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 | A machine that provides cash and performs other banking services on insertion of a special card. |
| 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. |
| Cleared Check | Movement of a check from the bank in which it was deposited to the bank on which it was drawn, and the movement of its face amount in the opposite direction. |
| Credit Union | A nonprofit financial cooperative offering deposit accounts, low-interest loans, etc. |
| 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 | to write on the back of; especially : to sign one's name as payee |
| Expense | The cost required for something; the money spent on something. |
| FDIC | Federal Deposit Insurance Corporation, a body that underwrites most private bank deposits. |
| Fees | A payment made for professional advice or services. |
| Financial Literacy | The ability to understand finance |
| Financial Security | A security is a fungible, negotiable instrument representing financial value. |
| Fixed Expense | A cost that does not change with an increase or decrease in the amount of goods or services produced. |
| Income | Money received, esp. on a regular basis, for work or through investments |
| Interest | A charge for a loan, usually a percentage of the amount loaned. |
| Loan Overdraft | An extension of credit from a lending institution when an account reaches zero. |
| Memo | A written message, esp. in business; a memorandum. |
| Needs | A condition or situation in which something is required or wanted |
| Non-sufficient funds (NSF) | An acronym used in the banking industry to signify that there are "non-sufficient funds" in an account in order to honor a check drawn on that account |
| Online Banking | A system allowing individuals to perform banking activities at home, via the internet. |
| 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 | to bring into agreement or harmony; make compatible or consistent: to reconcile differing statements; to reconcile accounts. |
Created by:
DenzelC
Popular Finance sets