# Money & Payments Advanced

https://hienglishquiz.com/vocabulary/everyday-life-c1-banking-vocab

- CEFR: C1 (Advanced)
- Theme: Daily Life
- Words: 22
- Premium: no
- Locked: no

Money & Payments vocabulary for finance beyond everyday banking, including accrue, collateral, insolvent and compound interest — words for outgoings measured…

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## Word list

* **accrue** /əˈkru/: To increase little by little over time, the way interest is added to an account. — “Interest **accrues** daily, so the debt grows while you wait.”
* **overdrawn** /ˈoʊvərˈdrɔn/: Having spent more money than your account held and now owing the bank. — “I went **overdrawn** by twenty pounds and got charged for it.”
* **collateral** /kəˈlætərəl/: Property or another valuable thing that you promise to give up if you fail to repay a loan. — “The bank asked him to put up his house as **collateral**.”
* **insolvent** /ˌɪnˈsɑlvənt/: Unable to pay your debts because you do not have enough money. — “The company was declared **insolvent** after months of losses.”
* **liquidity** /lɪˈkwɪdəti/: How easily a person's or company's assets can be turned into cash. — “The firm improved its **liquidity** by selling unused property.”
* **underwrite** /ˈʌndərˌraɪt/: To accept financial responsibility for a loan or insurance policy, agreeing to cover the cost if something goes wrong. — “A major bank agreed to **underwrite** the company's new bond issue.”
* **embezzle** /ɪmˈbɛzəl/: To steal money that has been entrusted to you, especially from your employer. — “The accountant was jailed for trying to **embezzle** company funds.”
* **asset** /ˈæˌsɛt/: Something valuable that a person or company owns. — “Property is often a person's biggest **asset**.”
* **liability** /ˌlaɪəˈbɪlɪti/: Something a person or company owes, such as a debt. — “The unpaid loan is listed as a **liability** on the balance sheet.”
* **compound interest**: Interest calculated on both the original money saved and the interest it has already earned. — “Over ten years, **compound interest** made her savings grow fast.”
* **top up**: To add more money to a card, phone or account so that you can keep using it. — “I need to **top up** my travel card before Monday.”
* **standing order**: A fixed amount your bank pays out automatically on the same date each month. — “I set up a **standing order** to pay my rent.”
* **levy** /ˈlɛvi/: A sum of money that must be paid, especially as a tax. — “The government introduced a new **levy** on plastic bags.”
* **premium** /ˈprimiəm/: An extra amount paid for something better, or the regular payment for insurance. — “Her car insurance **premium** went up this year.”
* **gratuity** /ɡrəˈtuɪti/: A formal word for a tip given for good service. — “A 15% **gratuity** is added to large tables.”
* **retainer** /rɪˈteɪnər/: A fee paid in advance to keep someone's services available when needed. — “The company pays the lawyer a monthly **retainer**.”
* **prepayment** /priˈpeɪmənt/: Money given before goods or services are received. — “The venue requires a **prepayment** to confirm the booking.”
* **outstanding balance**: The amount of money still owed after previous payments. — “Please clear your **outstanding balance** by Friday.”
* **chargeback** /ˈtʃɑrdʒˌbæk/: When a bank cancels a card transaction and returns the money to the customer, usually after a dispute. — “She requested a **chargeback** after the item never arrived.”
* **escrow** /ɛˈskroʊ/: Money held by a neutral third party until an agreement is completed. — “The deposit is held in **escrow** until the sale is finished.”
* **outgoings**: The regular amounts of money you have to pay out each month. — “Once I listed my **outgoings**, I saw where the money went.”
* **dip into**: To take out part of the money you had been keeping for later. — “We had to **dip into** our savings to fix the roof.”

## Related

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