Bank services and products – Vocabulary and Phrases
to issue a card – to deliver for use
The card will not be issued until 1 June.
valid – legally effective
The contract is not valid.
to owe money to – to be under obligation to pay or repay
He owed $120,000 to the bank.
PIN code – personal identification number; a number assigned to an individual, used to establish identity in order to gain access to a computer system via an automatic teller machine, a point-of-sale terminal, or other device
I would like to change my PIN.
to steal a card – to take a card without its owner's permission
I got my card stolen when I was shopping in the supermarket.
to cancel a card – to decide to finish using the card
What shall I do if I want to cancel my card?
credit limit – the maximum amount of credit that a customer of a store, bank, etc., is authorized to use
I am not sure how much credit limit is.
overdraft limit – the maximum amount of overdraft that a customer of a bank is authorized to use
Please be aware that the annual overdraft limits do not carry forward from one year to the next.
available – able or ready to be used; accessible
All the available money has been used.
to clear – to pay (a debt) in full
The widow had to borrow money to clear her husband's estate.
to exceed – to go beyond a limit; to be greater than a limit
His expenditure exceeds his income.
to pay off – to pay (a debt) in full
You can use our web calculator to see what it will take to payoff your credit card balance, and what you can change to meet your repayment goals.
to arrange an overdraft – to ask for it at your bank
If you need to arrange an overdraft, you can do this by speaking to your branch, or by using our telephone or internet banking services
account history – a record of your account activity
If you are a PECO Business Customer and would like a copy of your electric or gas account history for the past two years, all you have to do is complete and send in this online form .
to approve credit – to agree to a demand for credit
When deciding whether to approve credit, lenders take your payment history into consideration.
to refuse credit – to disagree to a demand for credit
What are my options if I have been refused a credit?
reason for the loan – a basis for your need to borrow
First you should give your reasons for the loan.
monthly repayments – regular payments to clear a debt
There are still 22 monthly payments.
to apply for a loan – to ask for a loan
I would like to apply for a loan. What shall I do?
loan application form – a document to be filled in when applying for a loan
Please fill in the loan application form and send it to us.
to process an application – to handle it and decide what action will be taken next
Your application is being processed. Please wait.
a counter – table or desk on which business is transacted
Please can you go to another counter?
loan period – the time for which you are given the loan
The property would have to be fully insured against all possible hazards during the loan period in favour of the bank.
safe – without risks; not dangerous
However, safe banking online involves making good choices – decisions that will help you avoid costly surprises or even scams.
secure – free from or not exposed to danger or harm; safe
security – freedom from danger, risk, etc.; safety
The insurance policy gave the family security.
to authorize – to allow; to give permission for
The transaction has not been authorized by the Risk Management Department.
phone banking – using a phone to operate your account
Internet banking – using the internet to operate your account
convenient – suitable; comfortable
This way of paying a debt is very convenient.
to access an account – to get to an account
You can access your account 24 hours a day.
to have access to an account – to be able to get to an account
a current account – an account with a bank from which money may be withdrawn by cheque
a joint account – a bank account in the names of two or more persons or parties and subject to withdrawals by each
an account holder – the person in whose name the bank keeps the account
a cashier – an executive who has charge of money, esp. one who superintends monetary transactions, as in a bank
Bank cashiers, also known as customer service advisers, are the first point of contact for a bank’s customers.