Independent Banking: Banking Terminology

B

100

Abbreviation of Automated Teller Machine - a machine from which you can take money out of your bank account using a debit card (or credit card)

ATM

200

The amount of money in a bank account

Bank Balance

300

Sums of money paid by a customer for a bank's services.

Bank Charges/Fees

400

A printed record of the money put into and removed from a bank account.

Bank Statement

500

When a check cannot be paid or accepted by a bank because of a lack of money in the account

Bounce or NSF

A

100

Money in the form of notes and coins, rather than checks or credit cards

CASH

200

To exchange a check for cash

Cash a check

300

A book of checks with your name printed on them which is given to you by your bank to make payments with

Checkbook

400

A printed form, used instead of money, to make payments from your bank account

Check

500

A small plastic card which can be used as a method of payment 

Credit Card

N

100

A bank account that you can take money from at any time and which usually earns little or no interest

Checking Account

200

To put money in a bank account

Deposit

300

A small plastic card which can be used as a method of payment that comes directly out of your checking accoutn

Debit Card

400

When you spend or use money

Expenses

500

Money which is charged by a bank or other financial organization for borrowing money (or money or you earn from keeping your money in a financial institution)

Interest

K

100

DAILY DOUBLE!!!

A sum of money which is borrowed, often from a bank, and has to be paid back, usually with interest

Loan

200

A person who money is paid to or should be paid to (and is the person a check is made payable to)

Payee

300

A bank account in which you usually leave money for a long time and which pays you interest

Savings Account

400

To take money out of a bank account

Withdraw

500

To compare your record keeping against the banks (using your bank statement and checkbook register-or your form of record keeping)

Reconcile

S

100

Usually a four digit number to access your account using your debit card

Pin Number

200

A printed order for payment of a specific amount issued by a bank or post office

Money Order or Cashier's Check

300

A nine digit number printed at the bottom of checks to identify the financial institution

Routing Number

400

To compare your record keeping against the bank's (using your bank statement and checkbook register-or your form of record keeping)

Reconcile

500

DAILY DOUBLE

When I set up my direct deposit, I gave my _____ _____ so my check would go to the correct banking institution

ROUTING NUMBER