Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Unit 2A
Unit 2A - The Language of Banking (TOLES)
| Term | Definition |
|---|---|
| an applicant | a person who wants to ask for something like a job or a bank account |
| an ATM machine/the ATM network | the machines that give money to bank customers (Automated Telling Machines). In the UK an ATM is called a cashpoint. |
| an automated payment | a payment that your back will make every week or every month without needing your permission to do it each time. |
| straightforwards | simple and easy to understand. |
| subject to status | depending on your age or how much money you have, for example. |
| chip and PIN | the system of security for using cards which contain a microchip. You have to put your card into a machine and then enter your secret Personal Identification Number (PIN) |
| to validate something | to make something legally acceptable. |
| account manager | is the business representative with whom a client has the most one-on-one interaction within a company. Companies use account managers to ensure that customers feel that their needs are being met. |
| business account | a bank account or type of bank account used for business transactions rather than personal ones. |
| savings account | is an interest-bearing deposit account held at a bank or other financial institution. |
| interest rates | is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed. |
| credit card | a small plastic card issued by a bank, building society, etc., allowing the holder to purchase goods or services on credit. |
| credit history | a credit history is a record of a borrower's responsible repayment of debts. |
| defaulted on loans | means that you have failed to make sufficient payments for an extended period. |
| identity theft | occurs when someone uses another person's personal identifying information, like their name, identifying number, or credit card number, without their permission, to commit fraud or other crimes. |
| receipts | a written acknowledgment of having received, or taken into one's possession, a specified amount of money, goods, etc. |
| arrears | means money that someone owe to someone and they promised to pay it back by a certain date but didn’t. It means your are not paying back your debt on the agreed date. |
| to accrue | means to grow or accumulate. We use the word accrue to talk about accumulating interest. In our example, if Harry did not pay his monthly instalments in February or March he now has arrears of £200. Interest is accruing on the arrears at a rate of 15%. |
| account | a record or statement of financial expenditure and receipts relating to a particular period or purpose. |
| applicant | a person who makes a formal application for something, especially a job |
| apply | make a formal application or request. |
| approve a loan | loan approval - formal authorization to get a loan (usually from a bank) empowerment, authorisation, authorization - the act of conferring legality or sanction or formal warrant. |
| arrears | money that is owed and should have been paid earlier. |
| ATM | automated teller machine, is a specialized computer that makes it convenient to manage a bank account holder's funds |
| authorise | give official permission for or approval to (an undertaking or agent). |
| automated payment | an automatic payment is an arrangement with a creditor that allows the creditor to periodically withdraw money from a credit card, checking or savings account to pay a bill. |
| balance | a figure representing the difference between credits and debits in an account; the amount of money held in an account. |
| bank account | an arrangement made with a bank whereby one may deposit and withdraw money and in some cases be paid interest. |
| bank statement | a printed record of the balance in a bank account and the amounts that have been paid into it and withdrawn from it, issued periodically to the holder of the account. |
| bank transfer | the sending of money from one bank account to another, usually electronically |
| bill | an amount of money owed for goods supplied or services rendered, set out in a printed or written statement of charges. |
| in the black | means the accounts have enough money, so you're fine (for now). |
| borrow | take and use (something that belongs to someone else) with the intention of returning it. |
| borrower | a person or organization that takes and uses something belonging to someone else with the intention of returning it. |
| branch | a part of a tree which grows out from the trunk or from a bough. |
| business account | means an Account used primarily for business purposes and not for personal, family, or household purposes. |
| cancel | decide or announce that (a planned event) will not take place. |
| charges | covers all charges and fees made by a bank to their customers |
| cheque | is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. |
| chip and PIN | refers to the microchip found in credit card that is used in conjunction with a confidential PIN (Personal Identification Number) code known only by the cardholder in order to validate use of the card to make a payment. |
| competitive | as good as or better than others of a comparable nature. |
| a credit | the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future. |
| credit check | is something a lender, bank, or service provider performs when they need to check your financial history. |
| credit history | is the record of how a person has managed his or her credit in the past, including total debt load, number of credit lines, and timeliness of payment. |
| currency | a system of money in general use in a particular country. |
| current account | is a personal bank account which you can take money out of at any time using your cheque book or cash card |
| debit | an entry recording an amount owed, listed on the left-hand side or column of an account |
| debit card | a card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase. |
| debt | something, typically money, that is owed or due. |
| default | failure to fulfil an obligation, especially to repay a loan or appear in a court of law. |
| deposit | a sum of money placed or kept in a bank account, usually to gain interest. |
| disclose | make (secret or new information) known. |
| eligible | having the right to do or obtain something; satisfying the appropriate conditions. |
| enclose | or "enclosing" means surrounding part example: Enclose an electronic version of the original proposal compiled in Portable Document Format (.pdf) on a CD, DVD or USB flash drive. |
| fee | a payment made to a professional person or to a professional or public body in exchange for advice or services. |
| identity theft | the fraudulent acquisition and use of a person's private identifying information, usually for financial gain. |
| income | money received, especially on a regular basis, for work or through investments. |
| instalments | a sum of money due as one of several equal payments for something, spread over an agreed period of time. |
| interest | is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. |
| interest rate | is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed. |
