| account |
If you have an account at a bank, it means that you can keep your money there. You can put more money into your account or take money out of your account when you need it. The bank sends a letter by mail each month to tell you how much money you have in your account. Some people don't get a letter but see their account on their computers. [1/5 definitions] |
| approve |
When the government approves something, it means that they have studied it or tested it in some way and they think it is OK. If a bank approves someone's loan, it means that they have looked carefully at this person's ability to pay back the loan, and they have decided to say yes to lending him or her the money. [1/3 definitions] |
| ATM |
An ATM is a machine where people can get money out of their bank account without actually going to their bank or into their bank's building. People can also put money into their account at an ATM. The letters "ATM" stand for "automated teller machine." A "teller" is a real person who works behind the counter in a bank. An ATM does the main things that a teller does. |
| bank1 |
The bank of a river or stream is the ground right next to it. [2 definitions] |
| bank2 |
to do business at a bank. [1/3 definitions] |
| cage |
a similar structure that carries or protects people, such as an elevator car or a bank cashier's cage. [1/4 definitions] |
| cashier1 |
a person whose job is to handle the money in a bank. [1/2 definitions] |
| cash machine |
a bank machine used for dispensing cash and other transactions. |
| check |
a written order to a bank to pay money from an account. [1/11 definitions] |
| credit |
Credit is the right to buy things when you want to and not have to pay for them until later. Usually, you can only get credit from a bank or store, for example, if they feel sure you will pay what you owe at the later time. If you get credit from a bank, it means that they will pay for the things you want to buy now, but you have to pay the bank back later. [1/4 definitions] |
| credit card |
a card from a bank or store that lets a person buy things and pay for them later. |
| deposit |
to hand over to a bank or other safe place. [2/7 definitions] |
| drift |
a mass or bank made up of drifting matter such as snow. [1/5 definitions] |
| finance |
(plural) the money owned by a person, bank, government, or other institution; funds. [1/3 definitions] |
| interest |
If you borrow money from a bank, you have to pay the money back, but you also have to pay the bank some money on top of that. This extra money that you have to pay is called "interest." By charging interest, the bank makes money when they give people loans. Interest is a little like rent. If you rent a boat, you can use the boat, but you have to give the boat back, and you have to pay some money to use it. In banking, that money is called "interest." [1/7 definitions] |
| invest |
When someone invests their money, they do something with it so that they can make more money. Some people invest their money in a bank, for example. If they keep their money there, the bank will pay them a little money each month called "interest." People don't make a lot of money when they invest it in a bank, but the money is usually safe. There are many ways to invest money, and investing one's money is very common. [1/2 definitions] |
| lend |
When a bank lends you money, they give you money which you have to pay back over time. Banks lend money because they make money when they do it. They make money from something called "interest." Interest is something like a fee that you have to pay in addition to paying back the money you borrowed. [1/3 definitions] |
| loan |
When a bank loans money, they give money to people for a certain amount of time. During this time, the money must be paid back, and it must be paid back with "interest." Interest is extra money that people have to pay on top of the money they borrow. It is like a fee for using the money. [1/4 definitions] |
| mortgage |
a written agreement by which a bank or other institution agrees to lend money so that one can buy a property. The bank holds a claim to this property until the money is paid back. |
| piggy bank |
a small bank in which coins are put through a slot and saved. Piggy banks are in the shape of a pig. |
| statement |
A statement is a report of a person's account with a bank or company. A statement tells the person how much money they have or how much money they owe. [1/3 definitions] |