fee for this.

• insufficient funds

• online statement

• credit card

• balance

Tags

CCSS.RI.9-10.4

CCSS.RI.9-10.4

CCSS.RI.11-12.4

CCSS.RI.7.4

CCSS.RI.8.4

The resulting amount of money credited to an account holder's account based upon a designated percent rate set by the bank.

• debit

• overdraft

• interest

• fee

Tags

CCSS.6.RP.A.3C

An online tool for managing your bank account. It typically allows you to transfer funds, check balances, complete customer service requests, and more.

• Online banking

• PIN based transactions

• Post-dating

• Discretionary income