Search blog

What are the English names of banks? 195+ banking and financial words

Banking and financial vocabulary in English is one of the most difficult topics. In addition to understanding expertise in the banking field, having a strong grasp of the English names of banks and financials vocabulary will help you quickly conduct transactions related to deposits, and withdrawals both domestically and internationally. In this article, PREP will help you comprehensively summarize the English names of banks!

I. English names of banks
II. Common sample phrases in the bank environment
1. 1. Sample phrases for customers
2. 2. Sample phrases for bankers
III. Exercises on English names of banks
IV. Take the First Step Towards IELTS Success

I. English names of banks

Before learning the English names of banks, let's expand our vocabulary with some banking and financial terms such as banking job titles, bank accounts, bank cards, and general types of banks!

1. Common positions in banks

Vocabulary related to common positions in banks

Vocabulary related to common positions in banks	Meaning
Accounting Controller	the lead accounting professional and oversees maintaining and implementing efficient accounting processes in a company
Product Development Specialist	The person whose job is to develop products, strategies, and business plans for upcoming products within their company
Market Development Specialist	responsible for creating advertising campaigns, pricing strategies and targeting the demographic data of their target audience
Big Business Customer Specialist	responsible for providing big businesses with a wide range of financial services
Personal Customer Specialist	a professional who is responsible for handling questions, comments, and complaints regarding a particular business
Financial Accounting Specialist	a financial professional who manages all forms of financial accounts within an organization
Marketing Staff Specialist	responsible for creating advertising campaigns, pricing strategies and targeting the demographic data of their target audience
Valuation Officer	research and analyse all the collected data before they can estimating the most appropriate value and producing the final written report
Information Technology Specialist	providing support and services related to software, hardware, databases, web resources, networks and enterprise systems
Marketing Officer	Overseeing the marketing department and provides direction and feedback on major projects
Cashier	a person whose job is to receive and pay out money in a bank, shop, hotel, etc.

2. Types of bank accounts

Vocabulary related to types of bank accounts

Vocabulary related to types of bank accounts	Meaning
Bank Account	an arrangement that you have with a bank that allows you to keep your money there, to pay in or take out money, etc.
Personal Account	a bank account for use by an individual for that person's own needs
Current Account/Checking Account	a type of bank account that you can take money out of at any time, and that provides you with a debit card and (sometimes) a chequebook
Deposit Account	a type of bank account that pays interest on the money that is left in it, but from which you cannot take the money out without giving notice or losing interest
Savings Account	a type of bank account that pays interest on the money that is left in it, but from which you cannot take the money out without giving notice or losing interest
Fixed Account	an account opened with a bank wherein, the bank pays a guaranteed interest rate on the sums deposited in a Fixed Deposit account, for a stipulated period or tenure

3. Types of cards

Vocabulary related to types of card	Meaning
Credit Card	a small plastic card that you can use to buy goods and services and pay for them later
Debit Card	enlarge imagea plastic card that can be used to take money directly from your bank account when you pay for something
Charge Card	a type of credit card on which the whole amount owed must be paid each month
Prepaid Card	a small plastic card that has money added to it electronically and that can be used to pay for things such as items in shops, mobile phone minutes or data, electricity, and petrol
Check Guarantee Card	a small plastic card that you sometimes show when you pay for something by cheque as proof that your bank will pay the money you owe
Visa	A card that gives you the convenience and security to make purchases, pay bills, or get cash from over 2 million ATMs worldwide
Bank card	a plastic card provided by your bank that may be used as a debit card or to get money from your account out of a machine

