Do you know banking & money vocabulary?
When banking and dealing with financial issues, we tend to use certain key phrases and words
Using English at the bank can be a daunting prospect for some EFL students due to the specific vocabularyneeded
Knowing some basic banking and money vocabulary will help in many situations, not only when dealing with banking and financial issues
Finance Vocabulary Associated with Banking and Saving
Banking Bank account, checking account, deposit account, savings account Insurance, travel insurance, life insurance Mortgage, loan, debt Tax, VAT (value added tax), gross income, net income Bank manager, bank clerk, teller Saving Savings account, ISA, investment, bond Pension, pension plan, Interest rate, gross interest, net interest, AER, tax fre.
What is the role of a bank in our daily life?
The bank is involved in our daily lives, whether it’s for the management of our money or for the financial support it can provide us
Generally, banks play akey rolein the stability and functioning of the financial system, and are under significant state surveillance
The Most Common Money Vocabulary Words Word Definition Banknote
Who regulates the monetary system?
The central bank of the United States
The Fed, as it is commonly called, regulates the U
S monetary and financial system
The Federal Reserve System is composed of a central governmental agency in Washington, D
C
(the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States
