Accounts
A bank account used for daily spending
Checking Account
The money a bank pays you for keeping savings in your account, or the money you pay when you borrow.
Interest
A machine that lets you take out cash, deposit money, or check your balance without going inside the bank
ATM
When you spend more money than you have in your checking account
Overdraft
The smallest amount of money you must keep in your account to avoid extra fees
Minimum Balance
A bank account designed to save money and earn interest
Savings Account
Interest calculated on both the money you put in and the interest that has already been added.
Compound Interest
ATM
Automatic Teller Machine
A fee the bank charges if you spend more than the balance in your account
Overdraft Fee
The unique number assigned to your bank account
Account Number
Putting money into your bank account
Deposit
A record the bank gives you each month showing all deposits, withdrawals, and fees.
Statement
When your paycheck or money is automatically added to your bank account electronically.
Direct Deposit
Charges the bank may apply for services like overdrafts, account maintenance, or ATM use
Bank Fees
A type of savings account where money is locked for a set time and earns higher interest.
CD (Certificate of Deposit)
Taking money out of your bank account
Withdrawal
Any activity in your account, like deposits, withdrawals, or payments.
Transaction
Electronically managing your account on the internet instead of going to the bank.
Online Banking
A U.S. government agency that protects your money in banks up to a $250,000.
FDIC
A secret number used with debit cards and ATMs to protect your account.
PIN Number (Personal Identification Number)
The amount of money you currently have in your account
Balance
A written order telling the bank to pay money from your account to someone else.
Check
Using a smartphone app to check balances, transfer money, or pay bills
Mobile Banking
A card that allows you to borrow money from the bank to make purchases, which you must pay back later
Credit Card
A number that identifies your bank in transactions
Routing Number