4. Others

Other English words about banking and finance

Other English words about banking and finance	Meaning
Account holder	the person who signs the contract for said account with the bank
Banker	a person who owns a bank or has an important job at a bank
Cashier	a person whose job is to receive and pay out money in a bank, shop, hotel, etc.
Broker	a person who buys and sells things for other people
Cardholder	a person who has a credit card from a bank, a loyalty card from a shop, etc.
Invest	to buy property, shares in a company, etc. in the hope of making a profit
Investor	a person or an organization that invests money in something
Tycoon	a person who is successful in business or industry and has become rich and powerful
Venture capital	money that is invested in a new company to help it develop, which may involve a lot of risk
Asset	a person or thing that is valuable or useful to somebody/something
Collateral	property or something valuable that you promise to give to somebody if you cannot pay back money that you borrow
Commodity	a product or a raw material that can be bought and sold
Capital	the most important town or city of a country or region, where the government operates from
Accounts payable	money that is owed by a company; the department of the company that deals with paying this money
Accounts receivable	money that is owed to a company; the department of a company that deals with this money, sending out invoices, etc.
Margin account	an account that holds a client's assets for a broker as the margin that protects the broker from loss
Balance	the amount that is left after taking numbers or money away from a total
Amortization	the practice of paying back a debt by making small regular payments over a period of time
Accruals basis	a method used in accounting in which amounts of money are recorded at the time something is bought or sold, although payments may not yet have been made or received
Arbitrage	the method on the stock exchange of buying something in one place and selling it in another place at the same time, in order to make a profit from the difference in price in the two places
Authorize	to give official permission for something to happen, or to give someone official permission to do something
Bankrupt	unable to pay what you owe, and having had control of your financial matters given, by a law court, to a person who sells your property to pay your debts
Bankruptcy	a situation in which a business or a person becomes bankrupt
Bearer cheque	a cheque that is considered to be owned by the person who has it in their possession, rather than by a named person
Boom	a deep and loud hollow sound
Cash basis	a method of keeping accounts in which amounts of money are recorded at the actual time they are spent or received
Crossed cheque	any check that is crossed with two parallel lines, either across the whole check or through the top left-hand corner of the check
Internet banking	the use of the internet to organize, examine, and make changes to your bank accounts and investments, etc. electronically, or the use of the internet by banks to operate accounts and services
Non-card instrument	A payment method that doesn’t use cash
Cash card	a plastic card used to get money from a cash machine (= a machine in or outside a bank)
Cash point	a machine in or outside a bank, shop, etc., from which you can get money from your bank account using a special plastic card
Certificate of deposit	a type of investment in which customers earn interest for saving their money for a fixed period of time, or the document which shows this investment
Charge card	a small, plastic card that you get from a particular shop and use to buy goods from it that you can pay for later
Cheque	a printed form, used instead of money, to make payments from your bank account
Deposit money	part of the cost of something such as a product or property that is paid to the seller, so it will not be sold to anyone else
Circulation	the process in which something such as information, money, or goods passes from one person to another
Code word	a word or sign with a special meaning, or a word used to keep something secret
Cost of capital	the amount of money that a company must pay out in dividends to it shareholders, and in interest on bonds and other loans
Cumulative	increasing by one addition after another
Debit balance	an amount of money in a bank account, etc. which is less than zero because more money was taken out of it than the total amount that was paid into it
Debit	(a record of) money taken out of a bank account
Direct debit	an arrangement for making payments, usually to an organization, in which your bank moves money from your account into the organization's account at regular times
Debt	something, especially money, that is owed to someone else, or the state of owing something
Depreciation	to (cause something to) lose value, especially over time
Dispenser	a machine or container that you can get something from
Draw	to make a picture of something or someone with a pencil or pen
Encode	to change something into a system for sending messages secretly, or to represent complicated information in a simple or short way
Expiry date	the date at which a document, agreement, etc. has no legal force or can no longer be used
Fiduciary	relating to the responsibility to take care of someone else's money in a suitable way
Decode	to discover the meaning of information given in a secret or complicated way
Fund	an amount of money saved, collected, or provided for a particular purpose
Give credit	the process of extending a financial arrangement in which a bank provides funds to a borrower, allowing them to access and use money up to a certain limit
Hedge fund	an investment fund involving a group of people who take high risks with their investments in order to try and make a lot of money
Interest	the extra money that you pay back when you borrow money or that you receive when you invest money
Invoice	a list of goods that have been sold, work that has been done, etc., showing what you must pay
Letter of authority	a legal document that authorises a third party to correspond with service providers on behalf of you and your business
Leverage	to get as much advantage or profit as possible from something that you have
Liability	the state of being legally responsible for something
Money market	the trade in short-term loans between banks and other financial institutions
Mortgage	a legal agreement by which a bank or similar organization lends you money to buy a house, etc., and you pay the money back over a particular number of years; the sum of money that you borrow
Premium	an amount of money that you pay once or regularly for an insurance policy
Profit	the money that you make in business or by selling things, especially after paying the costs involved
Real estate	property in the form of land or buildings
Recession	a difficult time for the economy of a country, when there is less trade and industrial activity than usual and more people are unemployed
Short selling	the activity of selling shares that you have borrowed, hoping that their price will fall before you buy them back and return them to their owner, so that you make a profit
Revenue	the income that a government or company receives regularly
Saving	the money that you keep in an account in a bank or similar financial organization
Statement	something that someone says or writes officially, or an action done to express an opinion
Bond	a close connection joining two or more people
Stock	a supply of something for use or sale
Dividend	the profit of a company that is paid to the people who own shares in it
Treasury stock	company’s shares that it buys back from shareholders, for example instead of paying dividends or when it wants to reduce the number of existing shares
Equity	the value of a company, divided into many equal parts owned by the shareholders, or one of the equal parts into which the value of a company is divided
Growth stock	shares that are expected to increase in value rather than to pay high dividends (= regular payments of part of a company's profits)
Shareholder	a person who owns shares in a company and therefore gets part of the company's profits and the right to vote on how the company is controlled
Treasury bill	a form of borrowing by a national government, especially the US government, for a period of time of less than one year on which interest is paid at the end of the borrowing period
Volatility	the quality or state of being likely to change suddenly, especially by becoming worse
Inflation	a general, continuous increase in prices
Deficit	the total amount by which money spent is more than money received, or the state of having spent more money than has been received

