[English 101] BANK VISIT - Expressions for deposits, withdrawals, and inquiries

Teaching Material

1. I need to visit the bank to open an account today.
• Bank (noun) - A financial institution where people deposit, withdraw, and manage money.
• Use 'bank' when discussing where you keep or handle finances. It’s the most basic term for any financial institution.
• Customer: Which bank do you recommend? Friend: I use CityBank because it’s near my office.
2. She opened a new account to separate her savings from daily expenses.
• Account (noun) - A record of financial transactions in a bank, tied to an individual or entity.
• Use 'account' when talking about your specific arrangement with a bank, such as checking, savings, or other specialized types.
• Customer: I'd like to open a savings account, please. Teller: Certainly, I'll need some identification.
3. He made a large deposit after getting his bonus.
• Deposit (noun/verb) - Money placed into a bank account for safekeeping or to increase the balance.
• Use 'deposit' when you add funds to your account, either via cash, checks, or electronic transfers. It's a common banking transaction.
• Customer: I’d like to deposit this check. Teller: Sure, please fill out a deposit slip.
4. She made a small withdrawal to have cash for groceries.
• Withdrawal (noun) - Taking money out of a bank account, reducing the balance.
• Use 'withdrawal' when removing funds from your account, whether by ATM, teller, or check. Remember to keep track of your balance.
• Customer: I need to withdraw $200 from my account. Teller: Certainly, please provide your ID.
5. The teller greeted me and processed my deposit quickly.
• Teller (noun) - A bank employee who handles transactions like deposits, withdrawals, and check cashing.
• Use 'teller' when referring to the person behind the counter who directly assists customers with routine transactions.
• Customer: I have a question about my balance. Teller: I can help you with that—may I see your account details?
6. She spoke with a banker about refinancing her mortgage.
• Banker (noun) - A broad term for someone working in a bank, sometimes involved in more complex services like loans.
• Use 'banker' if you’re seeking professional financial advice or specialized services beyond basic transactions.
• Customer: I need advice on a business loan. Banker: Let’s discuss your financial statements first.
7. He pays bills from his checking account each month.
• Checking account (noun) - A bank account used for everyday transactions, often paired with checks or debit cards.
• Use 'checking account' for frequent deposits and withdrawals. Often used for day-to-day payments and living expenses.
• Customer: Can I open a checking account? Teller: Absolutely, let’s start the paperwork.
• Current account - Use 'current account' in countries like the UK or India to describe an account for regular financial transactions.
8. She keeps emergency funds in her savings account.
• Savings account (noun) - A bank account intended primarily for storing money and earning interest over time.
• Use 'savings account' for money you don’t need immediately. It helps build interest and maintain financial security.
• Customer: I want to open a savings account for long-term goals. Teller: Great choice to keep your money growing safely.
9. He reviewed his statement to verify recent deposits and withdrawals.
• Statement (noun) - A monthly or periodic record showing all transactions and the current balance of an account.
• Check your 'statement' regularly to ensure accuracy. It’s essential for budgeting and spotting any unusual transactions.
• Customer: Can I get a printed statement? Teller: Certainly, I’ll print your latest activity.
10. The online transaction appeared on her account instantly.
• Transaction (noun) - Any action involving money movement, such as depositing, withdrawing, or transferring funds.
• Use 'transaction' for any bank-related activity on your account. It covers both incoming and outgoing funds.
• Customer: How long does a transaction take? Teller: It’s usually immediate, but it can vary depending on the method.
11. He checked his balance before deciding how much to withdraw.
• Balance (noun) - The amount of money currently in an account.
• Monitor your 'balance' to avoid overdrafts or overspending. You can check it via ATM, online banking, or in-person at the bank.
• Customer: What’s my account balance? Teller: It’s $1,250 at the moment.
12. She accidentally went into overdraft after a large payment cleared.
• Overdraft (noun) - A situation where withdrawals exceed the account balance, often incurring a fee.
• Use 'overdraft' when referencing a negative balance. Many banks charge extra fees or interest, so track your funds carefully.
• Customer: I got an overdraft fee. Teller: You might consider overdraft protection to prevent this.
13. Her savings account earns a modest interest each month.
• Interest (noun) - A percentage paid by the bank on deposited money, or charged by the bank on loans.
• Use 'interest' when discussing the cost or earnings on borrowed or saved money. Rates can differ by account type.
