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Business Word/Phrase of the Day

word-phrase-descEvery day we publish a business word or phrase together with audio pronunciation, phonetics, definition and example sentences. This is a great way to improve your workplace vocabulary as well as your pronunciation. To receive 'Business Word/Phrase of the Day' by email, just subscribe to our newsletter from the link above. 

NEST EGG /nɛst ɛg/

31 Jul 2024

Noun

  • A nest egg is a sum of money that has been saved or kept for a special purpose.
Example Sentence: Regular investment of small amounts of money is an excellent way of building a nest egg.
 

JOINT-VENTURE COMPANY  

30 Jul 2024

Noun

  • A joint-venture company is a company owned by two businesses which have joined together to share risk or expertise on a specific project or group of projects.
Example Sentence: In a bid to compete in the LED market, two Taiwanese companies from the mainstream silicon semiconductor business have established a joint-venture company.
 

LOAN SHARK /loʊn ʃɑrk/

29 Jul 2024

Phrase

  • A loan shark charges very large amounts for lending money to someone.
Example Sentence: The loan shark, Gary Mills, made his money by charging a massive 25% interest a week.
 

INTEREST /ɪntərɪst/

28 Jul 2024

Noun

  • the money a bank pays you for their use of your money, or the money you pay the bank for a loan.
Example Sentence: The interest rate on her savings account was higher than that on her checking account.
 

A STATEMENT /steɪtmənt/

27 Jul 2024

Noun

  • a record of transactions that a bank sends its customers, usually every month.
Example Sentence: The bank statement always arrived on the third of the month.
 

TO ISSUE A CREDIT CARD  

26 Jul 2024

Phrase

  • to give a credit card to a customer.
Example Sentence: The bank issues three kinds of credit cards.
 

SERVICE CHARGE OR BANK FEES  

25 Jul 2024

Noun

  • money that a customer pays a bank for an account or other services.
Example Sentence: There is no service charge if the account has a minimum balance of $1,500.
 

TO VERIFY /vɛrəˌfaɪ/

24 Jul 2024

Verb

  • to check or to make sure something is correct, like a signature or an amount of money.
Example Sentence: The teller verified his signature before giving him the money.
 

TO APPLY FOR A LOAN  

23 Jul 2024

Verb

  • to give the bank information and to ask for a loan.
Example Sentence: He applied for a car loan at his bank.
 

TO MAKE A PAYMENT  

22 Jul 2024

Verb

  • to pay.
Example Sentence: The loan requires the customer to make a payment every month.
 

INSUFFICIENT FUNDS /ɪnsəˈfɪʃənt fʌnd/

21 Jul 2024

Adj

  • not enough money in an account.
Example Sentences: The cheque was returned because of insufficient funds.
 

TO TRANSFER FUNDS  

20 Jul 2024

Verb

  • to move money from one account to another.
Example Sentence: He wanted to transfer funds from his savings account to his checking account.
 

TO DEBIT AN ACCOUNT  

19 Jul 2024

Verb

  • to record money subtracted from an account.
Example Sentence: His account was debited a $4.00 service charge.
 

TO CREDIT AN ACCOUNT  

18 Jul 2024

Verb

  • to record money added to an account.
Example Sentence: The teller credited his account with his deposit of $50.
 

A RECEIPT /rɪˈsit/

17 Jul 2024

Noun

  • the act of receiving or a written record of a transaction.
Example Sentence: The teller gave the customer a receipt for his deposit.
 
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