| A | B |
|---|
| accept | v. to receive; to respond favorably |
| balance | n. the remainder // v. to compute the difference between credits and debits of an account |
| borrow | v. to use someone else's property (or money) temporarily (and then give it back) |
| cautiously | adv. carefully, warily; with caution |
| deduct | v. to take away from a total; to subtract |
| dividend | n. a share in a distribution; a distribution from the net profits of a company to its shareholders |
| down payment | n. an initial partial payment |
| mortgage | n. the amount due on a property (a loan to buy a house) // v. to borrow money with your house as collateral |
| restricted | adj. limited |
| signature | n. the name of a person written by the person |
| take out | v. to withdraw; to remove |
| transaction | n. a business deal |
| loan | n. a sum of money lent at interest (I need a loan to buy a car. I need a car loan.) // v. to lend money (or something else) (We are going to loan you $10,000 to buy the equipment for your business. The bank loaned me the money to buy some new kitchen appliances. Could you loan me your pen?) |
| ATM | n. automatic (automated) teller machine = the machine in the wall of a bank or a freestanding machine at the bank where you withdraw money (I am going to the ATM to get some money out. The ATM ate my debit card. At the ATM, I can check my balance and withdraw money.) |
| to cash a check | v. to receive money for a check (at the bank) (My father gave me a check for $200, so I went to the bank to cash the check. I got $200 in exchange for the check.) |
| to deposit a check | v. to put a check into the bank account (Jane deposited checks worth $500 into her bank account. She will have to wait 2 days for the checks to clear before she can withdraw the money.) |
| withdraw | v. to take out (of the bank) (I withdrew $500 from the ATM so that I could pay the babysitter in cash.) |
| withdrawal | n. taking out money (I made a withdrawal of $100 yesterday, and I've already spent it. You are allowed to make 10 cash withdrawals a month without incurring any fees.) |
| to clear (a check) | v. to pass a check through a clearing house. (I put a check in the bank. The bank sends it to the clearing house to be cleared through the bank account of the check writer and be deposited into my account. Has the check cleared yet? Yes, it has cleared, so you can withdraw the money now. It doesn't take as long for checks to clear now as the banking system is digitalized. Before, we had to wait a week for the checks to clear.) |
| savings account / checking account | n. savings account = a bank account used for saving money (We transfer $500 a month to our Savings Account in order to save for our summer holidays.) // n. checking account = a bank account used for everyday banking such as paying bills and withdrawing money (We use our checking account to pay the bills and to use our debit card for everyday expenses such as gas (petrol) and groceries (food shopping).) |