• Customer: Does this account offer high interest? Teller: It has a competitive rate for long-term savers.
14. He applied for a loan to purchase a new car.
• Loan (noun) - Money borrowed from a bank, to be repaid with interest over time.
• Use 'loan' for borrowing arrangements. Know the terms, interest rates, and repayment schedule before signing.
• Customer: I’d like to apply for a personal loan. Banker: Sure, let’s review your credit score and income.
15. She has a 30-year mortgage on her house.
• Mortgage (noun) - A long-term loan specifically for purchasing property, with the real estate as collateral.
• Use 'mortgage' for real estate financing. Payments often last decades, so compare rates and conditions carefully.
• Customer: How do I qualify for a mortgage? Banker: We’ll check your credit and income to determine eligibility.
16. He has good credit, so the bank offered him a low interest rate.
• Credit (noun) - A sum of money that the bank or a lender allows you to borrow; also an individual’s financial trustworthiness.
• Use 'credit' when referring to your borrowing capacity or rating. Maintaining good credit opens up financial opportunities.
• Customer: Can you check my credit limit? Teller: Sure, it’s currently set at $5,000.
17. Her debit card purchase appeared immediately on the account statement.
• Debit (noun/adjective) - Money taken from your account; also refers to a transaction that decreases the balance.
• Use 'debit' for immediate fund deduction. With a debit card, transactions remove money directly from your balance.
• Customer: Is this a credit or debit transaction? Cashier: It’s debit, so it will come straight from your bank.
18. He wrote a check to pay his electricity bill.
• Check (Cheque) (noun) - A written order directing a bank to pay a specific amount of money from one’s account.
• Use 'check' for a paper-based payment method. Make sure to keep track of your check numbers and account balance.
• Customer: Can I deposit a check here? Teller: Yes, just endorse it and fill out a deposit slip.
19. She always carries her checkbook for rent payments.
• Checkbook (Chequebook) (noun) - A booklet of checks you can use to make payments from your account.
• Keep your checkbook safe. Record each check in the register to avoid errors and to track your balance accurately.
• Customer: I need a new checkbook. Teller: We can order one for you, and it’ll arrive by mail.
20. He stopped at an ATM to withdraw some cash.
• ATM (noun) - Automated Teller Machine, where you can withdraw, deposit, or check your balance using a card.
• Use 'ATM' for quick, convenient access to your funds. Watch for fees when using out-of-network machines.
• Customer: Is there an ATM nearby? Friend: Yes, there’s one around the corner.
21. She entered her PIN to access her account.
• PIN (noun) - Personal Identification Number, a code used to verify the cardholder at ATMs or point-of-sale.
• Keep your PIN secret to protect against fraud. Avoid easily guessable sequences like 1234 or your birthdate.
• Teller: Never share your PIN with anyone. Customer: Absolutely, I keep it confidential.
22. He requested a receipt for his deposit to keep track of his finances.
• Receipt (noun) - A printed or digital record proving a transaction or purchase.
• Keep important receipts for proof of payment or reference. Electronic versions can also be stored or emailed.
• Teller: Here’s your receipt. Customer: Thanks, I’ll hold onto it for my records.
23. His passbook showed all transactions made over the last year.
• Passbook (noun) - A small booklet provided by some banks to record deposits, withdrawals, and balances.
• Use 'passbook' in certain savings-oriented or traditional banking setups. It physically logs each transaction at the branch.
• Teller: Could I see your passbook? Customer: Yes, here it is with the latest entries.
24. Her salary is sent via direct deposit every two weeks.
• Direct deposit (noun phrase) - An electronic transfer of funds directly into an account, often used for paychecks.
• Use 'direct deposit' to skip paper checks and receive funds faster. It’s convenient for recurring payments like wages.
• Customer: How do I set up direct deposit? Teller: You’ll need to provide your employer with our routing and account numbers.
25. She made an online transfer from her checking to her savings.
• Transfer (noun/verb) - Moving money from one account to another, either within the same bank or externally.
• Use 'transfer' for shifting funds internally or to other banks. Be mindful of any fees or processing times.
• Customer: I’d like to transfer $500 to my other account. Teller: Sure, please fill out a transfer form.
26. He checked if he had enough funds before making a large purchase.
• Funds (noun) - A general term for money available for spending or saving.
• Use 'funds' to discuss money in your accounts collectively. It’s a flexible term covering any monetary resources.
