Unit 2 Flashcards
Transaction
A deposit or withdrawal from an account
Checking Account
An account that you open at a bank that you can access multiple times a day if needed.
Credit Card
A card that is used to borrow money BUT you must pay it back or you get charged interest on top of what you borrowed.
Debit Card
A card that you use to purchase things, and the amount comes directly out of your checking account.
Savings Account
a bank account that earns interest.
Deposit
An amount of money that you ADD to an account
Direct Deposit
The electronic transfer of a payment directly from the account of the payer to the recipient’s account.
Withdraw
Remove or take away (something) from a particular place or position.
Loan
A thing that is borrowed, especially a sum of money that is expected to be paid with interest.
Earnings
Money obtained in return for labor or services.
interest
Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt
fee
A payment made to a professional person or to a professional or public body in exchange for advice or services.
Identity Theft
the fraudulent acquisition and use of a person’s private identifying information, usually for financial gain.
Debt
something typically money, that is owed or due.
Transfer
change to another place, route, or means of transportation during a journey.