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Banking Vocabulary

term meaning
balance n. the difference between credits and debits in an account
If you put money in your bank account, does the balance go up or down?
bank charges n. money paid to a bank for the bank's services etc
If I withdraw money from an ATM machine, I have to pay $2.50 in bank charges.
branch n. local office or bureau of a bank that customers can visit
Is there a branch of the National Bank near here?
checkbookUS n. book containing detachable checks; chequebookUK
If I had my checkbook, I'd pay by writing you a check.
checkUS n. written order to a bank to pay the stated sum from one's account; chequeUK
They promised to send me a check, but I didn't get it.
credit n. money in a bank a/c; sum added to a bank a/c; money lent by a bank - also v.
The bank gives her just enough credit to pay her bills.
credit card n. (plastic) card from a bank authorising the purchasing of goods on credit
When Kim realized she'd left her credit card in the ATM machine, she ran back to get it.
current account n. bank a/c from which money may be drawn at any time; checking accountUS
Current accounts are good for day-to-day purchases, but you don't get much interest.
debit n. a sum deducted from a bank account, as for a cheque - also v.
What was this debit in last month's expense account for?
deposit account n. bank a/c on which interest is paid; savings accountUS
What interest rate are you getting for your deposit account?
fill inUK v. to add written information to a document to make it complete; to fill outUS
Please fill in this application form before seeing the loans officer.
interest n. money paid for the use of money lent - interest rate n.
Why aren't banks paying as much interest as they used to?
loan n. money lent by a bank etc and that must be repaid with interest - also v.
You'll have to get a housing loan before buying a property.
online banking n. the management of a bank account over the internet - also e-banking
Grandma does her own online banking, from paying bills to checking her balance.
overdraft n. deficit in a bank account caused by withdrawing more money than is paid in
If there isn't enough in my account for a purchase, I get an automatic overdraft.
pay in v. [paid, paid] to deposit or put money in to a bank account
My salary gets paid in every month, and then I withdraw it as needed.
payee n. person to whom money is paid
When writing a check, make sure you spell the name of the payee correctly.
paying-in slip n. small document recording money that you pay in to a bank account
Do you keep all your paying-in slips?
standing order n. an instruction to a bank to make regular payments
Ask your bank if they'll pay the rent by standing order for you.
statement n. a record of transactions in a bank account
I do all my banking online now, so I don't get statements in the mail.
withdraw v. [-drew, -drawn] to take money out of a bank account - withdrawal n.
Before ATM machines, we took our passbooks to a bank to withdraw money.