At the bank – Vocabulary and Phrases
an account – an amount of money deposited with a bank, as in a checking or savings account
My account is now with Third National.
a bank card – a card issued by a bank for credit or identification purposes, as for use in cashing checks or at an automated teller machine
A team of organized criminals is installing equipment on legitimate bank ATMs in at least two regions to steal both the bank card number and the PIN.
a payment card – Typically a payment card is backed by an account holding funds belonging to the cardholder, or offering credit to the cardholder.
It is a new program to secure payment car data.
a credit card – a plastic card having a magnetic strip, issued by a bank or business authorizing the holder to buy goods or services on credit
Do you take credit cards or do I have to pay cash?
a branch – a division of some larger or more complex organization
There isn't a branch of that bank in this town
credit – a sum of money due to a person; anything valuable standing on the credit side of an account
He has an outstanding credit of $50.
deposit – a payment given as a guarantee that an obligation will be met
His deposit was refunded when he returned the car.
foreign exchange – the system by which one currency is exchanged for another; enables international transactions to take place
The Federal Reserve Bank of New York carries out foreign exchange-related activities on behalf of the Federal Reserve System and the U.S. Treasury.
to change sth into sth – to give or get foreign money in exchange for
He changed dollars into euros.
headquarters – the chief administrative office of an organization
The company has its headquarters in the suburbs.
insurance – the promise of a sum of money in event of loss e.g. by fire or other disaster, given in compensation by a company etc in return for regular payments
Have you paid the insurance on your jewellery?
Internet (online) banking – a term used for performing transactions, payments etc. over the Internet through a bank, credit union or building society's secure website
Some customers avoid online banking as they feel it is too dangerous.
investment – a sum of money invested
It was not a very good investment.
to invest money in – to put money in a business
He invested all his money in a new business
a loan – something lent or furnished on condition of being returned
He was offered a $1000 loan at 10 percent interest.
a mortgage – a loan used to buy a flat or house
Compare the best mortgage rate and loan interest rates for adjustable loans from Bankrate.com.
to take out a loan – to borrow money from a bank
Deciding when to take out your first loan is an important decision.
to borrow from somebody – to be given money from somebody on condition you return it
I borrowed $1,000 from my uncle.
to lend to somebody – to give money to somebody on condition they return in
I cannot lend you any money. Sorry,
an overdraft – the amount of money by which a bank account is overdrawn
Overdraft financing is provided when businesses make payments from their business current account exceeding the available cash balance.
payment – something that is paid
We have received a large payment from one of our debtors.
to make a payment – to pay
You should make the payment as soon as possible.
savings – money saved
I have no savings.
to save money – put money aside for the future
I think we should start saving money.
shares – the units of stock that represent ownership in a corporation
You can open the online trading facility offered by the ICICI bank (icicidirect.com) and buy shares that you like.
a transaction – something transacted, especially a business agreement or exchange
The transaction of the deal took several days.
ATM – Automated Teller Machine
Is there an ATM nearby?
to open an account – to start to have an account in a bank
They opened the account two months ago.
to close an account – to finish having an account in a bank
I am going to close my account there.
to carry out transactions – to make transactions
When you take a payday loan most of the lenders use electronic transactions to carry out transactions related to these loans.
a form – a document with blank spaces to be filled in with particulars before it is executed
to fill in a form – to write in information required
Please fill in this form.
to advise – to give useful information, help
May I advise you?
advice – useful information given
May I give you some advice?
a client advisor – a person who gives advice to clients
The WRRI Client Advisor is designed to bring our clients timely and insightful information that will help them understand industry trends
to pay money into an account – to put money into an account
I paid $3,000 into your account.
to take money out of the bank – to withdraw money from your account
I need to take about $1,500 out of the bank.
an interest – a sum paid or charged for the use of money or for borrowing money
He got a loan of $50,000 at 8 percent interest.
an interest rate – the percentage of a sum of money charged for its use
You can figure out your estimated monthly mortgage payment by estimating your loan amount, interest rate, and time period.
to charge for something – to impose or ask as a price or fee
That store charges $25 for leather gloves.
a debt – something that is owed
Many young families are in debt.