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