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JA Unit 1 Vocab
| Term | Definition |
|---|---|
| balance | the current amount of money in an account |
| bank | a business that offers money-related services to its customers, including loans and checking and saving accounts |
| bounced check | a check that is written for more than the amount of money in a checking account. The writer is responsible for paying the amount of the check and is usually charged a high fee. |
| check register | a booklet for recording money deposited to and withdrawn from an account |
| checking account | a bank account used to pay bills and access funds using checks and debit cards |
| check | a written order to a bank to pay a certain amount of money from a checking account to another person or business |
| credit card | a card that allows the holder to buy goods and services by taking out a bank loan |
| credit union | a financial institution owned by its members that provides many of the same services as a bank |
| debit card | a card that allows customers to electronically and immediately withdraw funds from their accounts either in cash or to purchase goods or services |
| deposit ticket | a written record of money put into a checking account |
| net deposit | the amount of money put into an account after all deductions (such as cash received) are made |
| online banking | a service that allows customers to perform banking activities using the internet |
| personal check | a check written from a personal checking account |
| savings account | an account that usually earns interest and is often used to hold money that isn't needed right away |
Created by:
cathstack
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