Banking Terms

Put each of the following words or phrases in the correct gap. Some of the words are used more than once.

statement, period, opening balance, automated payroll, closing balance, deposit, withdrawal, credit, debit, savings account, checking account, interest, ATM (Automated Teller Machine), PIN Number, withdraw, insufficient funds, bounce a check, fee, charge,

Some people find reading their banking -- statement very difficult. The statement is usually based on a month's -- period of time. It usually begins with the -- opening balance of the previous month, includes any -- withdrawal OR deposit or -- withdrawal OR deposit and finishes with the -- closing balance. Many people are paid directly into their account by using -- automated payroll. If the bank -- charges you any -- fees for services rendered, you will also see these listed on your -- statement . All withdrawals are called -- debit , while all payments are considered -- credit . A -- savings account usually gains -- interest over time. However, there are some -- checking accounts that also give interest these days. One of the most popular ways to -- withdraw money these days is to use the -- ATM (automated teller machine) . To use this machine you need to insert your -- PIN number which gives you access to your account. If there are -- insufficient funds you will not be allowed to -- withdraw . In fact, one of the worst things you can do is to -- bounce a check on your -- checking account . This means that you have -- insufficient funds to pay the check. In this case, you are usually charged a rather high -- fee by the bank.

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