MONEY

Useful Vocabulary

THE MAJOR CURRENCIES
$ = Dollar€ = Euro
us moneyeuro money
£ = Pound (Sterling)¥ = Yen
pound moneyyen money
WAYS OF PAYING
cash
cheque
credit card
cashcheque(s)credit (slang – plastic)
GENERAL MONEY VOCABULARY
bank
cash box
cash machine
bank(s)cash box(es)cash machine(s) / ATM(s)
cheque book
coin
note
cheque book(s)
coin(s)note(s)
History of the piggy bank
poor
purse
piggy bank(s)poorpurse(s)
rich
safe
till
richsafe(s)till(s)
wallet
wallet(s)

SoundPRONUNCIATION CLICK HERESound

Build Up A – Z of money terms

accountn. a record of money a person deposits into a bank
ATMn. Automatic Teller Machine aka Hole in the wall.
balancen. the difference between credits and debits in an account
bankn. a building in which commercial banking is transacted.
bank chargesn. money paid to a bank for the bank’s services etc
banker’s draftna cheque drawn on the bank (or building society) itself against either a cash deposit or funds taken directly from your own bank account.
barterv. to trade without using money.
borrowv. to ask for the temporary use of money on the condition of repayment and at a set rate of interest.
branchn. local office or bureau of a bank
building society
 
nA building society is like a bank, but it is owned by its members – savers and borrowers – and not by shareholders. Its traditional purpose was to lend money to individuals to purchase or remortgage their homes. This money used to come exclusively from individual saving members who are paid interest on their deposits. Now, an increasing proportion, but still a minority of the funds are raised on the commercial money markets.
cashflown. cash earnings minus cash outflows for fixed- and working-capital investment.
cashiern. an employee of a bank or building society who receives and pays out money.
chequebookn. book containing detachable cheques
chequen. written order to a bank to pay the stated sum from one’s account
counterfeitn. fake money made in order to deceive – also v.
creditn. money in a bank a/c; sum added to a bank a/c; money lent by a bank – also v.
credit cardn. (plastic) card from a bank authorising the purchasing of goods on credit
currencyn. money that is used by a country such as the United Kingdom.
current accountn. bank a/c from which money may be drawn at any time; checking account US
debitn. a sum deducted from a bank account, as for a cheque – also v.
debit cardn. you use a debit card in much the same way as a credit card but instead of receiving credit after making your purchase, the funds are automatically (within a few days usually) withdrawn from your bank account.
debtn. the state of owing something (especially money).
denominationn. a number that expresses the value of a coin or bill.  A five pound note and a ten pound note represent two denominations.
depositn. an amount of money placed with a bank
deposit accountn. bank a/c on which interest is paid; savings account US.
fill inv. to add written information to a document to make it complete.
foreign exchangen. Used to describe the currency of other countries and the system for dealing in such currency (often shortened to Forex).
interestn. money paid for borrowing money, or money that a bank or building society pays a customer for putting money into their bank.
interest raten. the percentage of an amount of money which is paid for the use of that money over a period of time.
lendv. to give the temporary use of money on the condition of repayment and at a set rate of interest.
loann. money lent by a bank etc and that must be repaid with interest – also v.
mortgagenmost of us do not buy our homes outright for cash – instead we borrow money to do so.
overdraftn. deficit in a bank account caused by withdrawing more money than is paid in
payv. To give (someone) money that is due for work done, goods received, or a debt incurred.
payn. Money paid to someone for regular work. Also see salary.
pay inv. to deposit or put money in to a bank account
payeen. person to whom money is paid
paying-in slipn. small document recording money that you pay in to a bank account
pencen. more than one penny.
pensionn. A regular payment made during a person’s retirement (when they become too old to work) from an investment fund to which that person or their employer has contributed.
salarynA fixed regular payment, typically paid on a monthly or biweekly basis made by an employer to an employee.
standing ordern. an instruction to a bank to make regular payments
statementn. a record of transactions in a bank account
withdrawv. to take money out of a bank account
withdrawaln. the act of taking out money.

Naturally Speaking

RICH MAN / POOR MAN

There are lots of ways to describe how rich or poor someone is. Here are a few – from very rich to very poor.

rich man
FILTHY RICH
STINKING RICH
ROLLING IN IT
WEALTHY
RICH
PROSPEROUS
AFFLUENT
WELL OFF
HARD-UP
NEEDY
SKINT
BRASSIC
PENNILESS
BROKE
POOR
IMPOVERISHED
POVERTY-STRICKEN
Poor man
DESTITUTE
DO YOU LIKE TO SHARE YOUR MONEY, OR DO YOU KEEP IT ALL TO YOURSELF?
IF YOU GLADLY SHARE YOUR MONEY YOU MAY BE CONSIDERED:-
Generous
CHARITABLE – GENEROUS – SHARING – UNSELFISH
IF YOU KEEP ALL YOUR MONEY YOU MAY BE CONSIDERED:-
Mean

MEAN – MISERLY – SELFISH – STINGY – TIGHT – UNCHARITABLE – UNGENEROUS

Dialogue

HERE IS A CONVERSATION BETWEEN MRS SMITH (JOAN) AND THE CASHIER AT HER NEW BANK.
It’s Saturday morning and Joan’s gone to the bank.
JoanI’d like to open a bank account, please.
CashierCertainly. Do you have some form of identification?
JoanYes, I bought my passport. Is that OK?
CashierYes. We also need proof of your current address. Do you have a utility bill or your driver’s licence with you?
JoanI’ve got my driver’s licence.
CashierThat’s fine. What kind of account did you want?
JoanWell I want two, a deposit account and a savings account.
CashierThat’s fine, we do both. Do you have any proof of income?
JoanYes, I bought my pay slips for the last three months.
CashierGood. You could also apply for a credit card at the same time, if you like.
JoanYes, that would be great.
CashierOK. If you would just like to fill out these forms…

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