Banking terms and loans

Loans

A thing that is borrowed and is expected to be given back with interest. Some bussiness's like QuickQuid make loans. With money some people use the phrase ''I dont have a money tree.''

Banking terms

You can bank online and store your money in a bank for safe keepings so when you come back later the money will be there


Credit Card/Debit card

A credit card is a plastic card issued by a bank, business, etc., for the purchase of goods or services on credit as shown in the top picture. A debit card is a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase, business, etc., for the purchase of goods or services on credit as shown in the bottom picture.

Overdraft

An extension of credit from a lending institution when an account reaches zero. An overdraft allows the individual to continue withdrawing money even if the account has no funds in it. Basically the bank allows people to borrow a set amount of money.