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Banking Vocabulary
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What does ATM stand for
Automated Teller Machine
Withdrawal
To take money OUT of your bank account
Deposit
To put money IN your bank account
Fee
An amount of money you are charged.
Direct Deposit
The electronic transfer of a payment directly from the payers account to the recipient’s account.
Interest
The amount of money you earn from the money in your savings account.
Checking
An account you use to pay bills that your debit card is linked to.
Income
Money received usually on a regular basis.
Overdraft
The fee that the bank charges you for spending more money than you have.
Withdrawal
The act of taking money out of your account.
Teller
The person who is at the window of the bank.
Savings
An account that you save money and do not touch. This account earns interest.
Balance
The amount of money you have in your bank account.
Expense
Money spent on something.


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