MONEY VOCABULARY

Credit Card – a small plastic card that can be used as a method of payment, the money being taken from you at a later time.

Sentence – This credit card allows you to withdraw up to £200 a day from cash dispensers.

Cheque – a printed form, used instead of money, to make payments from your bank account.

Sentence – The cheque was only deposited yesterday, so it hasn’t been cleared yet.

Annual Fee – a yearly charge by banks and financial institutions to customers for use of their credit cards.

Sentence – The patentee shall pay an annual fee beginning with the year in which the patent right was granted.

Money Management – the activity of organizing and investing your own or someone else’s money.

Sentence – Money Management contains full details of the performance of a wide range of managed and single currency funds.

Current Account – a bank account that you can take money from at any time and that usually earns little or no interest.

Sentence – Switch to an interest-paying current account and stay in credit. Most banks and larger building societies now offer these accounts.

Interest Rate – the interest percent that a bank or other financial company charges you when you borrow money, or the interest percent it pays you when you keep money in an account.

Sentence – An interest rate reduction is needed to get more money flowing and create jobs.

Withdraw – to take money out of an account.

Sentence – I’d like to withdraw 1000 dollars from my savings account and put it in my cheque account.

Mortgage – an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself.

Sentence – People who default on their mortgage repayments may have their home repossessed.

Grace Period – extra time you are given to pay money you owe without losing something or paying an additional amount.

Sentence – A grace period of five years is granted to buses registered before July 1, 1997.

Coupon – a piece of paper that can be used to get something without paying for it, or at a reduced price.

Sentence – I’ve kept the special coupon from the box of washing powder, so that I can get my next box cheaper.