Life Skills Vocab- Chapter 14

words/definitions

18 cards·by gregoryh

insufficient funds

not enough money in a checking account for the bank to pay the checks you write

checking account

money in a bank that can be taken out using a check or ATM card

deposit

money put in a bank

check

a written order directing a bank to pay a certain amount of money from the account of the person who signs it to the person named

minimum deposit

the lowest amount of money needed in an account

withdraw

remove something

interest

money that a bank pays you for keeping your money in a checking or savings account; also a fee that you pay when you borrow money

fee

cost

ATM

an automatic teller machine

signature card

a card you sign when you open a bank account

deposit slip

slip of paper that shows how much $ you put in the bank

reciept

a slip of paper the bank gives you that shows how much $ you put in or took from your bank account

check register

a small chart where you record the checks you have written and deposits you have made

balance

the amount of money in a bank account

cash

dollar bills and coins

savings account

money in a bank that gains interest

withdrawal slip

a piece of paper used to take money from the bank

bank statement

lists any checks you wrote or deposits or withdrawals you made