# Money & Payments Expert

https://hienglishquiz.com/vocabulary/everyday-life-c2-banking-vocab

- CEFR: C2 (Proficient)
- Theme: Daily Life
- Words: 25
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Money & Payments vocabulary for finance in formal and legal language, including remittance, fiduciary, foreclosure and covenant — words for the affluence or…

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## Word list

* **remittance** /riˈmɪtəns/: A sum of money sent to another person, typically to relatives living in a different country. — “She sends a monthly **remittance** to her parents in Manila.”
* **fiduciary** /fəˈduʃiˌɛri/: Relating to the legal duty to act responsibly with someone else's money (formal). — “As trustee, she had a **fiduciary** duty to the family's savings.”
* **indemnity** /ˌɪnˈdɛmnəti/: A formal promise to pay for damage or loss that may happen (legal/financial). — “The bank required an **indemnity** before releasing the funds.”
* **usury** /ˈjuʒəri/: The practice of lending money and charging an unfairly high rate of interest (formal/literary). — “The old laws banned **usury** by moneylenders.”
* **amortise**: To gradually pay off a debt through regular payments over time. — “The loan is **amortised** over twenty-five years.”
* **forbearance** /fɔrˈbɛrəns/: A lender's decision to delay demanding repayment of a debt (formal). — “The bank granted temporary **forbearance** on the mortgage.”
* **moratorium** /ˌmɔrəˈtɔriəm/: An official period during which an activity, such as debt repayment, is officially stopped. — “The government announced a **moratorium** on loan repayments.”
* **garnish** /ˈɡɑrnɪʃ/: To legally take money directly from someone's wages or bank account to pay a debt. — “The court allowed them to **garnish** his wages.”
* **foreclosure** /fɔrˈkloʊʒər/: The legal process of taking away a property because the owner has not kept up mortgage payments. — “The bank began **foreclosure** after months of missed payments.”
* **covenant** /ˈkʌvənənt/: A formal legal agreement, especially about the conditions of a loan or contract. — “The loan **covenant** required the company to keep its debts low.”
* **surcharge** /sərˈtʃɑrdʒ/: An extra amount added on top of the normal cost, often for a particular way of paying. — “There's a small **surcharge** if you pay by credit card.”
* **exorbitant** /ɪɡˈzɔrbɪtənt/: Much higher than is reasonable, especially about a price or fee. — “The venue charged an **exorbitant** fee for a small room.”
* **punitive** /ˈpjunətɪv/: Intended to punish, especially through an unfairly high charge. — “Late payers face a **punitive** interest rate.”
* **remuneration** /rɪˌmjunərˈeɪʃən/: Payment for work done (formal). — “The role offers generous **remuneration** and benefits.”
* **disbursement** /dɪsˈbɜrsmənt/: The act of paying out money from a fund (formal). — “The charity approved a **disbursement** of funds to flood victims.”
* **recompense** /ˈrɛkəmˌpɛns/: Payment given to make up for loss, damage or inconvenience (formal). — “She received **recompense** for the delayed flight.”
* **pecuniary** /pɛˈkjuniˌɛri/: Relating to money (formal). — “He faced serious **pecuniary** difficulties after losing his job.”
* **defray** /dɪˈfreɪ/: To provide money to pay all or part of a cost (formal). — “The grant helps **defray** the cost of travel.”
* **indemnify** /ˌɪnˈdɛmnəˌfaɪ/: To promise to pay someone for any loss or damage they might suffer (formal/legal). — “The contract **indemnifies** the company against any losses.”
* **usurious**: Charging an unfairly or illegally high rate of interest. — “Loan sharks are known for their **usurious** rates.”
* **windfall** /ˈwɪndˌfɔl/: A sum of money that reaches you unexpectedly, without you having earned it. — “We used the **windfall** from Gran's estate to clear the mortgage.”
* **skint**: Having no money at all at the moment. — “I can't come out tonight — I'm completely **skint**.”
* **destitute** /ˈdɛstəˌtut/: Extremely poor and without the basic things needed to live. — “The family was left **destitute** after the business failed.”
* **penury** /ˈpɛnjʊri/: Extreme poverty (formal/literary). — “He spent his final years in **penury**.”
* **affluence** /ˈæfluəns/: The state of having a lot of money (formal). — “The new suburb was a symbol of growing **affluence**.”

## Related

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