• Customer: How quickly are funds available after deposit? Teller: Usually within one to two business days, depending on the check.
27. She scheduled an automatic payment for her credit card bill.
• Payment (noun) - An act of giving money in exchange for goods, services, or settling debts.
• Use 'payment' to describe transferring money to someone else or covering a bill. You can set up recurring payments for convenience.
• Customer: What’s the best way to handle monthly payments? Teller: An automatic draft can help you avoid late fees.
28. He saved for years to afford a sizable down payment on a condo.
• Down payment (noun phrase) - An initial, upfront amount paid when buying expensive items like a house or car.
• Use 'down payment' in big purchases to secure the deal and reduce the loan principal. The more you pay upfront, the less you owe later.
• Customer: How much down payment do I need for a mortgage? Banker: Typically, it’s around 10-20% of the purchase price.
29. He visited the nearest branch to open a new account in person.
• Branch (noun) - A local office of a bank where customers can perform transactions or ask questions.
• Use 'branch' when referring to a physical bank location. You can often handle more complex transactions face-to-face there.
• Customer: Is there a branch closer to my home? Teller: Yes, we have another branch two blocks away.
30. She keeps her jewelry in a safe deposit box at the bank.
• Safe deposit box (noun) - A secure, locked container within a bank’s vault for storing valuables or important documents.
• Use 'safe deposit box' for storing high-value items or key papers. Only you (and any authorized persons) can access it.
• Customer: Do you offer safe deposit boxes? Teller: Yes, we have different sizes available for rent.
31. He incurred a late payment fee on his credit card.
• Fee (noun) - A charge imposed by the bank for certain services or when certain conditions aren’t met.
• Keep an eye on 'fees' for maintaining accounts, ATM usage, or overdrafts. Understanding fee structures helps you avoid unnecessary costs.
• Customer: Why was I charged a fee? Teller: You fell below the minimum balance, triggering a monthly service charge.
32. The bank raised its savings rate by half a percent.
• Rate (noun) - The percentage of interest or charge applied to loans, savings, or currency exchange.
• Use 'rate' when discussing how much you’ll earn on savings or how much you’ll pay on loans. Always compare rates.
• Customer: What’s your current interest rate for auto loans? Banker: It’s 3.5% annual, subject to credit approval.
33. He exchanged his dollars for local currency before traveling.
• Currency (noun) - The system of money in general use within a country.
• Use 'currency' to talk about money type (e.g., dollars, euros). Check exchange rates and fees if traveling abroad.
• Customer: Do you handle foreign currency exchange here? Teller: Yes, we can convert major world currencies.
34. The exchange rate for dollars to euros changed this morning.
• Exchange rate (noun phrase) - The value of one currency when converted into another.
• Use 'exchange rate' when converting currencies. It fluctuates daily, so check updated rates for accurate calculations.
• Customer: What’s today’s exchange rate for pounds? Teller: Currently, it’s 1 pound to 1.25 dollars.
35. She ordered foreign currency from her bank two weeks before her trip.
• Foreign currency (noun phrase) - Money issued by a country other than your own.
• Use 'foreign currency' when traveling or making international transactions. Check availability and exchange fees in advance.
• Customer: Can I get Japanese yen here? Teller: Yes, we can provide foreign currency with a small service fee.
36. He was concerned about high bank charges on international transfers.
• Bank charges (noun phrase) - General term for fees or costs that banks apply for various services.
• Ask about 'bank charges' upfront to avoid surprises. Some may be waived if you maintain certain balance requirements or account types.
• Customer: Can you explain these bank charges? Teller: Sure, this one is an account maintenance fee, and that’s a transfer fee.
37. He used a banker’s draft to pay the deposit on his new apartment.
• Banker’s draft (noun) - A payment drawn on the bank’s funds rather than an individual’s account, considered very secure.
• Use 'banker’s draft' for large payments requiring guaranteed funds. It’s safer than a personal check for the recipient.
• Customer: How do I get a banker’s draft? Teller: You pay us the amount upfront, and we issue the draft in your name.
38. She bought a money order to mail her rent payment.
• Money order (noun) - A prepaid paper payment, often used when a payee requires secure funds.
• Use 'money order' if you don’t have a checking account or need guaranteed funds. Track and store the receipt carefully.
• Customer: Do you issue money orders here? Teller: Yes, just provide the amount and pay the small fee.
39. He went to the counter to speak with a teller about opening an account.
• Counter (noun) - The physical service area in a bank where tellers assist customers.
