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Banking and Finance

A TRANSACTION /trænˈsækʃən/

29 Mar 2022

Noun

  • 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.
 

BANK INTEREST RATE  

22 Mar 2022

Noun

  • A bank's interest rate is the amount that the bank charges on money that it lends you.
Example Sentence: My bank's interest rate on mortgages currently stands at 4.75%; its interest rate on savings is just 1.3%.
 

BOND bɒnd

09 Jan 2022

Noun

  • Certificate issued by companies and governments to its lenders.
Example Sentences: Bonds are considered a safe investment as they are guaranteed by governments.
 

STANDING ORDER /stændɪŋ ɔrdər/

29 Dec 2021

Noun

  • A standing order is an instruction to a bank to pay some money at regular times to another bank account.
Example Sentence: The electricity company requires all its customers to settle their bills by standing order.
 

INSUFFICIENT FUNDS /ɪnsəˈfɪʃənt fʌnd/

19 Dec 2021

Adj

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

LIABILITIES laɪəˈbɪlɪti

16 Dec 2021

Noun

  • The debts and obligations of a company or an individual.
Example Sentences: The business has liabilities of $2 million.
If our liabilities increase further, we'll have to consider closing down the company.
 

NET WORTH nɛt wɜrθ

15 Dec 2021

Noun

  • the money value after liabilities (debts) are subtracted from assets.
Example Sentence: I owe $31,000 and have assets worth $87,000 so my net worth is $56,000.
 

STONE BROKE /stoʊni broʊk/

06 Jan 2020

Phrase

  • If you are stone broke, you are completely without money.
Example Sentences: Don't ask Jim to lend you any money; he's stone broke.
 

LETTER OF CREDIT  

06 Jun 2014

Noun

  • a letter from a bank that guarantees a payment to a specified person.
Example Sentence: The seller requires a letter of credit to secure payment.
 
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