Definitions
An unattended machine that dispenses money or adds money to your account when you use your pin.
ATM
A bank account which always pays interest.
Savings Account
Debit Card
A card used to withdraw money from your checking account.
What you will receive each month to help you keep track of your money.
Bank statement.
The extra money you are given for having money in your savings account.
Interest
Your name in cursive.
Signature
An account which your debit card is attached to.
Checking Account
Balance
The amount of money you have in your account.
When you use a debit card, how soon will the money be withdrawn from your checking account?
Instantly.
Every month I get a summary of all of my transactions for the past month. What is this summary called?
Bank Statement
Issued by a bank that allows you to borrow money and pay back the next month.
Credit Card
Reconcile
To make sure your bank account and your check register match up.
When you sign your name on the back of your check.
Endorse
I have $40. I deposited my paycheck of $550. What's my balance?
$590
Where do you keep track of withdrawals, deposits, debit card transactions, and ATM transactions?
Check Register or Bank App
What is it called when you take money out of your account?
Withdrawal
Direct Deposit
When your employer and you arrange for them to send your paycheck electronically to your account.
When you write on the back of your check "For Deposit Only"...
Restrictive endorsement
You're not sure if you want to cash, deposit or a combination of both. What endorsement would you use?
Blank endorsement.
When you use more money than you have in your account and your account goes below zero.
Overdraft
What is an Overdraft Fee?
A fee the bank charges when your account goes below zero.
Credit Score
Financial fingerprint. Number assigned that indicates to lenders the capacity to repay a loan.
When you receive a check for work you've done, but you want to give it to someone else.
Special endorsement
Your credit card is due and you owe $145. You can only pay $45. What will happen the next month when your bill comes to you.
There will be interest added to it.