60 Bank-Related Words and their Meanings

60 Bank-Related Words and their Meanings

English Vocabulary

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Here are 60 bank-related words and their meanings:

  1. Account – A record of money held by the bank.
  2. Balance – The amount of money in your bank account.
  3. Deposit – Putting money into your bank account.
  4. Withdrawal – Taking money out of your bank account.
  5. ATM – A machine that lets you withdraw money from your account.
  6. Cheque – A written order to pay money from your account.
  7. Credit – Money added to your account, or a loan.
  8. Debit – Money taken from your account.
  9. Loan – Money borrowed from the bank that must be paid back.
  10. Interest – Extra money paid by the bank for keeping your money.
  11. Statement – A document showing all transactions in your account.
  12. Deposit Slip – A form used to deposit money into your account.
  13. Bank Fee – Money charged by the bank for services.
  14. Transfer – Moving money from one account to another.
  15. PIN – A secret number used to access your account at an ATM.
  16. Bank Branch – A local office of the bank.
  17. Online Banking – Banking services available over the internet.
  18. Loan Officer – A person who helps you get a loan.
  19. Mortgage – A loan used to buy a house.
  20. Overdraft – Spending more money than you have in your account.
  21. Savings Account – An account for saving money with interest.
  22. Checking Account – An account for day-to-day spending.
  23. Currency – Money used in a country, like dollars or euros.
  24. Vault – A safe place in the bank for storing money and valuables.
  25. Bank Card – A card used to access your bank account.
  26. Cheque Book – A book of cheques for paying bills.
  27. Wire Transfer – Sending money electronically from one bank to another.
  28. Foreign Exchange – Exchanging money from one currency to another.
  29. Loan Term – The length of time you have to repay a loan.
  30. Collateral – Property given as security for a loan.
  31. Invest – To put money into something to earn more money.
  32. Bankruptcy – When someone cannot pay their debts and asks the court for help.
  33. Credit Card – A card used to borrow money from the bank.
  34. Debit Card – A card used to spend money directly from your bank account.
  35. Cheque Clearing – The process of moving money from one account to another when a cheque is used.
  36. Financial Advisor – A person who gives advice on money and investments.
  37. Term Deposit – A type of deposit account where money is kept for a fixed time.
  38. Loan Repayment – Paying back the money you borrowed from a loan.
  39. Branch Manager – The person in charge of a bank branch.
  40. Transaction – An action involving the exchange of money.
  41. Fee Waiver – When the bank does not charge a fee for a service.
  42. Automatic Payment – A payment that happens automatically at regular intervals.
  43. Investment Fund – Money put together by different people to invest in companies.
  44. Balance Check – Checking how much money is in your account.
  45. Debit Interest – Interest charged when you owe money to the bank.
  46. Credit History – A record of how well you have paid back loans in the past.
  47. Financial Statement – A report of a person’s or company’s finances.
  48. Account Number – The unique number identifying your bank account.
  49. Bank Draft – A cheque guaranteed by the bank.
  50. Certified Cheque – A cheque guaranteed by the bank to be valid.
  51. Safe Deposit Box – A small safe in the bank where you can store valuables.
  52. Overdraft Protection – A service to avoid extra charges when you spend more than your account balance.
  53. Interest Rate – The percentage of money you earn or pay on your savings or loan.
  54. Payment Plan – A schedule for paying back a loan.
  55. Credit Score – A number that shows how good you are at paying back money.
  56. Direct Deposit – A payment directly into your bank account.
  57. Account Holder – A person who owns a bank account.
  58. Loan Agreement – A written document that explains the terms of a loan.
  59. Prepaid Card – A card you load with money before you use it.
  60. Banking Hours – The times when the bank is open for business.

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