Banking
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Important Vocabulary

  • Overdraft: An arrangement by which a customer can withdraw more from a bank account than has been deposited in it, up to an agreed limit; interest on the debt is calculated daily
  • Credit card: A card that guarantees payment for goods and services purchased by the cardholder, who pays back the bank or finance company at a later date
  • Cash dispenser or ATM: A computerized machine that allows bank customers to withdraw money, check their balance, and so on
  • Loan: A fixed sum of money on which interest is paid, lent for a fixed period, and usually for a specific purpose
  • Standing order or direct debit: An instruction to a bank to pay fixed sums of money to certain people or organizations at stated times
  • Mortgage: A loan, usually to buy property, which serves as a security for the loan
  • Cash card: A plastic card issued to bank customers for use in cash dispensers
  • Home banking: Doing banking transactions by telephone or from one’s own personal computer
  • Current account or checking account: One that generally pays little or no interest, but allows the holder to withdraw his/her cash without any restrictions
  • Deposit account or time or notice account: One that pays interest, but usually cannot be used for paying cheques or checks, and on which notice is often required to withdraw the money
  • Deposit: To place money in a bank; or money placed in a bank
  • Foreign currency: The money used in countries other than one’s own
  • Yield: How much money a loan pays, expressed as a percentage
  • Liquidity: Available cash, and how easily other assets can be turned into cash
  • Maturity: The date when a loan becomes repayable
  • Underwrite: To guarantee to buy off all new shares that a company issues, if they cannot be sold to the public
  • Takeover: When a company buys or acquires another one
  • Merger: When a company combines with another one
  • Stockbroking: Buying and selling stocks or shares for clients
  • Portfolio management: Taking care of all a client’s investments
  • Deregulation: The ending or relaxing of legal restrictions
  • Conglomerate: A group of companies, operating in different fields, that have joined together
  • Blue-chip: A company considered to be without risk
  • Solvency: Ability to pay liabilities when they become due
  • Collateral: Anything that acts as a security or guarantee for a loan

 

Matching up the Verbs and Nouns to Make Common Allocations

  • charge – interest
  • do – business
  • exchange – currencies
  • issue – bonds
  • make – profits
  • offer – advice
  • pay – loans
  • raise – funds
  • receive – deposits
  • underwrite – security issues


Extracted From

MacKenzie, I. (2002). English for Business Studies: A course for Business Studies and Economics students (2nd ed.). Cambridge University Press.

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