Finance Vocabulary

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1.
the middle set of numbers at the bottom of a check
2.
is the maximum amount of money a borrower can access from a financial institution
3.
a card used to access your accounts at an atm
4.
bills that will get paid through a direct withdrawal from you bank account
5.
balance can refer to the amount of money in a financial account
6.
the ending balance from the previous period carried over as the starting balance for the current period
7.
an institution that deals in money and its substitutes and provides other money-related services
8.
the banks records of your purchases, and your interest on your savings account
9.
when a check is signed by just the receiver
10.
when you account does not have the money to pay the check written
11.
is a savings account that pays interest on a fixed amount of money for a set period of time
12.
a paper form of payment, not often used anymore
13.
is a deposit account at a financial institution that allows you to deposit, withdraw, and transfer funds
14.
when the bank has added or subtracted the money from your account “posted”
15.
you agree to be responsible for someone else's debt
16.
the column on the right side of a general ledger that records money going out of an account
17.
non-profit financial cooperatives owned by their members and governed by a board of directors elected by, and from among, those members
18.
an accounting entry that creates a decrease in liabilities or an increase in assets
19.
a card used to make purchases requiring the use of a pin number
20.
an increase in assets
21.
add money to your bank accounts requiring a certain slip
22.
a form that is completed by an individual, known as a depositor, in order for them to make a cash or check deposit into a bank account
23.
a slip needed to deposit money into your account at the bank
24.
a form printed on paper that allows account holders to deposit cash or checks into their bank or credit union accounts
25.
when your employer has your account information and your paycheck goes directly to your account no paper check
26.
allows customers to pay bills electronically to a creditor or vendor
27.
to sign a check
28.
a cost associated with borrowing money, or the cost of credit
29.
funds means that there isn't enough money in an account to cover a transaction or withdrawal