• In a bank, 'counter' is the main spot for face-to-face transactions. Be patient and have your documents ready.
• Security Guard: Please wait at the counter for assistance. Customer: Thank you, I’ll line up here.
40. He joined the queue at lunchtime, so it took 20 minutes to reach a teller.
• Queue (noun) - A line of people waiting for service, commonly used in British English; similar to ‘line’ in American English.
• Use 'queue' or 'line' to refer to waiting for service. It’s polite to respect others waiting and move forward in order.
• Customer: This queue is quite long. Friend: Let’s wait; it should move quickly.
• Line - Use 'line' in American English or casual contexts. Both words convey the same concept of waiting your turn.
41. She booked an appointment with the loan officer to discuss financing a new car.
• Loan officer (noun) - A bank employee who evaluates and approves loans, discussing terms with borrowers.
• Consult a 'loan officer' for questions about mortgage, auto, or personal loans. They’ll explain interest, collateral, and repayment.
• Customer: How do I schedule a meeting with a loan officer? Teller: I can set an appointment for next Tuesday.
42. He used his car as collateral for a personal loan.
• Collateral (noun) - An asset pledged as security for a loan, which can be taken if the loan isn’t repaid.
• Mention 'collateral' when discussing secured loans. Failure to repay may result in losing the pledged asset.
• Customer: Do I need collateral for this loan? Banker: Yes, we require property or valuables as security.
43. She asked about safe investment options through the bank.
• Investment (noun) - Putting money into something (like stocks, bonds, or funds) with the expectation of earning returns.
• Use 'investment' for financial growth strategies. Evaluate risk, returns, and time horizons before committing your funds.
• Customer: I’m interested in a long-term investment. Banker: We can explore mutual funds or CDs to start.
44. Her certificate of deposit will mature next year.
• Mature (verb/adjective) - When an investment or savings product reaches its full term and is available for withdrawal.
• Use 'mature' in reference to time-bound financial products. At maturity, you can choose to withdraw or renew.
• Customer: What happens when my account matures? Banker: You can withdraw the funds or reinvest at a new rate.
45. He chose a 12-month term for his fixed deposit.
• Term (noun) - The length of time or duration for a loan, investment, or deposit product.
• Use 'term' to specify how long a financial agreement lasts. Typically, longer terms can affect rates or penalties.
• Customer: What term options do you have? Banker: We offer 6, 12, or 24-month terms, each with different rates.
46. She paid her car loan in monthly installments over five years.
• Installment (noun) - A recurring payment schedule to repay a loan or debt piece by piece.
• Mention 'installment' when referencing partial payments over time. Ensure you understand the rate and total interest.
• Customer: How does the installment plan work? Banker: You’ll pay a fixed amount each month until the balance is cleared.
47. His mortgage amortization schedule showed each month’s payment breakdown.
• Amortization (noun) - The process of gradually paying off a debt, including both principal and interest, over a set period.
• Use 'amortization' to understand how each payment is allocated. It’s especially relevant for long-term loans like mortgages.
• Customer: How can I see my amortization details? Banker: We can print a schedule showing principal and interest portions.
48. She prefers online banking for quick transfers and bill payments.
• Online banking (noun phrase) - A service allowing customers to manage accounts and conduct transactions via the internet.
• Use 'online banking' to view balances, pay bills, and transfer funds anytime. Keep login credentials secure.
• Customer: Is there a fee for online banking? Teller: It’s free, but some specific services may carry charges.
49. He uses mobile banking to check his balance on the go.
• Mobile banking (noun phrase) - Accessing bank services through a smartphone app for transactions, alerts, and more.
• Use 'mobile banking' for on-the-go account management. Enable two-factor authentication for added security.
• Customer: Is mobile banking secure? Banker: Yes, we encrypt data, but always protect your phone.
50. She had to answer a security question before resetting her password.
• Security question (noun phrase) - A personal question used to verify identity, often in online or phone banking.
• Use 'security question' as an extra layer of account protection. Make the answer memorable yet not easily guessed.
• Customer: I forgot my security question. Teller: We can update your account details in person with your ID.
51. He showed his passport as identity verification at the bank.
• Identity (noun) - Proof of who you are, usually requiring ID documents like a driver’s license or passport.
• Banks require solid proof of 'identity' for account access or opening. Keep your ID current and accessible.
• Teller: I need to verify your identity. Customer: Here’s my government-issued ID.
