Business Word/Phrase of the Day

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A RECEIPT /rɪˈsit/

23 Dec 2019


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


22 Dec 2019


  • to exchange a paper cheque for money.
Example Sentence: Ms Jones cashed a cheque she had received from selling her investments.


21 Dec 2019


  • to sign the cheque on the back.
Example Sentence: She endorsed the back of the cheque in order to cash it.

A TELLER /tɛlər/

20 Dec 2019


  • the person in the bank who takes deposits and withdrawals inside the bank.
Example Sentence: Several tellers were busy helping bank customers in the lobby.

TO WITHDRAW /wɪðˈdrɔ/

19 Dec 2019


  • to take money out of an account. Also, withdrawal is the noun form.
Example Sentences: He withdrew enough money to pay off his loan.
Ms. Lowell made a withdrawal of $175.

TO DEPOSIT /dɪˈpɒzɪt/

18 Dec 2019


  • to put money in a bank. Also, deposit is the noun form.
Example Sentence: Mr Sims opened his account with a deposit of $2,000 and his wife deposited $500.

TO AUTHORIZE /ɔθəˌraɪz/

17 Dec 2019


  • to permit.
Example Sentence: By signing his name, he authorized the bank to take money out of his account.

A SIGNATURE /sɪgnətʃər/

16 Dec 2019


  • your name, written by hand. "To sign" means to write your name.
Example Sentence: His signature was required to open an account.

A TRANSACTION /trænˈsækʃən/

15 Dec 2019


  • a business action such as putting money into an account or taking it out.
Example Sentence: There have been several transactions on the account since last month.

BREAK INTO /breɪk ɪntʊ/

14 Dec 2019

Phrasal Verb

  • to start to use money that you have saved.
Example Sentence: I broke into my savings to buy a beautiful diamond engagement ring for my girlfriend.

DIP INTO /dɪp ɪntʊ/

13 Dec 2019

Phrasal Verb

  • to spend part of your saved money.
Example Sentence: I've had to dip into my savings to pay for the repairs to the apartment.

PUT ASIDE /pʊt əˈsaɪd/

12 Dec 2019

Phrasal Verb

  • to save money for a specific purpose.
Example Sentence: I put aside a little every month for a deposit on a house.

SAVE UP /seɪv ʌp/

11 Dec 2019

Phrasal Verb

  • to keep money for a large expense in the future.
Example Sentence: It took me ages to save up enough money to go travelling.

PAY OFF peɪ ɒf

10 Dec 2019


  • to succeed, to yield good results.
Example Sentence: I hope that our plans for the new business will pay off.

PAY BACK /peɪ bæk/

09 Dec 2019

Phrasal Verb

  • to return money owed to someone.
Example Sentence: Can you lend me $50? I'll pay you back tomorrow.