Opening a Bank Account Vocabulary

Study online at quizlet.com/_erfsq

1. account A sum of money you keep in a bank that you can add to or take from
2. balance The amount of money you have in an account at a specific time
3. bounced check A check written for more money than there is in the account
4. charge Money you must pay for a service or as a penalty
5. credit A record of how good you are at paying your bills and repaying loans
6. deposit Money you put into a bank account
7. fee Money you pay for professional services
8. financial Related to money
9. interest The amount you pay to borrow money or the amount you earn on savings
10. limit Maximum number or amount allowed
11. loan Borrowed money
12. rate The amount of a charge or payment by percentage
13. transfer To move money from one account to another
14. withdrawal Money you take out of a bank account