Banking Items
A machine that allows people to complete basic transactions.
What is an automated teller machine (ATM)?
The amount of pay remaining after deductions from a person's gross pay.
What is my net pay?
A number assigned to a person based on factors such as their ability to make payments and the amount of money they owe.
What is a credit score?
Loans to a company or government that pay a fixed rate of interest to the lender over time.
What is a bond?
The balance less than zero showing you have spent more money than you have.
What is a negative balance?
A book of blank checks.
What is a checkbook?
The balance less than zero showing you have spent more money than you have.
What is a negative balance?
The ability for someone to borrow money and pay it back at a later date
What is credit?
A retirement plan offered by all Australian employers that allows employees to save and invest for their retirement.
What is Superannuation?
A fee incurred when a bank covers a payment that is greater than the available funds in a checking account
What is an overdraft fee?
A piece of paper accompanying each paycheck that lists gross pay, withholdings, deductions, and net pay.
What is a paystub?
Items withheld from a person’s pay, usually relating to benefits such as healthcare or retirement funds.
What is a Deduction?
An approved transaction that may be reflected in your account balance but has yet to be fully processed
What is a pending transaction?
A retirement plan designed for small business that allows employees to save and invest in their retirement.
What is a Simple IRA?
The placement of money into a checking or savings account.
What is a deposit?
A plastic digital card that allows people to make purchases on credit.
What is a credit card?
The recurring schedule that determines how frequently a person is paid.
What is a pay period?
An account transaction that has been fully processed
What is a posted transaction?
A bank account that earns interest and holds money for an extended period of time
What is a Savings Account?
A transaction that was unauthorized by an account holder.
What is a fraudulent transaction?
A plastic or digital card that deducts money directly from a checking account to make purchases.
What is a debit cared?
An electronic payment directly to an employee’s account by an employer
What is a Direct deposit?
A regular payments made to labor unions (which are organizations that represent collective interests of employees) to cover the cost of membership.
What are union dues?
A retirement plan offered by an employer allowing an employee to save for retirement.
What is 401K (pension) plan?
An approved transaction that may be reflected in your account balance but has yet to be fully processed.
What is a pending transaction?