Banking

Banking vocabulary Savings account – bank account that allows you to put money away to use later – earns interest. ATM – allows customer to get cash and conduct banking transactions Bank – Safe place to keep our money, lends $ to borrowers and provide other banking services. Checking account – An account that allows you to deposit $ and write checks or use as a debit card https://www.youtube.com/watch?v=n273-rQIK-c – video explaining checking and savings

Banking vocabulary Credit Union – Financial cooperative owned by its members to service its members. Same as a bank. Interest – Money a bank pays for use of a person’s money Joint Account – Savings or checking account set up in names of more than one person. Minimum deposit –Smallest amount of money a bank requires to open an account https://www.youtube.com/watch?v=mV6YaTbNvvE

Banking Vocabulary Teller – Bank employee who performs banking services for the public such as cashing checks and accepting deposits. Bounced check – check that a bank has refused to cash because the check writer did not have enough money in their account. Check card/Debit Card – Card that replaces cash or checks can be used at an ATM with a pin #, or in retail stores. (Never use Debit card to order from Internet)

Banking Vocabulary Stop payment – a request made to a bank to NOT pay a specific check Service Charge – Monthly fee a bank charges for handling your account if you don’t keep a minimum balance. Voided check – AN invalid check that cannot be cashed. Mark the check with VOID in big letters.