Banking Expressions in English

Banking vocabulary

• Automatic deposit- A bank service that allows employers to deposit employees wages directly into the employees bank accounts.
• Saving account- Money put in the bank for long term saving
• Checking account- Money put in the bank to be taken out periodically for purchases or bills
• Loans- Money given to you by the bank which you pay back over time
• Collateral- Something of value as a guarantee for a loan
• Interest- Charges for using the banks money or money given to depositors for the use of their money by the bank
• Check- An instrument issued by banks to its customers that allow them to make purchases instead of using cash.
• Mortgage- A loan for a house
• Deposit- Put money into the bank account
• Withdrawal- Money taken out of the bank account
• Teller- A bank clerk
• Deposit/withdrawal slips- Forms that are filled out when depositing or withdrawing money
• Bank guarantee card- A bank card that assures payees that a check is good
• Monthly statement- A financial listing of your banking activities (money deposited and withdrawn and interest charged or accrued)
• Open an account- To start a bank account
• Close an account- To end an account
• Travelers check- A prepaid check used by tourists issued by a bank that can be cashed in banks or businesses world wide.