5. Types of banks

Vocabulary related to types of banks	Meaning
Commercial Bank	a bank with branches in many different places that offers services to people and businesses, for example, keeping money in accounts and lending money
Investment Bank	a bank that helps companies sell and buy shares, or helps them buy other companies or merge (= join together) with each other
Retail Bank	a bank that provides services to the public and to small businesses rather than to large companies or organizations
Central Bank	a bank that provides services to a national government, puts the official financial plans of that government into operation, and controls the amount of money in the economy
Internet bank	a bank that operates over the internet
Regional local bank	A bank in an area

II. Common sample phrases in the bank environment

What are the common communication situations we often encounter in financial banking? In the below section, PREP provides a complete set of frequently used communication phrases that occur, so that you can confidently use banking services both domestically and internationally!

1. Sample phrases for customers

1.1. Opening and Closing a Bank Account

Sample phrases for customers in financial banking

I would like to open a new savings account at your bank.
Could you please guide me through the process of setting up a checking account?
What documents do I need to provide in order to open a bank account here?
What is the minimum allowed savings account to be deposited in your bank?
I’m interested in starting a joint account with my spouse. How do we proceed?
I’d like to open an account.
I want to open a new account. Do you have this service?
I intend to close my account. What should I do?
Can you explain the procedure for closing a bank account and withdrawing the remaining balance?

1.2. Depositing money into a bank

Excuse me, I’d like to deposit money into my account.
Can I deposit both cash and a check in the same transaction?
Is there a minimum level to how much I can deposit at once?
Can I get a receipt for the deposit, please?
When will the money come to my ACB account?
What is the maximum trade for the day?
Can I know my balance in the BIDV account?
I would like to deposit … million into my account.

1.3. Withdrawing money from a bank

I’d like to make a withdrawal from my savings account.
Could you please assist me in withdrawing some funds from my checking account?
What’s the procedure for withdrawing cash from an ATM?
I need to take out a certain amount of money from my account. How can I do that?
Is there a withdrawal limit per day for my account type?
I’d like to request a withdrawal of …. from my account, please.
Can you confirm the available balance in my account before I make a withdrawal?
Do I need to provide any identification when making a withdrawal at the bank counter?
Are there any fees associated with making a withdrawal from a different bank’s ATM?
How long does it usually take for a withdrawal transaction to be processed and reflected in my account balance?

1.4. Bank interest

Could you provide information about the current interest rates for savings accounts?
What are the interest rates for fixed-term deposits at the moment?
I really want to open a new MB account. Could you please tell me the interest rates for different types of accounts?
How often are the interest rates reviewed and updated?
Are there any special promotional interest rates available for new customers?
Can you explain how the interest is calculated on a savings account?
What is the annual percentage yield (APY) for your high-yield savings accounts?
Do you offer tiered interest rates based on the account balance?
Are there any penalties for withdrawing money from a savings account before the maturity date?
Can I lock in a fixed interest rate for a specific period if I open a certificate of deposit?

2. Sample phrases for bankers

Sample phrases for bankers

How much do you want to withdraw?
How much money do you want to deposit with us?
Would you like to make a withdrawal or make a deposit?
Every month, the interest is added to your VCB account.
I am so sorry to inform you that your Identification Card is out of date.
When you deposit or withdraw money, please bring the passbook.
Here is your passbook.
Please fill in this form first before doing the next step.
Please enter the password.
Your deposit is exhausted.
Please, can you write your account number on the back of the check?
Just sign your name in it.

III. Exercises on English names of banks

To help you further reinforce your vocabulary in finance and banking, including bank names in English, PREP will provide some exercises for you to practice.

Exercise: Fill in the blanks with the appropriate word: Bank Account, Deposit Account, Current Account, Personal Account, Saving Account.

I need to open a _______ to manage my finances.
She uses her _______ for daily expenses and bills.
A _______ t allows you to write checks and access your funds easily.
The bank offers various types of _______ with different interest rates.
I’ve been putting money into my _______ every month to build an emergency fund.

Answer keys:

bank account
personal account
current account
deposit accounts
savings account

IV. Take the First Step Towards IELTS Success

Hopefully, the article about English names of banks shared by PREP will provide you with useful information. If you’re aiming for IELTS excellence, explore these top-notch resources designed for high achievers below:

IELTS full course: Master Every Section of IELTS

Master Tu Pham

Founder/CEO at Prep

Founder of Prep Smart Test Preparation Platform. With over 10 years of experience in teaching and test preparation, Mr. Tú has helped thousands of students achieve high scores in the IELTS exam. In addition, Mr. Tú Phạm is also a consulting expert in British Council programs and a speaker at many leading educational events, programs, and conferences.