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English for Banking and Finance: 100+ Essential Banking Voc

english for banking and finance

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More and more people have become interested in vocational English, in general, and in English for banking and finance in particular. What is English for finance and banking? What are common banking terms?

As a whole, English for Banking and finance refers to the English used in the context of banking and finance.

In this post, we’ll list a variety of common financial English vocabulary. Specifically, this post will definitely help you learn the most common and important English for banking vocabulary.

What are Banking Words?

Banking words are the vocabulary words and expressions or phrases used at the bank. Banking terms are useful for working in the fianance and banking sector.

At the Bank Vocabulary ESL

Here is a list of words associated with banking:

  • Safe:

a strong fireproof safe used to hold the bank’s cash supply and negotiable documents.

  • Safe deposit box (= safety deposit box):

a metal box for storing valuable things, usually kept in a special room at a bank.

  • Coupon booth

a small closed cubicle used by a customer to open a safe deposit box.

  • Vault

a reinforced fireproof room containing the bank safe and the safe-deposit boxes; access to it is tightly controlled.

  • ATM (Automated Teller Machine)

a machine where customers use a credit card to carry ou various banking operations such as withdrawals, transfers, deposits, and bill payments.

  • Cash supply

a room where bank staff replenish the automatic teller machines and collects deposits and bills.

  • Information desk

kiosk where customers can obtain information about banking services.

  • Financial services

offices where bank staff meet with customers to discuss financial services like investments and mortgages.

  • Insurance services

offices where customers consult bank staff about insurance services for automobiles, homes, travel, etc.

  • Laon services

offices where customers meet bank staff to apply for a loan.

  • Information desk

a kiosk or office where customers get information about the different banking services.

  • Customer service

an office where bank staff meets with customers to open bank accounts, issue debit cards, give out forms, etc.

  • Professional training office

a room where the bank employees are provided with training.

  • Meeting room

a room where small groups hold meetings and discussions.

  • Waiting area

space reserved for customers who wait for an appointment in a particular department.

  • Lobby

the bank’s entrance area.

  • Reception desk

an area in which customers are met.

  • Photocopier

a machine for reprography.

  • Brochure rack

a rack used to display flyers and brochures containing information on services offered by the bank.

  • Cloakroom

space designated for storing clothes, umbrellas, hats, and so on and so forth.

  • Janitor’s closet

a room used for storing cleaning products and housekeeping supplies.

  • Cash

money in the form of banknotes (= bills) or coins.

More banking terminology (banking terms)

english for banking and finance
English for banking and finance: Banking vocabulary words with meaning
  • Gross Profit

Profit before paying taxes.

  • Petty cash

a small amount of money reserved for small, office-related expenditures.

  • Deposit

the act of putting money into a bank account.

  • Direct deposit

the system of paying someone’s salaries straight into their bank account.

  • Withdrawal

the act of taking a sum of money out of your bank account.

  • Savings account

a bank account that offers interest but limits withdrawals.

  • Internet banking

also known as online banking or web banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the bank’s website.

Internet banking is also known as e-banking.

  • Mobile banking

refers to a service that a bank or a financial institution provides. It allows customers to conduct financial transactions using a mobile device like a smartphone.

  • Balance sheet

a document that shows a company’s finances.

  • Credit card

a payment card that you can use to buy services and goods and pay for them later.

  • Debit card

a payment card that can be used to take money directly from your bank account when you pay for something.

  • Cheque (check)

a slip of paper that provides payment.

  • Blank cheque

a cheque that is signed but does not have the amount of money to be paid written on it.

  • Chequebook (checkbook)

a book of printed cheques (checks).

  • Bank statement

a printed record of all the money that you pay into or out of your bank account within a particular period. Bank statements are usually sent to you by post.

  • Overdraft

an amount of money that a customer may spend beyond what is in his or her bank account.

  • Online banking

banking services that can be accessed through the internet.

Most common payment methods

Here are some methods of payment with definitions:

  • Cheque (check): a piece of paper that transfers money from your bank account to someone else’s account.
  • Credit card: a payment card that you can use to buy services and goods and pay for them later.
  • Debit card: a payment card that can be used to take money directly from your bank account when you pay for something.
  • Charge card: a small plastic card that a shop/store provides you with so that you can use to buy goods there and pay for them later.
  • Charge account ( credit account): an arrangement with a store/shop or business to pay bills for goods or services at a later time, for example in regular amounts every month.
  • Traveler’s check (Traveller’s cheque):  a check for a fixed amount that can be exchanged for foreign currency, or in some cases instead of cash
  • Online payment methods like Paypal, Google Pay, Apple Pay, Amazon Pay, American Express, Pasterpass, etc.

English for banking and finance: Phrasal verbs

Banking English is rich in phrasal verbs.

  • Back out of something

withdraw from something (= to decide that you are no longer going to take part in something

  • Put something down

pay part of the cost of something.

  • Run out of something

to finish or use up a supply of something.

  • Work something out


  • Go under

become bankrupt / collapse (become unable to pay what you owe).

  • Take something off something

reduce the price.

  • Take something over

to buy something (a company, a business…).

Extremely Important Financial English Vocabulary and Expressions

  • Strapped for cash

without enough money

  • Cash down (IDM)

with immediate payment of cash.

  • Cash on delivery (COD)

a system of paying for goods when they are delivered.

  • Marry money

(= marry a rich person)

  • Be in the money

to have a lot of money to spend.

  • Every penny

all the money

Here are a variety of expressions that can be used to describe rich people and poor people:

Expressions to describe the rich:

  • He is absolutely loaded.
  • They live in the lap of luxury.
  • She’s raking it at the moment.
  • He has got money to burn.
  • They are rolling in money.
  • He is a well-off businessman.
  • He is a well-to-do (= well-heeled) person.
  • She is a cashed-up investor.
  • He is made of money.

Expressions to describe poor people:

  • To be on the breadline (IDM)= To be very poor
  • I’m totally broke.
  • I have fallen on hard times.
  • We find it hard to make the ends meet.
  • We are very down at heel.
  • They don’t have two pennies to rub together.
  • My friend is very hard up.

Banking Expressions and Collocations List

  • Open a bank account
  • Close a bank account
  • Deposit money
  • Make a deposit
  • Transfer funds
  • Transfer money
  • Withdraw money

  • take out money
  • Pay a bill
  • Exchange currency
  • Bank teller
  • Insert the card
  • Enter your PIN
  • Overdraft protection
  • Internet banking
  • Electronic banking
  • Online banking
  • Mobile banking

  • Banking scandal
  • Bank fraud
  • Bank manager
  • Bank robber
  • Bank overdraft
  • bank profits
  • Regional bank
  • Banking services
  • Banking system
  • Banking sector

  • Banking industry
  • Banking crisis
  • Banking plan
  • Banking corporation
  • Banking family
  • Banking community
  • Banking business
  • Bank charges

  • Balance sheet
  • Financial health
  • Business planning
  • Go bankrupt
  • Payment system
  • Borrow money
  • Spend money
  • Save money
  • Make money

Banking Abbreviations (Banking Acronyms)

Here is a list of banking acronyms.

  • IBAN

International Bank Account Number

  • BIC

Bank Identifier Code

  • ATM

Automated Teller Machine

  • APR

Annual Percentage Rate (= the rate of interest per year)

  • APY

The annual Percentage Yield (APY is  the real rate of return earned on an investment)

International Monetary Fund

Learn English online with Englishdotcom. You might also like to check this lesson on money vocabulary.

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