Vocab English 2 (Reading) pps

Theme 1: Banking and Finance

balance / 'bæləns /

1. [countable] the amount of money that you have in your bank account

 My bank balance isn't very healthy.

2. [countable] the balance of a debt is the amount of money that you still owe after you have paid

some of it

 The balance is due at the end of the month.

bureau de change noun / bjʊərəʊ də'ʆɒndʒ / plural a shop where you can change foreign

money

checking account [countable] a bank account that you can take money out of at any time,

and for which you are given checks to use to pay for things

savings account noun [countable] a bank account in which you keep money that you want to

save for a period of time, and which pays you interest on the money you have in it

debit card noun [countable] a plastic card with your signature on that you can use to pay for

things. The money is taken directly from your bank account

credit card noun [countable] a small plastic card that you use to buy goods or services and pay

for them later

 We accept all major credit cards.

denomination noun / dɪnɒmɪ'neɪʆən / [countable] the value shown on a coin, paper money,

or a stamp

deposit noun / dɪ'pɒzɪt / [countable]

1. a part of the cost of something you are buying that you pay some time before you pay the rest of

it

• a deposit of/ put down a deposit (on something)

 A deposit of 10% is required.

 We put down a deposit on a house last week.

 We ask for one month's rent in advance, plus a deposit of $500.

2. an amount of money that is paid into a bank account ￚ opposite withdrawal

• deposit into

 I'd like to make a deposit (=pay some money) into my savings account.

1

ceiling noun / 'siːlɪŋ / [countable] the largest number or amount of something that is officially

allowed

• ceiling of

• impose/set/put a ceiling (on something)

• raise/lower the ceiling (on something)

 a public spending ceiling of £240 billion

 The government imposed a ceiling on imports of foreign cars.

direct debit noun [uncountable and countable] an instruction you give your bank to pay money

directly out of your account regularly to a particular person or organization

interest rate noun [countable] the percentage amount charged by a bank etc when you

borrow money or paid to you by a bank when you keep money in an account there

loan noun / ləʊn / [countable] an amount of money that you borrow from a bank etc

• a loan of

 a loan of £60,000

 I had to take out a loan to buy my car.

 It'll be years before we've paid off the loan.

 The organization was allowed to make loans to private businesses.

 An interest-free loan fund is available for students who find themselves in unforeseen

financial difficulty.

 They were unable to keep up with their loan repayments.

mortgage noun / 'mɔːgɪdʒ/ [countable] a legal arrangement by which you borrow money from

a bank or similar organization in order to buy a house, and pay back the money over a period of

years

 They've taken out a 30 year mortgage (=they will pay for their house over a period of 30

years).

 We decided to use Fred's redundancy money to pay off the mortgage.

 Mortgage rates are set to rise again in the spring.

 She was having trouble meeting her mortgage payments.

mortgage verb [transitive] if you mortgage your home, land, or property, you borrow money,

usually from a bank, and if you cannot pay back the money within a particular period of time, the

bank has the right to sell your property in order to get the money you owe it

 We mortgaged our house to start Paul's business.

overdraft noun / 'əʊvədrɑːft / [countable] the amount of money you owe to a bank when you

have spent more money than you had in your account

2