# Money & Payments Upper Intermediate

https://hienglishquiz.com/vocabulary/everyday-life-b2-banking-vocab

- CEFR: B2 (Upper-intermediate)
- Theme: Daily Life
- Words: 20
- Premium: no
- Locked: no

Money & Payments vocabulary for banking and paying for things, including mortgage, joint account, wire transfer and instalment — the words for managing…

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## Word list

* **mortgage** /ˈmɔrɡədʒ/: A large loan from a bank used to buy a home, paid back over many years. — “We're still paying off the **mortgage** on the flat.”
* **transaction** /trænˈzækʃən/: A single act of moving money into or out of an account, such as a payment. — “Each **transaction** shows up in the app within a few seconds.”
* **sort code**: A six-digit code that identifies a particular bank and branch (British English). — “You'll need my **sort code** and account number to pay me.”
* **exchange rate**: The value of one country's money compared to another's. — “The **exchange rate** was better at the airport than at home.”
* **online banking**: Managing your bank account using a website or app instead of visiting a branch. — “I check my balance with **online banking** every morning.”
* **joint account**: A bank account shared by two or more people. — “My partner and I opened a **joint account** for our bills.”
* **fraud** /frɔd/: The crime of deceiving people to get their money illegally. — “The bank called to warn me about **fraud** on my card.”
* **verify** /ˈvɛrəˌfaɪ/: To check that something is true or correct. — “The bank will **verify** your identity before opening an account.”
* **fee** /fi/: An amount of money you pay for a service. — “The bank charges a small **fee** for international transfers.”
* **wire transfer**: Sending money electronically directly from one bank account to another. — “We paid the deposit by **wire transfer**.”
* **direct debit**: An arrangement that lets a company take money from your bank account automatically each month. — “I set up a **direct debit** so I never forget the bill.”
* **instalment**: One of the regular payments you make until the whole cost is paid. — “I'm paying for the sofa in monthly **instalments**.”
* **processing fee**: A small extra charge for handling a payment or transaction. — “There's a small **processing fee** for paying by card.”
* **minimum payment**: The smallest amount you are allowed to put towards a debt each month. — “She only paid the **minimum payment** on her credit card.”
* **payment plan**: An agreement to settle the cost of something in smaller amounts over time. — “The shop offered a **payment plan** for the sofa.”
* **upfront** /ˈʌpˌfrʌnt/: Paid before you receive the goods or service, rather than afterwards. — “The deposit must be paid **upfront**.”
* **deferred payment**: An arrangement to settle the cost of something at a later date instead of straight away. — “The store offers **deferred payment** for six months.”
* **in advance**: Before something happens, ahead of time. — “You must book and pay **in advance**.”
* **non-refundable** /nɑnrɪˈfʌndəbəl/: Describing money that cannot be given back once it has been paid. — “The booking fee is **non-refundable**.”
* **cash-strapped**: Having little or no money available (informal). — “**Cash-strapped** students often skip meals to save money.”

## Related

- Vocabulary library: https://hienglishquiz.com/vocabulary
- Section guide: https://hienglishquiz.com/vocabulary/llms.txt