Business English - Banking Vocabulary

Choose the best response for each blank:

1. I'd like to ______an account.

open

start

commence

2. You don't have any ______( = money) in your account.

funds

fun

funding

3. The bank ______my husband's credit card because he didn't pay his credit card bills.

reneged

retracted

cancelled

4. A document which shows all your withdrawals and deposits (usually for one month) is called a "bank ______"

stapler

statement

bill

5. What's another way to say "to withdraw"? ______.

to make out

to stake out

to take out

6. I'd like to ______some money to my other account.

transfer

change

switch

7. A cashier's check is a check that's ______by a bank.

guaranteed

guarantee

warrantee

8. Another way to say "debit card" is ______.

credit card

plastic card

bank card

9. Is there ______around here somewhere? ( = a cash machine)

an electronic machine

an ATM

a money machine

10. If you've lost your bank card you can ______for a new one.

apply/reapply

fill

11. The money you borrow from a bank is called a ______.

loaner

loan

lone

12. I have to ______another loan.

take out

go for

take in

13. If you'd like to buy a house, you will probably have to take out a ______.

statement

mortgage

marriage

14. A ______mortgage ensures that your interest rate will not change.

variable rate

fixed level

fixed rate

15. Your home may be ______if you don't keep up repayments on your mortgage.

retaken

repositioned

repossessed

16. Usually banks have two types of personal accounts - checking and ______.

savings

save

saver

17. You can ______paying account fees if you keep a minimum daily balance of $1000 on your account.

access

avoid

avert

18. What's the ______on my account? It's $4,500. ( = there's $4,500 in your account)

bail

money

balance

19. Usually, higher balances earn higher ______.

rates

cash

levels

20. This account offers easy access, no minimum balance and no monthly ______.

server fee

service fee

serve-me-fee

21. A high-yield account "yields" ( = pays) more ______than a normal account.

interesting

interim

interest

22. If your check "______", there was probably not enough money in your account to cover it.

binds

bounces

burns

23. Many banks currently offer their customers the opportunity to do their banking ______. ( = over the internet)

online

inline

web

24. A person's credit ______is a formal evaluation of his/her loan-repayment history or potential.

rating

level

rate

25. Informally, having a low credit-rating is referred to as having " ______".

good credit

insufficient funds

bad credit

26. A bank will not give you a loan unless you provide some kind of ______. ( = something of value as a guarantee of repayment)

collateral

collocation

promise

27. If your bank account goes into "overdraft", it means ______.

you owe the bank money

the bank owes you money

your balance is 0

28. A ______loan is a loan backed up with collateral.

security

secured

secular

29. ______a mortgage or other type of loan can lower the monthly payments owed on the loan.

Reworking

Redoing

Refinancing

30. I'm sorry, Mr. Cheung, but your check hasn't ______( = gone through) yet.

cleared

transferred

claimed

31. Do you have any ______debts? ( = debts that you have not paid off)

excellent

outstanding

outsourcing

32. You'll have to ______these forms. Once you do that, I'll give them to our bank manager for approval.

fill

filter

fill out

33. We'll ______your lost card. No problem.

replace

redo

remake

34. To ______money to someone's account means to transfer money into someone's account.

wave

waive

wire

35. We have to reset your ______number. ( = the secret code for your bank/ATM card)

pine

secret

36. I keep half of my savings in an account, and the other half in a ______at my bank.

safe-deposit box

safe-keeping box

safety box

37. A money market account is a combination checking and savings account, one in which your bank ______your deposited money for you.

investigates

invests

interests

38. Bankrate.com is a good place to check which banks and credit unions ______for various accounts.

offer the good deals

offer the best deals

provide you with best deals

39. Each account has different ______( = characteristics). You should decide which ______are most important for you.

qualities

figures

features

40. A ______bank account is one that you share with another person.

joined

together

joint

41. I think that a business account is more ______to your needs.

suit

suitable

seeable

42. One of the main duties of a financial ______is to offer a range of non-deposit investment products and services.

counselor

consultant

council

43. One of your responsibilities will be to ______( = put together) weekly and monthly financial reports for management.

compile

compromise

control

44. We closely monitor investment activity to ensure customers are receiving accurate investment ______. ( = advice)

commendations

compensation

recommendations

45. Please ______( = be patient with me). I'm new to investing.

bear with me

think with me

bear me

46. This investment will yield a higher ______. ( = you will make more money with this investment)

return

cash

satisfaction

47. My financial consultant helped me with my ______planning.

retired

old-age

retirement

48. Investors with a ______portfolio have several (or more) different investments.

different

diversified

diverging

49. Let me ______your account to reflect the changes.

update

append

inspect

50. Asset ______involves dividing an investment portfolio among different asset categories, such as stocks, bonds, and cash.

allocation

collocation

information

51. In banking terms, someone's portfolio is a collection of their ______.

investments

investors

graphic design projects

52. ______investor is more likely to risk losing money in order to get better results.

A passive

A timid

An aggressive

53. What's the opposite of an aggressive investor? ______.

A concerned investor

A conservative investor

A cornered investor

54. ______the stock market can be risky, but it often yields higher returns than other investments.

Doing

Working

Playing

55. Proponents of diversification believe that you shouldn't put all your eggs ______.

in one basket

in one bag

in one backpack

56. A mutual fund is a form of ______investment that pools money from many investors and invests their money in stocks, bonds, and other securities etc.

collective

collected

collated

57. Whenever I ______( = notice) a trend, I let my clients know about it.

view

spot

sport

58. What are the ______risks associated with this approach?

money-losing

financial

financier

59. Last year's crisis sent financial markets into a ______. ( = they went down considerably)

tailspin

conundrum

crisis

60. He really turned this business ______= He really made a big difference/ improvement.

anew

along

around

61. A year after he arrived, he ______a deal to merge with a rival bank.

expressed

experienced

executed

62. He took a ______( = agreed to earn less money) to work here.

pay cut

salary increase

payback

63. In finance, a "write-down" refers to the process of reducing the book value of an asset because it is ______( = worth too much) compared to the market value.

overvalued

undervalued

valued

64. That bank did better than was expected last year because it took risks that it didn't fully ______( = let people know about).

discuss

disclose

65. Banks usually ______higher rates on long-term loans.

in charge

charge

provide

66. Great news! Our bank is now ______higher rates on certain savings and checking accounts.

charging

offering

practicing