Theme 1: Banking and Finance
balance / 'bæləns /
1. [countable] the amount of money that you have in your bank account
My bank balance isn't very healthy.
2. [countable] the balance of a debt is the amount of money that you still owe after you have paid
some of it
The balance is due at the end of the month.
bureau de change noun / bjʊərəʊ də'ʆɒndʒ / plural a shop where you can change foreign
money
checking account [countable] a bank account that you can take money out of at any time, and
for which you are given checks to use to pay for things
savings account noun [countable] a bank account in which you keep money that you want to
save for a period of time, and which pays you interest on the money you have in it
debit card noun [countable] a plastic card with your signature on that you can use to pay for
things. The money is taken directly from your bank account
credit card noun [countable] a small plastic card that you use to buy goods or services and pay
for them later
We accept all major credit cards.
denomination noun / dɪnɒmɪ'neɪʆən / [countable] the value shown on a coin, paper money, or
a stamp
deposit noun / dɪ'pɒzɪt / [countable]
1. a part of the cost of something you are buying that you pay some time before you pay the rest of it
•a deposit of/ put down a deposit (on something)
A deposit of 10% is required.
We put down a deposit on a house last week.
We ask for one month's rent in advance, plus a deposit of $500.
2. an amount of money that is paid into a bank account ￚ opposite withdrawal
•deposit into
I'd like to make a deposit (=pay some money) into my savings account.
1
ceiling noun / 'siːlŋɪ / [countable] the largest number or amount of something that is officially
allowed
•ceiling of
•impose/set/put a ceiling (on something)
•raise/lower the ceiling (on something)
a public spending ceiling of £240 billion
The government imposed a ceiling on imports of foreign cars.
direct debit noun [uncountable and countable] an instruction you give your bank to pay money
directly out of your account regularly to a particular person or organization
interest rate noun [countable] the percentage amount charged by a bank etc when you borrow
money or paid to you by a bank when you keep money in an account there
loan noun / ləʊn / [countable] an amount of money that you borrow from a bank etc
•a loan of
a loan of £60,000
I had to take out a loan to buy my car.
It'll be years before we've paid off the loan.
The organization was allowed to make loans to private businesses.
An interest-free loan fund is available for students who find themselves in unforeseen
financial difficulty.
They were unable to keep up with their loan repayments.
mortgage noun / 'mɔːgɪdʒ/ [countable] a legal arrangement by which you borrow money from a
bank or similar organization in order to buy a house, and pay back the money over a period of years
They've taken out a 30 year mortgage (=they will pay for their house over a period of 30
years).
We decided to use Fred's redundancy money to pay off the mortgage.
Mortgage rates are set to rise again in the spring.
She was having trouble meeting her mortgage payments.
mortgage verb [transitive] if you mortgage your home, land, or property, you borrow money,
usually from a bank, and if you cannot pay back the money within a particular period of time, the
bank has the right to sell your property in order to get the money you owe it
We mortgaged our house to start Paul's business.
overdraft noun / 'əʊvədrɑːft / [countable] the amount of money you owe to a bank when you
have spent more money than you had in your account
a £250 overdraft
2
payee noun / peɪ 'iː / [countable] the person or organization to whom money, especially a check,
must be paid
remittance noun / rɪ'mɪtəns /
1. [countable] formal an amount of money that you send to pay for something
2. [uncountable] when you send money
•on remittance of something
We will forward the goods on remittance of £10.
standing order noun [uncountable and countable] an arrangement by which a bank pays a
fixed amount of money from your account every month, year etc ￚ see also direct debit
statement noun / 'steɪtmənt / [countable] a record showing amounts of money paid, received,
owed etc
I haven't received my bank statement for last month yet.
transfer verb / træns 'fɜː/ [transitive] to move money from one account or institution to another
•transfer something (from something) to something
I'd like to transfer $500 to my checking account.
traveler’s check an internationally accepted check for a sum in a particular currency that can
be exchanged elsewhere for local currency or for goods and is usually guaranteed against loss or
theft.
recognize verb /'rekəgnaɪz/[transitive] [not in progressive] to know who someone is or what
something is, because you have seen, heard, experienced, or learned about them in the past
I didn't recognize you in your uniform.
It was malaria, but Dr Lee hadn't recognized the symptoms.
realize verb /'rɪəlaɪz/ to know and understand something, or suddenly begin to understand it
•realize (that)
•realize who/what/how etc
I suddenly realized that the boy was crying.
I'm sorry, I didn't realize who you were.
at somebody's convenience =at a time that is best and easiest for someone
These meals can be prepared in advance, and served at your convenience.
for somebody's convenience
For your convenience, the bank is open until 7 p.m.
authorize verb /'ɔθː əraɪz /[transitive] to give official permission for something
3
•authorize somebody to do something
The city council authorized staff to purchase a new computer system.
p.a. = per annum
a salary of $40,000 per annum
retain verb / rɪ 'teɪn / [transitive] to keep something or continue to have something
You have the right to retain possession of the goods.
The state wants to retain control of food imports.
collective adjective / kə'lektɪv / [only before noun] shared or made by every member of a group
or society
a collective decision made by all board members
our collective responsibility for the environment
affective adjective / ə 'fektɪv / (medical) relating to or having an effect on the emotions
affective disorders
terminate verb / 'tɜːmɪneɪt / = end
The court ruled that the contract must be terminated.
effective adjective / ɪ'fektɪv /
1. successful, and working in the way that was intended
the most effective ways of reducing inner city congestion
2. [no comparative, not before noun] if a law, agreement, or system becomes effective, it officially
starts
•effective from
The cut in interest rates is effective from Monday.
4
Theme 2: Marketing
advertising / 'ædvətaɪzŋɪ / [uncountable] the activity or business of advertising things on
television, in newspapers etc
•television/radio/newspaper advertising
•advertising campaign/strategy
Both candidates are spending millions on television advertising.
the advertising slogan 'Come alive with Pepsi'
advertisement noun / əd 'vɜːtɪsmənt / [countable]
•advertisement for
The Sunday papers are full of advertisements for cars.
They put an advertisement in The Morning News, offering a high salary for the right
person.
The organizers of the concert had taken out a full page advertisement in The New York
Times.
brand noun / brænd / [countable] a type of product made by a particular company, that has a
particular name or design
•brand of
What brand of detergent do you use?
distribute verb / dɪ 'strɪbjuːt / [transitive]
1. to share things among a group of people, especially in a planned way
•distribute something among/to somebody
Clothes and blankets have been distributed among the refugees.
a man distributing leaflets to passers-by
2. to supply goods to shops and companies so that they can sell them
Milk is distributed to the local shops by Herald's Dairies.
innovation noun / ɪnə'veɪʆən / [ Countable and Uncountable ] a new idea, method, or invention
•innovation in
recent innovations in English teaching
We must encourage innovation if the company is to remain competitive.
Many people feel bewildered by the speed of. technological innovation.
objective noun / əb 'dʒektɪv / [countable] = goal
He vowed to achieve certain objectives before the end of his presidency.
The degree program has two main objectives.
Managers should set specific performance objectives for their teams.
5