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Banking11

QuestionAnswer
ATM automated-teller machine
Account Balance The amount of money in a financial repository, such as a checking account, at any given moment.
Budget An estimate of income and expenditure for a set period of time
Checking Account An account at a bank against which checks can be drawn by the account depositor. An account at a bank against which checks can be drawn by the account depositor.
Cleared Check Movement of a check from the bank in which it was deposited to the bank on which it was drawn,
Credit Union A nonprofit financial cooperative offering deposit accounts, low-interest loans
Debit Card A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
Deposit A sum of money placed or kept in a bank account, usually to gain interest
Direct Deposit The electronic transfer of a payment directly from the account of the payer to the recipient's account.
Endorse Declare one's public approval or support of.
Expense The cost required for something; the money spent on something. The cost required for something; the money spent on something. The cost required for something; the money spent on something. The cost r
FDIC Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits.
Fees payment made for professional advice or services
Financial Literacy Financial literacy is the ability to understand finance. More specifically, it refers to the set of skills and knowledge that allow an...
Financial Security security is a fungible, negotiable instrument representing financial value. Securities are broadly categorized into debt securities...
Fixed Expense Costs of owning and operating a property that are not discretionary and, except for occasional increases, do not change...
Income Money received, esp. on a regular basis, for work or through investments
Interest The amount charged,
Loan Overdraft arrangement under which a bank extends credit up to a maximum amount
Memo message, esp. in business; a memorandum.
Needs requirement, necessary duty, or obligation
Non-sufficient funds (NSF) A term used to indicate when an item such as a check, or other transaction presented for payment is returned unpaid because the availabl...
Online Banking Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or...
Payee A person to whom money is paid or is to be paid, esp. the person to whom a check is made payable.
Payer a person who pays money for something
Reconcile Restore friendly relations between
Savings 1.An economy of or reduction in money, time, or another resource
Variable Expenses (Variable expense) Variable costs are expenses that change in proportion to the activity of a business.
Wants A lack or deficiency of something
Withdrawal An act of taking money out of an account.
Created by: Janaee3 on 2013-03-18



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