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Specific English Vocabulary for Banking & Finance: 02
Specific English
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Banks & Finance English
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Financial English terminology
Test your financial terminology
Bank Statement:
A record of all transactions in a bank account over a given period.
Debit Card:
A card that allows customers to withdraw money from their bank account.
Overdraft:
A negative balance in a bank account caused by withdrawing more money than available.
Wire Transfer or bank transfer:
Transferring money from one bank account to another.
Interest:
The cost of borrowing money or the return on an investment.
Loan:
Money borrowed from a lender that must be repaid with interest over time.
Federal Reserve:
The central bank of the United States.
To improve your banking and finance knowledge and English vocabulary.
Here are 5 banking-related words and definitions:
Interest:
The cost of borrowing money or the return on an investment.
Loan: A sum of money borrowed from a lender that must be repaid with interest over time.
Mortgage:
A loan used to purchase a home or other real estate.
Overdraft:
A negative balance in a checking account caused by withdrawing more money than is available. Banks may charge fees for overdrafts.
Savings Account:
A bank account that earns interest on deposited funds. It is used for saving money rather than making transactions.
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