Budget and Banking Word Scramble
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Term | Definition |
ATM | A banking terminal that accepts deposits and dispenses and dispenses cash |
Account Balance | The amount of money in a financial repository, such as a checking account, at any given moment |
Bank Reconciliation | A process that explains the difference between the bank balance shown in an organization's bank statement |
Budget | An estimate of income and expenditure for a set of period of time |
Checking Account | An account at a bank against which checks can be drawn by the account depositor |
Cleared Check | The process of moving a check from the bank in which it was deposited to the bank on which it was drawn |
Credit Union | A nonprofit- money making cooperative whose members can borrow from pooled deposits at low interest rates |
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 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 | Sign on the back to make it payable to someone other than the stated payee or to accept responsibility for paying it |
Expense | The cost required for something; the money spent on something |
FDIC | An independent agency of the United States federal government that preserves public confidence in the banking system by insuring deposits |
Fees | A payment made to a professional person or to a professional or public body in exchange for advice or services |
Financial Literacy | The ability to understand how money works in the world |
Financial Security | A financial instrument that represents an ownership position in a publicly- traded corporation |
Fixed Expense | Those that do not fluctuate with changes in production level or sales volume |
Income | The amount of money received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments |
Interest | Money paid regularly at a particular rate for the use of money lent |
Loan Overdraft | A limit on borrowing on a bank current account |
Memo | A document given to an account holder which states that the account balance has been decreased |
Needs | Require (something) because it is essential or very important |
Non-sufficient funds (NSF) | A term used in the banking industry to indicate that a demand for payment |
Online Banking | An electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution |
Payee | A person to whom money is paid or is to be paid |
Payer | Someone who pays a bill for products or services recieved |
Savings | An economy of or reduction in money |
Variable Expenses | A corporate expense that varies with production output |
Wants | A desire for something |
Withdrawal | An act of taking money out of an account |
Created by:
droehner19
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