Skip to main content

Banking vocabulary

Types of banks



Retail bank:
 a bank that provides banking services to individual customers, rather than to companies.Bank is an organization where you can invest or borrow money, or operate financial activities. There are different types of banks. They can include:
  • Commercial bank: a bank that accepts deposits in order to lend or invest.
  • Investment bank: a bank that raises capital for individuals, companies, and governments by underwriting.
  • Central bank (also reserve bank): main bank of a country that controls currency, money supply, credit system, and carries out the government’s financial policy.

Banking products and services


  • Account: an arrangement with a bank to keep your money there
  • Loan: an amount of money that are lent for a fixed period (e.g. three years)
  • Mortgage: a loan to buy real estate
  • Credit Card: a plastic card that is used to buy things and pay for them later.
  • Debit Card: a plastic card that is used to make payments electronically from a cardholder’s bank account
  • Cheque book: a written order that is used to make payments from a cardholder’s bank account.
  • Automated Teller Machine (ATM): a device that is used to take money out of your bank account using an ATM card.
  • Mobile banking: a banking service which allows customer to conduct transactions over the mobile phone.
  • Branch: a local office of the bank


Verbs related to banking

  • To borrow: take money on loan, intending to give it back after a period of time.
  • To deposit: to place money in a bank account
  • To lend: to pay back money
  • To take out a loan: to borrow money
  • To repay a loan: to lend money
  • To withdraw: to take money out of the bank
  • To underwrite: to agree to give financial support and to be responsible for paying any costs if the bank fails

Sentence examples


I’m trying to take out $50,000 loan to start a new business.
You are not eligible to open a bank account.
I use a Spreadsheet Program to calculate mortgage payments.
Can I borrow $500 off you until next month?
You have to deposit $300 to open a bank account
The bank refused to lend him $50,000
I’ll withdraw £200 from ATM


Comments

Popular posts from this blog

List of irregular verbs

In English, verbs can be regular or irregular .   

Nouns

The simplest definition of a noun is that it is a word that refers to a person (such as John or teacher), thing (such as ball or table), place (such as Harvard or university) or idea (such as love or emotion). What is a Noun? Countable and Uncountable noun It's important to identify between countable and uncountable nouns in English.  Common Nouns and Proper Nouns Names of people, places and things are called proper nouns. They always begin with capital letters. All other nouns are common nouns.  Collective Nouns Words such as family, team or bunch are collective nouns. They can be used with either a singular or a plural verb. Abstract and Concrete Nouns If your five physical senses (sight, smell, hearing, taste, and touch) cannot detect something, it is an abstract noun.  Gender-specific nouns In some languages, nouns refer to specifically to males or females.  Compound Nouns A compound noun is a noun that consists of more than one word. Verbal

Colours in English

'What's your  favourite   colour ?', 'What  colour  are your eyes?' or 'What  colour  is the car?' - these are the most common questions about  colour  in English.  If you know the names of the  colours  in English, you will answer those questions .   Here is the list of the most common  colour :