Money vocab

Account:           n. a record of money a person deposits into a bank

Balance:            n. the difference between credits and debits in an account

Bank:                 n. a building in which commercial banking is transacted.

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

Banker’s draft: n. a cheque drawn on the bank (or building society) itself against either a cash deposit or funds taken directly from your own bank account.

Barter:               v. to trade without using money.

Borrow:             v. to ask for the temporary use of money on the condition of repayment and at a set rate of interest.

Branch:             n. local office or bureau of a bank

building society  s. A building society is like a bank, but it is owned by its members - savers and borrowers - and not by shareholders. Its traditional purpose was to lend money to individuals to purchase or remortgage their homes. This money used to come exclusively from individual saving members who are paid interest on their deposits. Now, an increasing proportion, but still minorities of the funds are raised on the commercial money markets.

Cash flow          n. cash earnings minus cash outflows for fixed- and working-capital investment

 

Cashier            n. an employee of a bank or building society who receives and pays out money.

Cheque book: n. book containing detachable cheques

 

Cheque           n. written order to a bank to pay the stated sum from one's account

Counterfeit:   n. fake money made in order to deceive - also v

Credit              n. money in a bank a/c; sum added to a bank a/c; money lent by a bank – alsov

Credit card     n. (Plastic) card from a bank authorising the purchasing of goods on credit

Currency:        n. money that is used by a country such as the United Kingdom.