mortgage /ˈmɔːrɡɪdʒ/
(noun) a legal agreement by which a bank or similar organization lends you money to buy a house, etc., and you pay the money back over a particular number of years; the sum of money that you borrow
Example: Hiram mortgaged his home to get extra money to invest in his business

signature /ˈsɪɡnətʃər/
(noun) your name as you usually write it, for example at the end of a letter
Example: The customer's signature was kept on file for identification purposes

transaction /trænˈzækʃn/
(noun) a piece of business that is done between people, especially an act of buying or selling
Example: Banking transaction will appear on your monthly statement

debt /det/
(noun) a sum of money that somebody owes
Example: The banks are worried about your increasing debt

authorize /ˈɔːθəraɪz/
(verb) to give official permission for something, or for somebody to do something
Example: We cannot share the test results with you until we have been authorized to do so by your doctor

statement /ˈsteɪtmənt/
(noun) something that you say or write that gives information or an opinion
Example: My bank sends me monthly statement

limit /ˈlɪmɪt/
(noun) the greatest or smallest amount of something that is allowed
Example: We were reaching the limits of civilization.

cheque /tʃek/
(noun) a printed form that you can write on and sign as a way of paying for something instead of using money
Example: to write a cheque

bank /bæŋk/
(noun) an organization that provides various financial services, for example keeping or lending money
Example: There is only one bank in this town.

card /kɑːrd/
(noun) thick, stiff paper; a piece of this for writing on
Example: a piece of card

grant /ɡrænt/
(verb) to agree to give somebody what they ask for, especially formal or legal permission to do something
Example: He has been awarded a research grant.

withdraw /wɪðˈdrɔː/
(verb) to take money out of a bank account
Example: Both powers withdrew their forces from the region.

pin /pɪn/
(noun) a short thin piece of stiff wire with a sharp point at one end and a round head at the other, used especially for fastening together pieces of cloth when sewing
Example: Pin all the pieces of material together.

cost /kɔːst/
(noun) the amount of money that you need in order to buy, make or do something
Example: It costs a fortune to fly first class.

trace /treɪs/
(verb) to find or discover somebody/something by looking carefully for them/it
Example: The ship had vanished without (a) trace.

cash /kæʃ/
(noun) money in the form of coins or notes
Example: Payments can be made by cheque or in cash.

credit /ˈkredɪt/
(noun) an arrangement that you make, with a shop for example, to pay later for something you buy
Example: Your credit limit is now £2000.

Interest rate
Interest rate /ˈɪntrəst reɪt/
Example: I don’t know what the interest rate is.

mandate /ˈmændeɪt/
(noun) the authority to do something, given to a government or other organization by the people who vote for it in an election
Example: The election victory gave the party a clear mandate to continue its programme of reform.

cash flow
cash flow /ˈkæʃ fləʊ/
(noun) the movement of money into and out of a business as goods are bought and sold

exceed /ɪkˈsiːd/
(verb) to be greater than a particular number or amount
Example: The price will not exceed £100.

current account
current account /ˈkɜːrənt əkaʊnt/
(noun) a type of bank account that you can take money out of at any time, and that provides you with a debit card and (sometimes) a chequebook

in words
in words /ɪn wɜːdz/
to explain it more clearly

in figures
in figures /ɪn ˈfɪɡə(r)z/
the symbol for a number or an amount expressed in numbers

swift /swɪft/
(adjective) happening or done quickly and immediately; doing something quickly

account holder
account holder /əˈkaʊnt ˈhəʊldə/


pay into
pay into /peɪ ˈɪntʊ/
(phrasal verb) to put money into a bank account

debit /ˈdebɪt/
(noun) a written note in a bank account or other financial record of a sum of money owed or spent

standing order
standing order /ˌstændɪŋ ˈɔːrdər/
(noun) an instruction that you give to your bank to pay somebody a fixed amount of money from your account on the same day each week/month, etc.

online account
online account /ɒnˈlʌɪn /