52. The interest rate on his savings account recently went up.
• Interest rate (noun phrase) - The percentage charged on a loan or paid on deposits over time.
• Use 'interest rate' to gauge how much you’ll earn or owe on financial products. Compare rates to get the best deal.
• Customer: What’s the current interest rate for a one-year deposit? Teller: It’s 2.5% annually at the moment.
53. Her account requires a $500 minimum balance to waive monthly charges.
• Minimum balance (noun phrase) - The least amount of money required in an account to avoid fees or keep it active.
• Check 'minimum balance' requirements before opening an account. Falling below can lead to extra fees or account closure.
• Customer: Why was I charged a fee? Teller: You went below the minimum balance last month.
54. He paid a penalty for withdrawing funds before the CD matured.
• Penalty (noun) - A charge or fee imposed for breaking terms, such as early withdrawal or late payment.
• Ask about 'penalties' before committing to any financial product. Knowing the conditions helps you plan properly.
• Customer: Is there a penalty for an early withdrawal? Banker: Yes, you may lose some interest or pay a fee.
55. He approached the teller window to deposit his paycheck.
• Teller window (noun phrase) - The designated place at a branch counter where tellers assist customers with transactions.
• Use 'teller window' to specify the spot you visit for face-to-face service. Always have your documents ready.
• Security Guard: The teller window will open in a moment. Customer: Okay, I’ll wait here for my turn.
56. She remembered to endorse the check before depositing it.
• Endorse (verb) - To sign the back of a check, authorizing the bank to process it.
• ‘Endorse’ your check exactly as your name appears on the front. This step is required before depositing or cashing it.
• Teller: Please endorse your check. Customer: Sure, I’ll sign the back now.
57. He used a wire transfer to send funds to his family overseas.
• Wire transfer (noun) - An electronic method of sending money from one bank to another, often internationally.
• Use 'wire transfer' for large or urgent payments. There may be fees, so confirm costs and recipient details carefully.
• Customer: How fast is a wire transfer? Banker: It’s typically same-day domestically, though it can vary for international transfers.
58. She needed the SWIFT code to receive money from abroad.
• SWIFT code (noun) - A unique bank identifier used in international wire transfers to direct funds correctly.
• Use 'SWIFT code' for cross-border transactions. Ensure it’s correct to avoid delays or returned payments.
• Customer: Where can I find the SWIFT code? Teller: It’s on our website or I can provide it now.
59. Her IBAN was required for a European bank transfer.
• IBAN (noun) - International Bank Account Number, a standardized format for identifying bank accounts across borders.
• Use 'IBAN' in many countries to identify accounts easily. Double-check each digit to prevent transaction errors.
• Customer: Do I need an IBAN to send money to France? Banker: Yes, it speeds up accurate processing.
60. They deposited money into escrow until all contract terms were satisfied.
• Escrow (noun) - Funds or assets held by a third party until certain conditions are met, often in property deals.
• Use 'escrow' primarily in real estate or large transactions. It protects both buyer and seller by safeguarding funds.
• Customer: How does the escrow process work? Banker: The funds stay in a special account until both parties fulfill the agreement.
61. The company used a lockbox to streamline check payments from customers.
• Lockbox (noun) - A secure service offered by banks to collect and process payments, often for businesses.
• Use 'lockbox' for efficient, secure payment collection. Popular with businesses receiving frequent mailed checks.
• Business Owner: Does your bank have a lockbox service? Banker: Yes, it helps automate your payment handling.
62. His paycheck was delivered via ACH every Friday.
• Automated Clearing House (ACH) (noun phrase) - An electronic network used for financial transactions, like direct deposits and automatic bill payments.
• Use 'ACH' for recurring electronic transfers, such as payroll. It’s widely used in the U.S. for seamless, low-cost payments.
• Customer: How do I set up ACH payments for my rent? Teller: Provide your landlord with your routing and account info.
63. She needed her bank’s routing number to set up direct deposit.
• Routing number (noun) - A nine-digit code used to identify the bank’s location in the U.S. for transfers and payments.
• Use the correct 'routing number' for ACH and wire transfers in the U.S. Mistakes can delay or misdirect your funds.
• Customer: Where do I find my routing number? Teller: It’s on the bottom of your check, next to the account number.
64. He filled out a checking deposit slip before handing over his check and cash.
• Checking deposit slip (noun phrase) - A form used to document money being put into a checking account, listing cash and check details.
