IELTS Financial Vocabulary : Useful words in IELTS Speaking
Financial and Banking
- Extension: A period of time added to the end of an existing time limit.
- Confidential: Kept in strict privacy and security.
- Debt: An amount of money that is owed.
- Payday: The day on which an employee receives their salary.
- Cashier: A person who receives and disburses money in a business.
- Teller: A bank employee who deals with customers' transactions.
- ATM (Automatic Teller Machine): A machine that allows bank customers to carry out transactions.
- Procedure: A series of actions conducted in a certain order or manner.
- Signature Card: A card with a person's signature, often used for identification.
Market and Investment
- Financial Market: A market in which people trade financial assets.
- Market Share: The portion of the total market for a particular product that is controlled by an individual company.
Banking and Financial Services
- Weekly Interest Account: An account that accrues interest on a weekly basis.
- Once a Day/Week/Month/Year: Indicating the frequency of an event occurring every day, week, month, or year.
- Long-term Loan: A loan that is repaid over an extended period.
- Low-interest Loan: A loan with a lower than average interest rate.
- Apply for a Loan: To formally request a loan.
- Grant a Loan: To give approval for a loan.
- Financial Problems: Difficulties related to the management of money.
- By Installment: Paid in regular intervals, typically monthly payments for goods or services.
Banking Transactions and Currency
- Withdraw: To take money out of a bank account.
- Save: To put money into a bank or other investment.
- Deposit: To put money into a bank account.
- Transaction: The act of exchanging money or goods.
- Bill: A document notifying the amount due for goods shipped or services rendered.
- Cash: Money in the form of coins or banknotes.
- Change: Money returned as the difference after a purchase.
- Coin: A small piece of metal used as money.
- Value, Worth: The monetary amount for which something is sold or bought.
Currency and Investment
- Penny: A small coin or unit of currency.
- Pence: A plural form of penny, used in some currency systems.
- Fare: The charge made for transport, especially on public transport.
- Accepted Currency: The official currency of a country or region.
- Canadian Dollars: The currency of Canada.
- Australian Dollars: The currency of Australia.
- Pounds: A unit of currency, as in British Pounds.
- Japanese Yen: The currency of Japan.
- Password, Code: A secret word or string of characters used for authentication.
- Service Charge: An additional fee charged by a service provider.
- Bank Statement: A document provided by a bank that lists all the transactions on an account.
- Low-risk Investment: An investment with a low probability of losing value.
- Exchange Rate, Current Rate: The value of one currency for the purpose of conversion to another.
- Inflation Rate: The rate at which the general level of prices for goods and services is rising.
Banking Account Types and Credit
- Bank Account: An account held at a financial institution.
- Documentation: Official papers or certificates.
- Passport: An official document certifying the holder's identity and citizenship, and entitling them to travel under its protection.
- Student Card: An identification card for students.
- Identity Card: A card that serves as evidence of identity.
- Open an Account: To create a new bank account.
- Account Number: A unique identifier for a bank account.
- Discount: A reduction in the price of something.
- Student Account: A special type of bank account for students.
- Current Account: A demand deposit account which allows deposits and withdrawals.
- Fixed Account: A type of bank account with a fixed term and interest rate.
- Deposit Account: An account at a bank or other financial institution where money is deposited.
- Joint Account: A bank account owned by two or more people.
- Instant Account: An account that is immediately available for use.
Credit Card and Cheque Services
- Credit Card: A card issued by a financial institution to a cardholder.
- Issue a Credit Card: To provide a credit card to a customer.
- Overdraft: The amount by which a bank allows an account to be overdrawn.
- Debit Card: A card that allows the holder to make payments directly from their bank account.
- Visa: A global payment technology company.
- Mastercard: A technology company in the global payments industry.
- American Express: A multinational financial services corporation.
- Checkbook: A booklet of blank checks.
- Traveler's Check: A pre-paid payment instrument.
- Cash the Check: To convert a check into cash.
- Signature Card: A card that requires a signature to authorize transactions.
Interest and Savings Accounts
- Earn Interest: To receive interest as income.
- Annual Interest Rate: The percentage of an account balance paid in one year.
- Yearly Interest Rate: The interest rate applied to savings over the course of a year.
- Monthly Savings Account: A savings account with interest calculated monthly.
- Daily Interest Account: A savings account with interest calculated daily.
