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Banking Vocabulary

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  • Fee
    An amount of money you are charged.
  • What does ATM stand for
    Automated Teller Machine
  • Withdrawal
    To take money OUT of your bank 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.
  • Deposit
    To put money IN your bank account
  • Direct Deposit
    The electronic transfer of a payment directly from the payers account to the recipient’s account.
  • Balance
    The amount of money you have in your bank account.
  • Withdrawal
    The act of taking money out of your account.
  • Overdraft
    The fee that the bank charges you for spending more money than you have.
  • Checking
    An account you use to pay bills that your debit card is linked to.
  • Interest
    The amount of money you earn from the money in your savings account.
  • Expense
    Money spent on something.
  • Income
    Money received usually on a regular basis.