• Use a 'checking deposit slip' to ensure accurate processing. Keep a copy if you want proof of transaction specifics.
• Teller: Complete the checking deposit slip, please. Customer: Sure, I’ll list the amounts separately.
65. She made a balance inquiry at the ATM to confirm her funds.
• Balance inquiry (noun phrase) - A request to find out the current balance of an account.
• Use 'balance inquiry' to check how much money you have. It’s often free via ATM, phone, or online banking.
• Customer: I need a balance inquiry. Teller: No problem, here’s your current amount.
66. He kept a copy of the cancelled check as proof of payment.
• Cancelled check (noun phrase) - A check that’s been cleared or processed by the bank, no longer valid for further transactions.
• Use 'cancelled check' as evidence that a payment has been processed. Some banks keep digital records for easy retrieval.
• Customer: Can I get a copy of the cancelled check? Teller: Yes, we can provide a digital image or a printout.
67. He presented two forms of proof of identity when opening the account.
• Proof of identity (noun phrase) - Documentation verifying a person’s name and personal details, e.g., driver’s license or passport.
• Always carry 'proof of identity' for important banking tasks like account opening or large transactions.
• Teller: I’ll need proof of identity. Customer: Here’s my passport and a photo ID.
68. She brought a utility bill to confirm her residence when opening a bank account.
• Utility bill (noun phrase) - An invoice for services like electricity, water, or gas, often used as proof of address.
• Keep recent 'utility bills' handy if you need to verify where you live. They’re widely accepted in banks and offices.
• Teller: Do you have proof of address? Customer: Yes, here’s my latest utility bill.
69. The bank manager helped resolve a complicated account issue.
• Bank manager (noun) - The person in charge of a bank branch, overseeing operations and handling major customer concerns.
• Request the 'bank manager' if you have escalated issues or need approvals beyond a teller’s authority.
• Customer: May I speak to the bank manager? Teller: Certainly, I’ll inform them of your concern.
70. He paid an overdraft fee after his debit transaction pushed his account below zero.
• Overdraft fee (noun phrase) - A charge levied when a transaction exceeds the available account balance.
• Check your balance before large purchases to avoid 'overdraft fees.' Consider overdraft protection if offered.
• Customer: How can I avoid overdraft fees? Teller: You can set up an alert or link a savings account for coverage.
71. Her account freeze happened after multiple failed login attempts.
• Account freeze (noun phrase) - When a bank restricts transactions on an account, often due to suspicious activity or legal reasons.
• An 'account freeze' stops all access to funds. Contact the bank immediately to resolve the underlying issue.
• Customer: Why can’t I withdraw money? Teller: Your account is frozen pending verification of recent activity.
72. A fraud alert was triggered after unusual charges appeared on his debit card.
• Fraud alert (noun phrase) - A warning placed on an account or credit report to caution about possible unauthorized activities.
• Use 'fraud alert' if you suspect illegal activity. It signals the bank or credit agencies to verify future transactions more carefully.
• Banker: We’ve put a fraud alert on your account. Customer: Thanks for keeping my funds safe.
73. He used a cashier’s check to finalize the car purchase.
• Cashier’s check (noun phrase) - A check issued by the bank itself, guaranteeing the funds, paid for upfront by the customer.
• Use 'cashier’s check' for high-value or secure transactions. The bank’s guarantee makes it safer than a personal check.
• Customer: How do I get a cashier’s check? Teller: You pay the total amount plus a small fee, and we issue it immediately.
74. She provided a certified check as proof of payment for the home deposit.
• Certified check (noun phrase) - A personal check verified by the bank, ensuring the account has sufficient funds.
• Use 'certified check' to offer assurance of funds. The bank confirms the money is available and earmarked.
• Customer: Is a certified check different from a cashier’s check? Teller: Yes, a certified check is your own check validated by the bank.
75. He reconciled his checking account monthly to catch any errors.
• Reconcile (verb) - To compare your record of transactions with the bank’s statement to ensure accuracy.
• Use 'reconcile' to match your personal records with official bank statements. This helps catch mistakes or fraud.
• Customer: I found a discrepancy while reconciling my statement. Teller: Let me check the transaction details for you.
76. Her utility bills are paid via direct debit each month.
• Direct debit (noun phrase) - An arrangement allowing a business or individual to withdraw payments automatically from your account.
