BANKING VOCABULARY

Here are twenty words and terms often used in banking .

Banking and banks are very important for the functioning of the modern world.
Without banks the way we use money would not work. Banks enable people to
save money, borrow money and to pay for things with ease and security.
Each country in the world has its own well-known banks that have branches in
nearly every city so that they are convenient for people to use. People often have
to visit the local branch of the bank when they want certain services. There are also
some very big multinational banks that have branches in most countries in the
world.
As well as the local branches that are in most cities, each bank will also have a
head office. This is where all central tasks are performed that let the local branches
function. The people that work in the branches will be the bank manager, the
person in charge, and various tellers who work behind the bank counter and help
the customers. There will also likely be security guards to protect the money,
workers and customers.
Most customers will just need to see the tellers when they go to the
bank if they are paying money into their account as either cash or a
check. However, they might need to see the bank manager if they want
to open an account or if they have become overdraw, when they have
spent more money than there was in the account. Also if they want to
borrow money and get a loan the person will need to see the bank
manager who will have to approve it.
As well as being able to use cash or checks to pay for things, banks
also offer their customers the more convenient methods of using either
a debit card or credit card. These methods are very convenient as you
just need to carry a small plastic card to be able to pay for anything.
When paying with plastic you will need to either sign a receipt or enter
a PIN number to conform the purchase and that you are authorized to
use the card.
1 balance n. the difference between credits and debits in an account

2 bank charges n. money paid to a bank for the bank's services etc

3 branch n. local office or bureau of a bank

4 checkbook n. book containing detachable checks; chequebook UK

5 check n. written order to a bank to pay the stated sum from one's account; cheque UK

6 credit n. money in a bank a/c; sum added to a bank a/c; money lent by a bank - also v.
 USEFUL VOCABULARY:
CUSTOMER:
1. (BANK) ACCOUNT
• Scenario 1: You want to know about
2. PERSONAL ACCOUNT
withdrawing money from an ATM 3. TO TAKE OUT (MONEY) = TO
• Scenario 2: You want to discuss about some WITHDRAW (MONEY)
4. BANK CLERK
charges that you see in your statement. 5. (MONEY) TRANSER
6. TO TRANSFER MONEY
AGENT: Verify your customers information 7. TO MAKE A TRANSFER
8. CREDIT CARD
prior accessing the account: 9. CASH MACHINE
10. ONLINE BANKING
 bank account 11. TO SAVE MONEY
12. SAVINGS ACCOUNT
 ID number 13. TO PAY THE BILLS
 Email address 14. TO SHOP ONLINE
 Phone number 15. PIN (PERSONAL IDENTIFICATION
NUMBER)
 Password 16. ONLINE SHOPPING
17. INTERNET ACCESS
•how much money to withdraw? 18. HACKERS
19. (ONLINE) PAYMENT
•give directions to cash machine (address)
20. PASSWORD
7 credit card n. (plastic) card from a bank authorising the purchasing of goods on credit

8 current n. bank a/c from which money may be drawn at any time; checking accountUS
account

9 debit n. a sum deducted from a bank account, as for a cheque - also v.

10 deposit n. bank a/c on which interest is paid; savings accountUS

account

11 fill inUK v. to add written information to a document to make it complete; to fill outUS

12 interest n. money paid for the use of money lent - interest rate n.
CUSTOMER:
• Scenario 1: You want to get a credit
card
• Scenario 2: you want to have a
checking/savings account opened.

AGENT: Verify your customers

information prior taking the
application:

 bank account
 ID number
 Email address
13 loan n. money lent by a bank etc and that must be repaid with interest - also v.

14 overdraft n. deficit in a bank account caused by withdrawing more money than is paid in

15 pay in v. [paid, paid] to deposit or put money in to a bank account

16 payee n. person to whom money is paid

17 paying-in slip n. small document recording money that you pay in to a bank account

18 standing order n. an instruction to a bank to make regular payments

19 statement n. a record of transactions in a bank account

20 withdraw v. [-drew, -drawn] to take money out of a bank account - withdrawal n.

 USEFUL VOCABULARY:
CUSTOMER:
• Scenario 1: You want to know why your bank is 1. (BANK) ACCOUNT
2. PERSONAL ACCOUNT
charging late fees to your account, you paid 3. TO TAKE OUT (MONEY) = TO
before your due date. WITHDRAW (MONEY)
• Scenario 2: You want to schedule automatic 4. BANK CLERK
5. (MONEY) TRANSFER
payments from your checking account to your 6. TO TRANSFER MONEY
personal loan. 7. TO MAKE A TRANSFER
8. CREDIT CARD
9. CASH MACHINE
AGENT: Verify your customers information 10. ONLINE BANKING
prior accessing the account: 11. TO SAVE MONEY
12. SAVINGS ACCOUNT
13. TO PAY THE BILLS
 bank account 14. TO SHOP ONLINE
 ID number 15. PIN (PERSONAL IDENTIFICATION
 Email address NUMBER)
16. ONLINE SHOPPING
 Phone number 17. INTERNET ACCESS
 Password 18. HACKERS
19. (ONLINE) PAYMENT
20. PASSWORD