ATM: Automatic teller machine mainly used to dispense cash from an account by using a card with PIN access.
Balance: Used to describe what is owed on a statement of account (bill). The difference between money received and paid. Can be positive or negative.
Bank: A financial institution providing a range of services based on customers who deposit and withdraw money including loans.
Bank account: An arrangement with a particular bank to deposit or withdraw money from that bank.
Bank fees: Charges for providing particular banking services.
Bank statement: Summary of receipts into (credits) and payments out of (debits) a bank account over a period of time.
BPAY: Payment of bills by transferring funds from your savings account to another bank account using the Internet.
Budget: A plan of expected income and expenses for a period of time.
Building society: Financial institution that accepts deposits, allows withdrawals and lends funds for housing.
Cash: Money in the form of notes and coins.
Cash register: A machine that records the value of transactions and provides a receipt. Usually computerised to give additional sales information, it can also operate as a cash box.
Cashier: A person operating the receipt and payment of money.
Cheque: A written promise to pay funds from a nominated bank account.
Cheque account: A bank account with a cheque book facility.
Consumer: An individual, business or government purchasing goods and services.
Credit: Power or authority to buy or borrow on trust.
Credit card: A card which identifies the holder as entitled to obtain without payment of cash goods or services which are charged to the users account.
Credit union: A financial institution that accepts deposits, allows withdrawals and lends money to members.
Debit: the recording of an entry of debt in an account.
Debit card: A card that allows you access to your money. Can be used instead of a credit card.
Debt: Money that is owed.
Deposit: Money paid into an account.
Deposit slip: A form to record payments into an account.
Direct debit: Funds taken directly out of an account and paid to someone else.
EFTPOS: Electronic Funds Transfer at Point Of Sale. A system of electronic funds transfer from a customers account to a merchants account.
Enterprise: A business involved in buying and selling goods or services. Activity aimed at making a profit.
Goods: Items available for purchase.
Interest: Return on savings. Cost of borrowing.
Internet banking: Being able to access and conduct transactions on your bank account through the Internet.
Lay-by: A deposit is usually paid and goods are put aside for later purchase.
Minimum balance: An amount of money in your account needed for that account to stay open or to avoid bank fees.
Passbook: A record for customers of transactions in a savings account.
Periodic payment: Payments made automatically at regular intervals.
Phone banking: Being able to access and conduct transactions on your account by telephone.
PIN: Personal Identification Number, a code used to allow access to personal information and funds
Sales contract: An agreement between two or more parties for the sale of goods or services.
Saving account: A bank account that accepts deposits and allows withdrawals and usually provides interest.
Scanner: An electronic machine that reads bar codes.
Transaction: The carrying through of business, negotiations to a conclusion or settlement.
Withdrawal: Taking money from an account.
Withdrawal slip: Record of money taken from an account.
