Financial Vocabulary Flashcards

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Cash

Back

Money in the form of notes and coins. Example: I paid for the groceries in cash.

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Debit card

Back

A card that takes money directly from your bank account when you buy something. Example: I used my debit card to pay for lunch.

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Credit card

Back

A card that allows you to borrow money from the bank to make purchases. Example: She bought the laptop with her credit card.

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Cheque

Back

A written order to a bank to pay a stated amount from your account. Example: He wrote a cheque for the rent.

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In advance

Back

Before a particular time or event. Example: We booked the hotel room in advance.

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Annual fee

Back

A payment made once every year for a service. Example: This credit card has no annual fee.

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Monthly membership

Back

A fee paid each month to be part of a club or service. Example: I have a monthly membership at the gym.

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Interest rate

Back

The percentage charged by a bank for borrowing money, or paid for saving money. Example: The bank increased its interest rate this year.

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Deposit

Back

Money placed into a bank account, or paid as security for something. Example: I paid a deposit to reserve the apartment.

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Tuition fees

Back

The money you pay to attend a school, college, or university. Example: University tuition fees have increased.