• Use 'direct debit' to automate recurring payments. Always confirm the schedule and amount to avoid surprises.
• Customer: How do I set up direct debit for my phone bill? Teller: You’ll provide them with your account info for automatic withdrawal.
77. He preferred over-the-counter deposits to ensure personal service.
• Over-the-counter (adjective phrase) - A transaction done face-to-face at a bank’s counter rather than electronically or via ATM.
• Use 'over-the-counter' for transactions requiring direct assistance from a teller. It can be more personal but may take longer.
• Customer: Can I make an over-the-counter withdrawal? Teller: Of course, please fill out a slip and show ID.
78. The bank’s security camera captured footage of suspicious behavior.
• Security camera (noun) - A device that records video for safety and surveillance inside the bank.
• Be aware that banks have 'security cameras' for protection. They help deter robbery and record incidents if they occur.
• Bank Manager: We monitor all activity with security cameras. Customer: That’s reassuring to know.
79. Her credit limit was increased after she showed consistent on-time payments.
• Credit limit (noun phrase) - The maximum amount a user can borrow on a credit card or line of credit.
• Keep track of your 'credit limit' to avoid overcharging. Exceeding it might result in fees or declined transactions.
• Customer: Can I raise my credit limit? Banker: We’ll review your credit score and account history first.
80. They opened a joint account to manage household expenses together.
• Joint account (noun phrase) - An account shared by two or more individuals, granting each person equal access and responsibilities.
• Use 'joint account' if you want shared access and responsibility for funds. All parties have transaction privileges.
• Customer: We’d like a joint account. Teller: Both of you will need to provide your IDs and sign.
81. She manages her personal finances through a single account.
• Single account (noun phrase) - An account opened and operated by only one person with exclusive control.
• Use 'single account' if you prefer to manage finances independently. No one else can access or withdraw without authorization.
• Customer: I just need a single account, in my name only. Teller: No problem; let’s gather your information.
82. He signed a signature card when opening his account.
• Signature card (noun phrase) - A physical card on which a customer’s official signature is recorded for bank verification.
• Your signature on file helps the bank confirm your identity for checks or documents, so keep it consistent.
• Teller: Please fill out this signature card. Customer: Sure, I’ll match it to my ID exactly.
83. She made a cash deposit to ensure her account balance covered upcoming bills.
• Cash deposit (noun phrase) - Placing physical currency into your bank account.
• Use 'cash deposit' when you bring physical money to the bank. Count it beforehand and get a receipt.
• Teller: Do you have a deposit slip? Customer: Yes, I’m making a cash deposit of $300.
84. He uses the bank’s bill pay feature to handle rent and utility charges.
• Bill pay (noun phrase) - A service allowing you to schedule payments to businesses or individuals electronically.
• Use 'bill pay' to manage regular expenses from your account. It reduces late fees and simplifies recurring payments.
• Customer: How do I set up bill pay online? Teller: You add your payee details, then schedule one-time or recurring payments.
85. She uses a debit card for most everyday transactions.
• Debit card (noun phrase) - A payment card linked to a checking account, deducting money directly for each purchase.
• Use 'debit card' to access your money directly. Keep your PIN safe; lost or stolen cards risk unauthorized transactions.
• Customer: Can I get a new debit card? Teller: Yes, we’ll issue one and mail it within a week.
86. He uses his credit card for online shopping and pays the bill monthly.
• Credit card (noun phrase) - A card allowing purchases on credit, with the obligation to pay the balance later, possibly with interest.
• Use 'credit card' for short-term loans on purchases. Paying off the balance in full avoids interest charges.
• Customer: Can I apply for a credit card here? Banker: Sure, let’s check your credit history.
87. She waited for authorization at the cashier before finalizing the purchase.
• Authorization (noun) - Bank approval for a transaction, ensuring the cardholder has sufficient funds or credit.
• Use 'authorization' to confirm or permit a transaction. Lack of approval can lead to a declined purchase or hold on funds.
• Cashier: The payment is pending authorization. Customer: That’s fine, I have enough in the account.
88. He withdrew several bank notes from the ATM.
• Bank note (noun) - Paper money issued by a central bank, serving as a country’s legal tender.
• Use 'bank note' to describe physical currency, typically used for everyday cash transactions.
• Customer: Can I exchange these old bank notes? Teller: Yes, we can provide new bills of the same amount.
89. She went to the bank to exchange dollars into euros.
• Exchange (noun/verb) - To convert one currency into another, or the act of swapping items of equal value.
