Unit 4 Vocabulary

1. Interest on the principal and the interest already earned
6. To compare the information in a check register to a bank statement and correct any mistakes
8. A bank form usually sent each month to the account holder that lists all the checks paid, deposits, withdrawals, service charges and the account balance
9. To put money into a bank
10. To refuse to pay a check written for more money then the amount in an account
11. A piece of paper that orders a bank to take money from an account
12. A savings account with a minimum balance, a fixed interest rate and a fixed period of time
14. Interest on the principal only
16. A booklet used to keep track of the balance when a check is written or a deposit/withdrawal is made from an account
17. To take money out of a bank
18. The amount of money in a bank account

2. A line of credit that banks offer to their customers to cover their overdrafts. It kicks in when a customer writes a check for more than the amount in their account.
3. Card A bank card that allows you to use an ATM
4. A bank account where you can use checks in order to pay expenses
5. A machine that lets you access your bank account at any time
7. A business that offers financial services
13. A card with the name, address and authorized signature of an account holder.
14. Account A bank account used to save money and earn interest
15. A deficit in a bank account caused by drawing more money than the account holds.