| internet banking | a method of banking in which transactions are conducted electronically via the internet. "the payment can be made through internet banking" |
| issue | the action of supplying or distributing an item for use, sale, or official purposes. |
| lend | grant to (someone) the use of (something) on the understanding that it shall be returned. |
| lender | an organization or person that lends money. |
| loan | a thing that is borrowed, especially a sum of money that is expected to be paid back with interest. |
| loan rate | the interest rate is applied to the principal, which is the amount of the loan. |
| letters and packages conveyed by the postal system. | |
| marital status | a person's state of being single, married, separated, divorced, or widowed. |
| notify | inform (someone) of something, typically in a formal or official manner. |
| open an account | to start an account at a bank or other financial organization by putting money into it |
| outgoings | are the regular amounts of money which you have to spend every week or every month, for example in order to pay your rent or bills. |
| overdraft | a deficit in a bank account caused by drawing more money than the account holds. |
| owe | have an obligation to pay or repay (something, especially money) in return for something received. |
| pay | give (someone) money that is due for work done, goods received, or a debt incurred. |
| PIN number | A personal identification number, or PIN, is a string of at least four digits used to unlock a bank account or card to which it has been assigned. |
| process | a series of actions or steps taken in order to achieve a particular end. |
| property (house) | anything that is owned by a person or entity. two types: "real property" which is any interest in land, real estate, growing plants or the improvements on it, and "personal property" (sometimes called "personalty") which is everything else. |
| queue | a line or sequence of people or vehicles awaiting their turn to be attended to or to proceed. |
| receipt | the action of receiving something or the fact of its being received. example: I would be grateful if you would acknowledge receipt of this letter mark (a bill) as paid. example: one copy can be receipted and returned to you |
| in the red | spending and owing more money than is being earned // Apparently the company had been in the red for some time before it went out of business. |
| repay | to pay back // repay a loan |
| savings account | an account (as in a bank) on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form // She opened a savings account. |
| security | protection; assurance; indemnification. The term security is usually applied to a deposit, lien, or mortgage voluntarily given by a debtor to a creditor to guarantee payment of a debt. |
| statement | evidence, statement is a verbal assertion or nonverbal conduct intended as an assertion. It also refers to a formal and exact presentation of facts. |
| subject to | “subject to” looks ahead to the exception. It is used in a clause that is secondary to the clause it is expressed to be “subject to”. It tells the reader which clause takes priority where there is an overlap. |
| sum | a specific amount stated in a contract or negotiable instrument (like a promissory note) at the time the document is written. |
| telephone banking | a facility enabling customers to make use of banking services, such as oral payment instructions, account movements, raising loans, etc, over the telephone rather than by personal visit. |
| transfer | a transfer involves the movement of assets, monetary funds, and/or ownership rights from one account to another. |
| validate | to validate is to prove that something is based on truth or fact, or is acceptable. It can also mean to make something, like a contract, legal. You may need someone to validate your feelings, which means that you want to hear, “No, you're not crazy. |
| withdraw | the removal of money from a bank account. |
| to open an account with a bank | <with!> |
| to be eligible for something | <for!> |
| to make a withdrawal from a bank account | <to make!>, <from!> |
| to be covered by an insurance policy | <covered!>, <by!> |
| to make a telephone call from a certain number or place | <to make!> |
| to have a decision within a certain period | <within!> |
| to go into the red | <to go!>, <into!> |
| to open a bank account | <to open!> |
| to cover your legal costs | <to cover!> |
| loan rate(s) | the legal rate of interest is the highest rate of interest that can be legally charged on any type of debt. |
| to withdraw money from a bank account | <to withdraw!> |
| to consolidate your debts | debt consolidation refers to the act of taking out a new loan to pay off other liabilities and consumer debts. |
| a loan application | Loan Application means a completed application for the applicable Mortgage Loan in its final form, signed by all applicable Borrowers, and which is in compliance with all applicable Laws. |
| a range of services | means, without limitation, coordinated in-home care management, wellness programs, health assessments, health information and referral, home safety evaluation, homemaker services, assistance with activities of daily living |
| to make an application for something | <to make!>, <for!> |
| inform | give (someone) facts or information; tell. with object ‘he wrote to her, informing her of the situation’ |
| cancel | to cross out, annul, destroy, void and/or rescind a document |
| suspend | temporarily prevent from continuing or being in force or effect. |
| deems | suppose |
| comply | 1 : to conform, submit, or adapt (as to a regulation or to another's wishes) as required or requested comply with federal law the devices comply with industry standards. 2 obsolete : to be ceremoniously courteous. |
| render | to transmit to another to furnish for consideration, approval, or information: such as to hand down (a legal judgment) to agree on and report (a verdict) |
| attribute | a quality, character, or characteristic ascribed to someone or something has leadership attributes an object closely associated with or belonging to a specific person, thing, or office a word ascribing a quality |
| authorise | to empower another with the legal right to perform an action. |
| disclose | to open up to make known or public |
| process | is the general term for the legal document by which a lawsuit is started and the court asserts its jurisdiction over the parties and the controversy |
| to hold an account with a bank | <to hold!>, <with!> |
| to render something invalid | <something!> |
| to take steps to do something | <to take!> |
| a combination of two or more things | <combination!> |
| information that is known to a person | <to!> |
| to be registered as a particular company name | <to be!>, <as!> |
| to behave in accordance with something | <in accordance!>, <with!> |
| to be authorized by someone to do something | <to be!>, <authorised!> |
| to be liable for something | <to be!>, <for!> |
| under the circumstances | <under!> |
| to attribute something to someone | <to!> |
| interest accrues on a debt or loan | <on!> |
| fallen into arrears | <into!> |
| in the red | means the account has no money, so colloquially it means you're in an unsafe or unstable situation. |
Created by:
bactra
Popular Law sets