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Checking & Banking Vocabulary Test

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1.
1 point
The final amount of a deposit, less cash received.
2.
1 point
An invalid check that cannot be cashed. To “void” a check means to mark the check with the word “VOID.”Voi
3.
1 point
A check “clears” when its amount is paid and subtracted from your checking account. Allow three business days for a check to clear.
4.
1 point
The amount of money currently in an account.
5.
1 point
Acronym for “automated teller machine”. Allows customers to get cash and conduct banking transactions.
6.
1 point
A bank account that allows you to put money away to use later. The bank pays interest in exchange for use of the money in the account.
7.
1 point
Business done with a bank, including deposits and withdrawals.
8.
1 point
Tells how much money you currently have in your account (account balance).
9.
1 point
ATM/debit cards accepted at stores or restaurants as payment.
10.
1 point
A bank employee who performs banking services for the public, such as cashing checks and accepting deposits.
11.
1 point
A monthly fee a bank charges for handling a checking account.
12.
1 point
an automatic payment system where bills are paid through direct withdrawal from a bank account.
13.
1 point
A banking card that can be used to purchase goods and services electronically. The card replaces cash or checks.
14.
1 point
A savings or checking account set up in the names of more than one person, i.e. parent/child.
15.
1 point
A check written for more money than is currently in the account. If the bank refuses to cash the check, it is said to have “bounced.”
16.
1 point
A financial cooperative owned by its members to serve its members. It offers the same financial services as a bank.
17.
1 point
To sign the back of a check before cashing or depositing it.
18.
1 point
A business that keeps money safe for its customers, lends money to borrowers, and provides other financial services.
19.
1 point
An itemized slip showing the exact amount of paper money, coin, and checks being added to an account.
20.
1 point
A “used” check. It has been paid and subtracted from the check-writer’s account. Canceled checks have extra information on them from the bank tracking the payment process.
21.
1 point
A written document instructing the bank to pay a specific amount of money from the check-writer’s account to a specific person or company.
22.
1 point
An amount of money taken out of an account.
23.
1 point
A check that a bank has refused to cash or pay because the check-writer did not have enough money to cover it in his or her account. This is referred to as having “insufficient funds."
24.
1 point
The money put into a bank account. An ATM can accept bills only, for deposit; it cannot accept change.
25.
1 point
earnings automatically deposited into bank accounts.
26.
1 point
Money deposited with a bank for safekeeping
27.
1 point
The money a bank pays for the use of a person’s money. Interest is referred to in terms of annual percentage rate (APR).
28.
1 point
A secret number or code that protects the security of an account.
29.
1 point
The card that a customer signs when he/she opens a bank account. The signature is a form of personal identification.
30.
1 point
A request made to a bank to not pay a specific check. There is often a charge for this service.
31.
1 point
The least amount of money a bank requires when opening an account.
32.
1 point
An account that allows you to deposit money and write checks on that account. Checking accounts pay less interest than savings accounts or none at all.
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