Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Budget and Banking
| term | Definition |
|---|---|
| ATM | automated-teller machine |
| Account Balance | how much money is in a persons savings account |
| 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 |
| Cleared Check | the money is taken from a checking account and sent to the check recipient's account. |
| Credit Union | a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit |
| Debit Card | A debit card (also known as a bank card or check card) is a plastic card that provides the cardholder electronic access to his or her bank |
| Deposit | to place for safekeeping or in trust, especially in a bank account: He deposited his paycheck every Friday. |
| Direct Deposit | a banking option that allows for the transfer of funds without paper checks. |
| Endorse | approve something formally: to give formal approval or permission for something |
| Expense | cost or charge |
| FDIC | an independent agency created by the U.S. Congress to maintain stability and public confidence |
| Fees | the price one pays as remuneration for services. |
| Financial Literacy | the ability to understand how money works in the world: how someone manages to earn or make it |
| Fixed Expense | 1.unchanging expense: a business expense that does not vary according to the amount of business |
| Income | 1.money received over period: the amount of money received over a period of time either as payment for work, goods, or services, or as profit on capital |
| Interest | The fee charged by a lender to a borrower for the use of borrowed money, |
| Loan Overdraft | Loan arrangement under which a bank extends credit up to a maximum amount (called overdraft limit) against which a current (checking) account |
| Memo | 1.written communication: a written communication similar to a letter but without the formal address blocks at the beginning, especially one that is circulated to people within an office or organization |
| Non-sufficient funds | a term used in the banking industry to indicate that a demand for payment (a cheque) cannot be honored because insufficient funds |
| Online Banking | A system allowing individuals to perform banking activities at home, via the internet |
| Payee | 1.person being paid: somebody to whom money is being paid or is due, especially the person to whom a check or money order is payable |
| payer | 2.somebody responsible for payment: the person named as responsible for the payment of a check, money order, or other financial paper when it is redeemed |
| Reconcile | end conflict: to solve a dispute or end a quarrel |
| Savings | money saved: money set aside for future use |
| Variable Expenses | cost determined by output: a cost that varies directly in relation to output |
| Withdrawal | 1.taking money from bank: the act of taking money from a bank account, or the amount of money taken out |
| Wants | desire something: to feel a need or desire for something |
Created by:
Kaylarenee
Popular Finance sets