• Use 'exchange' for currency conversion or trading equal-value items. Check rates before deciding where to exchange for the best deal.
• Customer: Can I exchange currency here? Teller: Absolutely, let me check today’s rates.
90. He avoided an ATM fee by using his bank’s own machine.
• ATM fee (noun phrase) - A charge for using an automated teller machine, often from an out-of-network bank.
• Look out for 'ATM fees' when withdrawing from machines not owned by your bank. Check your bank’s network for surcharge-free ATMs.
• Friend: Why pay a $3 ATM fee? Customer: I’ll find my bank’s ATM to skip that cost.
91. She opted for an e-statement to reduce paper clutter.
• E-statement (noun) - An electronic version of your account statement, accessible online or via email.
• Use 'e-statement' to get digital transaction records. It’s eco-friendly and offers easy storage in your email or computer.
• Teller: Do you prefer paper or e-statement? Customer: I’ll go with e-statement—it’s more convenient.
92. He hit his daily transaction limit when trying to withdraw more cash.
• Transaction limit (noun phrase) - A maximum amount or frequency allowed for specific transactions within a certain period.
• Ask about your 'transaction limit' for ATM or online transfers. Plan larger withdrawals in advance or request a limit increase.
• Customer: Why is my withdrawal declined? Teller: You’ve reached your transaction limit for today.
93. She rushed to the bank before it closed at 4 PM—classic banker’s hours.
• Banker’s hours (noun phrase) - A colloquial term referring to the shorter operating hours some banks traditionally observe.
• Use 'banker’s hours' informally to note limited business times. Many banks now offer extended hours or online options.
• Friend: Are they still open? Customer: No, they have banker’s hours, so they’re already closed.
94. He couldn’t do any transactions on Monday because it was a bank holiday.
• Bank holiday (noun phrase) - A public or legal holiday when banks and some businesses close, common in the UK and Ireland.
• In some regions, 'bank holiday' means widespread closures. Plan your transactions around these days to avoid inconvenience.
• Customer: Are you open on the bank holiday? Teller: No, we’ll reopen the following business day.
95. Bank lending policies tightened, making it harder to get large loans.
• Lending (noun/verb) - The act of providing money on the condition it’s repaid with interest; relates to bank loans.
• Use 'lending' to discuss the bank’s approach to providing funds. Borrowers must meet credit and repayment criteria.
• Customer: Are you still lending to small businesses? Banker: Yes, we have a program with flexible repayment terms.
96. She locked her funds into a one-year CD for a better rate.
• Certificate of Deposit (CD) (noun phrase) - A savings option with a fixed interest rate and term, usually yielding higher returns than a regular savings account.
• Use a 'CD' to earn higher interest for a set term. Early withdrawals often incur penalties, so plan accordingly.
• Customer: What’s the current CD rate for 12 months? Teller: It’s 3.0% APY right now.
97. He covered the PIN pad while typing his code to prevent anyone from seeing.
• PIN pad (noun) - A keypad for entering your Personal Identification Number, often at ATMs or point-of-sale terminals.
• Use 'PIN pad' for secure entry of your code. Shield it from view to protect against fraud.
• Cashier: Please enter your PIN on the PIN pad. Customer: Okay, let me shield it for privacy.
98. She switched to a different account type to avoid monthly charges.
• Monthly charges (noun phrase) - Recurring fees applied to an account, such as maintenance costs or service fees.
• Ask the bank about 'monthly charges' before opening an account. Some can be waived if you meet certain conditions.
• Customer: How can I reduce monthly charges? Teller: Keep your balance above $1,000 or set up direct deposit.
99. Her purchase was declined because she went over-limit on her card.
• Over-limit (adjective/noun) - A status where a credit or line-of-credit balance exceeds the approved threshold.
• Monitor your credit usage to avoid going 'over-limit,' which may result in fees or negative credit score impacts.
• Customer: Why did my card stop working? Teller: You’re over-limit, so you need to pay down your balance.
100. He received a call from the bank about suspicious activity on his debit card.
• Suspicious activity (noun phrase) - Unusual account movements or transactions that may indicate fraud or unauthorized use.
• If you spot 'suspicious activity,' contact your bank immediately to prevent further unauthorized transactions.
• Banker: We’re blocking your card due to suspicious activity. Customer: Thank you for letting me know. I’ll confirm which charges are valid.