American bank
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This document defines common banking terms such as bank teller, deposit, withdrawal, ATM, debit card, checking account, savings account, and certificate of deposit. A bank teller assists customers with transactions, a deposit adds money to an account, and a withdrawal removes money from an account. A debit card and ATMs can be used to access checking accounts, while savings accounts earn interest and allow deposits and withdrawals at any time. Certificates of deposit offer higher interest rates but lock deposited funds in for a set period of time.
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American bank
- 2. Bank Teller Person who works at the bank helping people with transactions (put money in or take money out of their account).
- 3. Deposit Take money to the bank to place (put) in your bank account.
- 4. Withdrawal To take out money from your bank account.
- 5. ATM Automated Teller Machine
- 6. Debit Card You use this card to withdraw money from your account through an ATM, or to make purchases (buy something).
- 7. Checking Account When you open a checking account, you can withdraw money from the account with a DEBIT CARD or by writing CHECKS.
- 8. Savings Account When you open a savings account, you SAVE money and EARN INTEREST. You can deposit into or take money out of this account any time.
- 9. Certificate of Deposit (CD) You leave your money in this account to earn a HIGHER INTEREST RATE, but you cant deposit into or take money out of it at any time. You LEAVE MONEY in this account for three months or more.