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PCS Financial Math
Chapter 4 Vocabulary - Checking Accounts
| Term | Definition |
|---|---|
| deposit | money put into a bank account |
| automatic teller machine (ATM) | a bank machine that allows you to deposit or withdraw money electronically using a card |
| personal identification number (PIN) | a personal number on a bankcard that gives you access to your bank account electronically |
| checking account | allows the holder to write checks against money that has been deposited into it |
| check | directs a bank to deduct money from your checking account to make a payment |
| check register | a record you keep of your checking account deposits, withdrawals, and transfers |
| balance | the amount of money you have in an account |
| bank statement | received from the bank each month listing all your checks that the bank has cleared, including any automatic transfers, ATM transactions, and deposits that the bank has recorded since your last statment |
| service charge | fee charged for services rendered |
| reconcile | to compare your check register with the bank statement of your checking account to make sure they agree |
| online banking | doing bank transactions, such as loan payments and funds transfers, electronically over the internet |
Created by:
Ms.Sala
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