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Specific English Vocabulary for Banking & Finance: 02



Specific English
Vocabulary Tests

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Precise vocabulary

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Banks & Finance English
Practice Test
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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