Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
0:00
share
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

Financial services

Keywords/concepts for different banks accounts

QuestionAnswer
Income The amount of money you earn. This can be through a job or through investments or other means.
Current Account An account with a bank or building society from which you can withdraw money without giving notice. It can be used to set up standing orders or direct debits or use a cheque book.
Direct Debit An instruction from you to your bank or building society allowing someone to take money from your account. The amount of money taken can vary, but you must be told the amounts and dates beforehand. Eg. phonebill, ESB.
Standing Order Moves money from your own bank account to another account. It's a fixed sum and you tell your bank when to start and stop paying it. They are useful for making regular payments. Eg. Insurance.
Debit Card A plastic card which allows you to pay for goods or services. If you are in a shop, the cashier will insert your card into a machine and you will usually have to type in your PIN. The money is usually taken almost immediately from your account.
Cash Withdrawal Machine Dispense (gives out) money from your account, as well as providing information about your bank balance and some other services. Cash withdrawal machines are also known as ATMs (Automatic Teller Machines).
Chip and Pin A system to reduce card fraud. It has a 'smart' chip that holds your four-digit Personal Identification Number (PIN). When you pay in a shop with a chip and PIN card, you'll be asked to enter your PIN using a keypad.
PIN Personal Identification Number
Cheque Is a document that orders a payment of money from a bank account. The person writing it is called the drawer and usually has a current account.
Overdraft An agreement with your bank to spend more money than you actually have in your account. As you are borrowing money from the bank, there can be a charge for this service. You must be 18 years or over to have one.
Basic Account Allows you to receive money, and access it using a cash card. You can pay bills by direct debit. You generally can't take out more money than you have in your account you do not get a cheque book with this type of account.
Savings Account An account with a bank or building society in which you save money. Your money will often earn more interest in this type of account than a current account.
Interest An amount paid by a bank to the customer on savings placed with and the amount paid to a bank from a customer on money borrowed from it.
Deposit Account A type of bank account that allows money to be deposited (put in)and withdrawn by the account holder. Some financial providers charge a fee for this service, while others may pay the customer interest on the funds deposited.
Passbook A book held by someone with a bank account in which his or her deposits (money in) and withdrawals (money out) are recorded by the bank.
Created by: moneysense
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards