Vocabulary for March 27-Mar. 31

Annual Percentage Rate APR

Annual Percentage Rate -APR Annual percentage rate is the yearly cost of a financed amount, including interest and fees, expressed as a percentage rate.

Annual Percentage Rate The annual percentage rate was 8%.

Annual Percentage Rate

ATM

ATM ATM is an acronym for automated teller machine, an electronic banking device that allows customers to complete financial transactions without the aid of a teller.

ATM

Marco withdrew money from his ATM at his bank.

ATM Do banks charge fees for using their ATM machines? Can you make deposites at an ATM machine? Can you withdraw any amount of money from an ATM machine?

Bank Balance

Bank Balance A bank balance is the total amount of money in a bank account at any given time.

Bank Balance Sally’s bank balance was $325.50

Bank Balance

Bank Balance Can a bank balance be a negative amount? Do you have to know your bank balance in order to write checks? If your bank balance is negative should you write a check?

Check

Check A check is a slip of paper that is filled out to allow a bank to take money from a checking account to pay for a purchase.

Check Alberto wrote a check to pay for his lunches for the week.

Check

Check Can a check be sent through the mail? If you receive a check for a job you did, do you have to endorse it on the back before it can be cashed? Is a check the same thing as cash?

Check Register

Check Register A check register is a table for recording information about transactions written on a bank account.

Check Register A check register is an excellent tool for keeping up with how much money you have in the bank each month.

Check Register

Check Register Does the bank keep your check register for you? Is a check register always accurate? Should you enter a check in the check register as soon as you write it?

Credit Card

Credit Card A credit card is a card, issued by a bank, store, or other business, that is used to borrow money or buy goods on credit; borrowers make regular payments to repay the amount of money borrowed with interest and fees.

Credit Card

Debit Card

Debit Card A debit card is a card issued by a bank that a customer uses to pay for purchases with money directly from a checking account.

Debit Card

Credit Limit

Credit Limit Credit limit is the maximum amount a credit card will allow someone to borrow on a single card.

Credit Limit

Credit

Credit Credit is an amount of money that a lender or business allows a person to use to purchase goods and services with a promise to repay the money, usually with interest.

Deposit

Deposit Deposit is money placed into a checking or savings account at a bank.

Direct Deposit

Direct Deposit Direct deposit is an electronic transfer of a payment directly from the payer’s account to the recipient’s account.

Direct Deposit

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