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Financial terms

This is where you deposit your money. Your account is held in a financial institution, which keeps it safe.

Authentication checks your identification to make sure it’s really you logging on.

A balance is how much money you have in your account right now.

A balance forward is the amount you have in your account at the beginning of the month.

Cheques are documents that adults fill out and use to pay for something with money from their accounts. A cheque is a way to pay for something.

This is a plastic card with a chip that you can use to make ATM withdrawals or purchases in stores. It’s a way to pay for things.

You make a deposit when you use a school caisse envelope to put money in your account.

When you deposit a cheque, there is a 5 to 7 day period where the caisse makes sure it’s ok before depositing it into your account.

Interest is the money your financial institution deposits into your account to thank you for using their services. Interest is determined by the balance in your account.

Your password is made up of 6 to 12 characters (letters and numbers). It’s confidential and you use it to log on to your account.

A PIN is a number linked with your debit card. You’ll have to enter your PIN before you make a transaction.

You might have to buy a share when you become a member of a cooperative like Desjardins. When you own a share, you become an owner of the company, just like the other members. At Desjardins, a share is $5 and you’ll be asked to pay it when you start high school.

A statement lists all of your account transactions for a certain period.

A transaction can be a withdrawal, deposit, purchase or transfer. Transactions are activity in your account.

A transfer is when a family member transfers money from their account (withdrawal) to your account (deposit).

You username is the 16 number code that the caisse gave you. It starts with 4540.

When you make a purchase, you withdraw money from your account to pay for it.