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Modified over 6 years ago
Banking products and operations
withdrawal A withdrawal in a bank / withdraw money = to take money out of a bank account
deposit = To put money on a bank account
Current account = Bank account from which money may be drawn at any time
savings account/ deposit account = Bank account on which interest is paid
Fixed term deposit = Deposit of which the interest rate is fixed for a certain period of time
Standing order To pay bills by standing order = An instruction to a bank to make regular payments
To check the balance = To check the difference between credits and debits in an account
To check transactions
Balance enquiry = To check/to consult a balance
Bank loan = Money lent by a bank, that must be repaid with interest
Revolving credit account
mortgage = Secured loan where property is used as security for the payment of the debt
Credit card = Bank card authorising the purchasing of goods on credit
Debit card = Bank card with direct access to a card holder’s account, used to withdraw cash from an ATM or to make purchases at merchant locations
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