Banking Unit Vocabulary

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Across
  1. 1. A bank product that earns interest on a lump-sum deposit that's untouched for a predetermined period of time
  2. 3. The amount of money you have in your bank account
  3. 7. The person to whom the check is made payable
  4. 10. Original amount of money saved or invested, separate from interest or earnings
  5. 14. The rate at which the price of goods increases and consumer purchasing power decreases over time
  6. 17. A fee paid to you for keeping your money in an account OR a fee charged to you for a loan or credit card
  7. 18. An automatic electronic deposit of net pay to an employee's designated bank account
  8. 19. Money set aside for unanticipated expenses or loss of income
  9. 21. A term used to describe a person who does not use or does not have access to traditional financial services
  10. 22. A monthly document prepared by your financial institution which shows all of the transactions related to your account
  11. 23. A consumer banking technology that allows you to schedule and make payments over the internet
  12. 24. A sum of money deducted FROM your account
Down
  1. 2. A record that allows you to keep track of checks you have written, ATM/debit card transactions, as well as deposits and withdrawals
  2. 4. An application that runs on mobile devices. It securely stores your payment information and passwords and allows you to pay for items without needing your physical cards.
  3. 5. Reinvesting earned interest back into the principal, so that interest is calculated on both the initial amount and the accumulated interest
  4. 6. A loan banks offer to their customers when they try to withdraw more funds than they have in their account, usually for a fee and with interest
  5. 8. A measurement of your assets (money you've saved or things of value you own) minus your liabilities (money you owe others); also called net worth
  6. 9. A mobile banking tool that allows you to deposit checks to your bank account using your mobile device
  7. 11. The buying of goods without planning to do so in advance, as a result of a sudden whim or urge
  8. 12. A popular savings rule of thumb in which 50% of your income goes towards necessities, 20% goes towards saving and debt repayment, and 30% goes towards flexible spending
  9. 13. To sign the back of a check made out to you so it can be cashed or deposited
  10. 15. A monthly fee that some banks charge to provide access to checking or savings accounts
  11. 16. A sum of money deposited INTO an account
  12. 20. a written, dated, and signed order to the bank that tells it to pay a definite sum of money to a payee