Banking Terms
A card issued by a bank that allows customers to withdraw money.
What is a debit card?
A written order instructing your bank to pay money to someone or a business.
What is a check?
A plan for spending and saving.
What is budgeting?
The maximum amount of charges allowed on an account.
What is a credit limit?
A share of ownership in a company.
What are stocks?
When a bank makes a payment that your account doesn't have enough money to cover.
What is an overdraft?
What is a deposit slip?
Using more money than you have available.
What is overspending?
A measure of your credit rating/credit worthiness.
What is a credit score?
A collection of assets that an individual or institution owns (example: stocks, bonds, cash, real estate)
What is a portfolio?
Yearly interest earned on a deposit into an account.
What is Annual Percentage Rate?
An account with two or more people.
What is a joint banking account?
Something that is an essential item required for life.
What is a need?
When goods, services, and/or money is received in exchange for a promise to pay back at a later date.
What is credit?
An asset or item acquired with the goal of generating income or appreciation over time.
What is an investment?
A statement that details a customer's deposits, withdrawals, and debit transactions.
What is a bank statement?
You are assigned this number when you open a checking/savings account.
What is a account number?
An item that is unnecessary but desired.
What is a want?
A person/organization who makes funds available for customer's to borrow.
What is a lender?
Sum of money paid regularly by a company to its shareholders out of its profits.
What are dividends?
The amount of money in a bank account that is available to spend or withdraw?
What is an available balance?
This number identifies your bank from all other banks.
What is a routing number?
An expense that does not change from month to month?
What is a fixed expense?
A record of a borrower's past loan and credit-related transactions.
Traditional retirement plan that you receive through an employer.
What is a 401K?