Checks, Accounts, and More

VOCAB 1

100

A bank account designed to hold funds for a short period of time.

Checking Account

200

Money that you take from the account

Withdrawal

300

Bank account designed to hold money for a long period of time

Savings account

400

The lowest amount some accounts require to avoid a fee

minimum balance

500

A card used to withdraw money directly from your checking account

Debit card

VOCAB 2

100

Money that you put into your account

Deposit

200

Electronic transfer of payment from a company or organization to an employee's bank account

Direct Deposit

300

the amount of money in your account

Balance

400

Manage your money from a computer-make transfers, deposits, pay bills, view accounts

Online Bill Pay

500

Sum of money that is paid for the use of another's money-paid by bank to customer

Interest

ON A CHECK

100

Where is the routing number located?

At the bottom of the check

200

Where is the check number?

At the top-right of the check

300

Where do you sign the check?

Bottom right of the check

400

What goes on the memo line?

What you are paying for

500

Where do you write who you're paying?

on the Pay to the Order of line

MISC

100

Federal agency insuring bank deposits up to $250,000 per depositor

FDIC

200

Having no checking or savings account at an insured institution

Unbanked

300

A qualified professional who advises people on managing money

Financial planner

400

The term for signing the back of a check so it can be deposited or cashed

Endorse

500

A running record of every deposit and withdrawal in an account

Check register

MISC - Part 2

100

If you are making a deposit, do you add or subtract?

Add.

200

If you are making a withdrawal, are you adding or subtracting?

subtracting

300

If you are using your debit card, do you add or subtract?

Subtract

400

The up-to-date total after each transaction is recorded

Running balance

500

A not-for-profit, member-owned institution offering similar services

Credit union