040. Money | LanGeek

current account

noun

/kˈɜːɹənt ɐkˈaʊnt/

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a bank account that allows frequent deposits and withdrawals, typically using checks, with no prior notice required

Dialect

British

checking account

American

Grammatical Information:

compound noun

interest rate

noun

/ˈɪntɹəst ɹˈeɪt/

the amount that a lender charges a borrower for the use of money, typically calculated based on the amount of the loan and the length of the borrowing period

Grammatical Information:

compound noun

overdraft

noun

/ˈoʊvɝˌdɹæft/

a deficit in a bank account caused by withdrawing more money than is available

facility

noun

f

a

ə

c

s

i

ɪ

l

i

ɪ

t

y

i

a service that an organization or a piece of equipment offers you

to consolidate

Verb

c

k

o

ə

n

s

o

ɑ

l

i

ɪ

d

a

eɪ

t

e

to merge several financial accounts, debts, funds, into one

Grammatical Information:

transitive

debt

noun

d

e

ɛ

b

t

an amount of money or a favor that is owed

payment

noun

p

a

e

y

ɪ

m

e

ə

n

t

an amount of money that is paid for something

nonpayment

to raise money

phrase

/ɹˈeɪz mˈʌni/

Collocation

to collect funds, often through various means such as fundraising, investments, donations, or other financial efforts

mortgage

noun

m

o

ɔ

r

t

g

a

ə

g

ʤ

e

an official contract or arrangement by which a bank gives money to someone as a loan to buy a house and the person agrees to repay the loan over a specified period, usually with interest

to deposit

Verb

d

e

ə

p

o

ɑ

s

z

i

ɪ

t

to put an amount of money or other item of value into a bank account

withdraw

Grammatical Information:

transitive

repayment

noun

/ɹiˈpeɪmənt/

the act or process of returning the amount of money one borrowed from a bank or other financial institutions

steady

Adjective

s

t

ea

ɛ

d

y

i

regular and constant for a long period of time

unsteady

income

noun

i

ɪ

n

c

k

o

ə

m

e

the money that is regularly earned from a job or through an investment

outgo

credit rating

noun

/kɹˈɛdɪt ɹˈeɪɾɪŋ/

a number that represents how reliable a person or company is when it comes to paying back loans, based on their past financial activity

Grammatical Information:

compound noun

to finance

Verb

f

i

aɪ

n

a

æ

n

c

s

e

to provide funds or an amount of money

Grammatical Information:

transitive

to open

Verb

o

oʊ

p

e

ə

n

to become available for use or access

Grammatical Information:

intransitive

savings account

noun

/sˈeɪvɪŋz ɐkˈaʊnt/

a bank account that pays interest on one's deposited money and is intended to help one save over time

Grammatical Information:

compound noun

transfer

noun

t

r

a

æ

n

s

f

e

ɜ

r

the act of transfering something from one form to another

to be in credit by number

phrase

/biː ɪn kɹˈɛdɪt baɪ nˈʌm/

to have more money in one's account than what one owes or what was initially invested

to overdraw

Verb

/ˈoʊvɝˌdɹɔ/

to withdraw more money from a bank account than is available

in the red

phrase

/ɪn ˌɪntʊ ðə ɹˈɛd/

Idiom

in debt due to spending more than one's earnings

in the black

What is the origin of the idiom "in the red" and when to use it?

The phrase "in the red" originates from the practice of using red ink to indicate negative amounts or deficits in financial records and accounting ledgers. This idiom is used to describe a financial situation where expenses exceed income, resulting in a negative balance or deficit.

charge

noun

ch

ʧ

a

ɑ

r

g

ʤ

e

the sum of money that needs to be payed for a thing or service

interest

noun

i

ɪ

n

t

e

r

e

ə

s

t

the cost of borrowing money, usually expressed as a percentage of the amount borrowed

banking

noun

b

a

æ

n

k

i

ɪ

n

g

the management and handling of financial matters or transactions

online

Adjective

o

ɑ:

n

l

i

aɪ

n

e

connected to or via the Internet

cash machine

noun

/kˈæʃ məʃˈiːn/

an electronic device that enables individuals to perform financial transactions, such as withdrawing cash, without the need for human assistance

Dialect

British

automated teller machine

American

Grammatical Information:

compound noun

income tax

noun

/ˈɪnkʌm tˈæks/

a tax paid to the government each year by a business or an individual based on their income

inheritance tax

noun

/ɪnhˈɛɹɪtəns tˈæks/

a tax on the estate of the deceased person

customs

noun

c

k

u

ə

s

t

o

ə

m

s

z

the taxes that are paid to the government when goods are moved from a country to another

excise

noun

e

ɛ

x

ks

c

i

aɪ

s

z

e

a tax that is measured by the amount of business done (not on property or income from real estate)

duty

noun

d

u

ju

t

y

i

a government-imposed tax on imported or exported goods

duty-free

Adjective

/ˈduːti ˈfriː/

(of goods) able to be imported without paying tax on them

value-added tax

noun

/vˈæljuːˈædᵻd tˈæks/

a tax put on the value added to a product at each stage of the supply chain, affecting the final price which the consumer pays

corporation

noun

c

k

o

ɔ

r

p

o

ɜ

r

a

eɪ

t

ʃ

io

ə

n

a company or group of people that are considered as a single unit by law

tax

noun

t

a

æ

x

ks

a sum of money that has to be paid, based on one's income, to the government so it can provide people with different kinds of public services

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