CIBC Reading Vocabulary Flashcards
Monthly fee
The amount charged each month
discount
a deduction from the usual cost of something
transfer fee
The amount charged when you transfer or move money from one account to another
balance
The amount of money in your bank account
daily balance
The amount of money in your bank account each day
Transaction
A deposit in or a withdrawal from your bank account .
ALL-IN-ONE
A type of bank account that is both a chequing and a savings account
Chequing Account
An account you use for everyday deposits and withdrawals
Savings Account
An account you use to save money for things you want to buy in the future eg. a house or a car
Unlimited
no limit, as many as you want
To avoid
to prevent something from happening
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|Interest rate
A percentage of the balance in a savings account that tells you how much the bank will pay you to keep your money in the account \
Or the percentage of a loan that you must pay as the charge for borrowing money
Recurring Direct deposit
A direct deposit into your bank account that happens every week or month
Direct Deposit
A deposit that you allow someone like your employer or insurance company to .put into your account
Pre-authorized payment
A withdrawal you allow a company to make every week or month from your account to pay bills eg. rent or phone bills
additonal
extra
depending on your use
price varies by how many transactions you make
