Banking vocan

Question 1

Amount of interest that a $100 deposit would earn, after compounding, for one year.

Answer 1

Annual Percentage Yield (APY)

Question 2

A computer terminal that allows a withdrawal of cash from an account.

Answer 2

Automated Teller Machine (ATM)

Question 3

The amount of money you have in your bank account.

Answer 3

Balance

Question 4

The Bank’s accounting of your transactions.

Answer 4

Bank Statement

Question 5

A report that accounts for the differences between the bank statement and your checkbook balance.

Answer 5

Bank Reconciliation

Question 6

Checks the bank has paid. They will appear on your bank statement.

Answer 6

Cancelled Check

Question 7

A saving alternative in which money is left on deposit for a stated period of time to earn a specific rate of return.

Answer 7

Certificate of deposit (CD)

Question 8

A written order to the bank that tells it to take a stated amount of money from your account and pay it to another.

Answer 8

Check

Question 9

A handy portfolio that holds your check register, checks, deposit slips, receipts, and other ATM/debit card transactions.

Answer 9

Checkbook

Question 10

A business that cashes checks, giving the customer cash in exchange for a free for the service.

Answer 10

Check cashing store

Question 11

A record that allows you to keep track of checks you have written, ATM/debit cards transactions, as well as deposits and withdrawals.

Answer 11

Check register

Question 12

A non-profit financial institution that is owned by its members and organized for their benefit.

Answer 12

Credit union

Question 13

A for-profit institution that offers a full range of financial services, including checking, savings , and lending.

Answer 13

Commercial Bank

Question 14

The process in which interest is earned on both the principle, the original amount you deposited, and on any previously earned interest.

Answer 14

Compounding

Question 15

A sum of money deducted from your account.

Answer 15

Debit

Question 16

A cash card that allows you to withdraw money or pay for purchases from your checking or savings account.

Answer 16

Debit card

Question 17

Money you put into your account

Answer 17

Deposit

Question 18

A form you fill out to credit money to your account when you make a deposit.

Answer 18

Deposit slip

Question 19

An automatic deposit of net pay to an employee’s designated bank account.

Answer 19

Direct deposit

Question 20

To sign the back of a chack made out to you so it can be cashed or deposited.

Answer 20

Endorse

Question 21

The signature of payee, the party to whom the check has been written.

Answer 21

Endorsement

Question 22

A fee paid to you for keeping your money in the account or a fee charged to you for a loan or credit card.

Answer 22

Interest

Question 23

A savings account that requires a minimum balance and earns interest that varies from month to month.

Answer 23

Money Market Account

Question 24

A check that has been written but not yet deducted from the person’s bank account.

Answer 24

Outstanding check

Question 25

A deposit that has been made but not yet added to the person's bank account.

Answer 25

Outstanding deposit

Question 26

An automatic loan made to an account if the balance will not cover checks written.

Answer 26

Overdraft protection

Question 27

To write a check or make a withdrawal when there isn't enough money in account to pay for it.

Answer 27

Overdraw

Question 28

The person to whom the check is made payable.

Answer 28

Payee

Question 29

An online process that allows you to send money directly from your checking account to a friend via email or cellphone.

Answer 29

Person to person payment

Question 30

Personal Identification Number needed to use an ATM card.

Answer 30

PIN

Question 31

To write a future date on a check.

Answer 31

Point-of-sale transaction

Question 32

To write a future date on a check.

Answer 32

Post-date

Question 33

A card that is loaded with a specific cash amount before you use it but then looks and works like a credit card until the full value is spent.

Answer 33

Prepaid card

Question 34

The percentage of increase in the value of your savings from earned interest.

Answer 34

Rate of return

Question 35

To "balance" your checking account with your monthly statement from the bank.

Answer 35

Reconcile

Question 36

A financial institution that traditionally specialized in savings accounts and mortgage loans but now offers many of the same services as commercial banks.

Answer 36

Savings and Loan Association

Question 37

A card used when opening a new account that includes name, address, birthdate, etc.

Answer 37

Signature card

Question 38

The monthly record of your account transactions sent to you by your bank.

Answer 38

Statement

Question 39

A check "VOID" written across it that make it non-negotiable.

Answer 39

Voided check

Question 40

A request that a bank or other financial institution not cash a particular check.

Answer 40

Stop-payment order