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  • Hi, everyone. I'm Alex. Thanks for clicking, and welcome to this lesson on "Bank Vocabulary".

  • Today, we're going to talk about going to the bank, and the different things you can

  • do, and the different verbs associated and nouns associated with this very common experience.

  • So, first, when you enter the bank, you have to "get in line" or "get in the queue". Now,

  • specifically, in the United States, even in Canada, we use the word "line" when you're

  • waiting to see someone at the bank. If you are in other parts of the world, specifically

  • England, you can also call a line a "queue", so you get in the queue or get in line.

  • Next, once it's your turn to, you know, do your business at the bank, you see a

  • "bank teller". So, the name of the person who helps you at the bank is the teller. And after you

  • see the bank teller, if you already have an account with the bank, you have to use your

  • bank card and put in your "PIN". Your "PIN" is your personal identification number, your

  • code, your password. Right?

  • Now, once this is done, you're ready, the bank teller can see your account. Or maybe

  • it's your first time and you didn't put in a PIN, there are different things you can

  • do and ask for when you're at the bank. Number one, you can say:

  • "Hi. I'd like to open an account", or "close an account".

  • Now, again the two most common types of accounts at a

  • bank are a checking account and a savings account. So your checking is your everyday

  • spending. This is what you use your debit card for. Right? So, I'm just going to put

  • "debit card" here.

  • Your debit card is your bank card, and this is what you use to make

  • payments when you go out to restaurants, movie theaters, etc.

  • Okay, you can also transfer money when you are at the bank. So if you'd like to move

  • some money from your checking account, for example, to one of your other accounts, such

  • as a savings account or maybe a joint account that you have with your partner, husband,

  • wife, etc., you can ask to do that. You can say:

  • "Hi. I'd like to transfer $200 from my checking account to my savings account."

  • And again, this is if you don't do online banking,

  • which solves a lot of these issues.

  • Now, instead of transferring money, you can also "deposit" money or "make a deposit".

  • This means you are putting money into your accounts. So if you, you know, receive a check

  • from the government, for example, or maybe your workplace still gives checks (it still

  • happens, it does), you can deposit that check. And "deposit it" means put that money into

  • your account. You can "withdraw". Now, "to withdraw" is to take out money. So, these

  • two are really the most common verbs when you're talking about exchanging money with

  • the bank, whether you're in the bank or at an ATM machine. So you deposit, which means

  • you put money in; withdraw means you take money out. So you can withdraw or take out

  • money. And the term we can also use is you can make a "withdrawal". And you'll see the

  • "al" here, this means that, again, this is a noun in this case. The verb, there's no

  • "al" at the end; it's just "withdraw". Withdraw money.

  • You can "pay a bill". So, again, bills are our favourite things in the world, like pay

  • for your electricity at your house, or your television, internet, etc. Now, again, this

  • doesn't only have to be for those common things, because most people today, you have an automatic

  • withdraw happens when you pay for a bill. But again, sometimes you get something where

  • you have to go to the bank to pay the bill. If you get something from the Ministry of

  • Transportation or something from the government, and it's unclear what you have to do to pay

  • something online, you can go to the bank and you can pay that bill.

  • Also, you can "exchange currency". So if you are travelling somewhere and you only have

  • money from your country, you can change that money. And again, the name for "money" in

  • this case is "currency", like the dollar is one type of currency, the yen is another type

  • of currency. And you can ask the bank: "What's your rate?" because different places, exchange

  • offices, banks, will have different rates for your currency. So, for example, the bank

  • might say, if I'm travelling from Canada to the United States, they might say:

  • "95 cents per dollar." Okay? So for every dollar that I have Canadian, I receive 95 cents American.

  • Also, you can get everyone's favourite thing, which is a "credit card". So you can get a

  • credit card from the bank. You can say: "I'd like to get a credit card",

  • or "open a credit account".

  • If there are more specific things that a teller can't help you with, you need to see a specialist

  • at the bank about certain things, these are three very common things that people talk

  • about at the... At the bank or ask to see someone at the bank for. You can say:

  • "I'd like to talk to someone, talk to someone about a mortgage."

  • Now, a "mortgage" is what you

  • have when you purchase a house. When you buy a home, you also get a mortgage. And, again,

  • this means the money that you have to pay for your house, this is your mortgage. You

  • can talk to someone about "investments". So, again, these are ways to make more money,

  • or mutual funds is one example where you give money to the bank, and someone puts that money

  • somewhere, and you hope that they make you more money for you. And, finally:

  • "I'd like to talk to someone about retirement savings." "Retirement" means that you're not going to

  • work anymore. In many countries, the retirement age is different, it's 65, or 67, or 68, or 60.

  • But if you'd like to save for the time when you are no longer working, you can ask

  • to speak to someone about retirement savings.

  • Whew, that's a lot of information. Just to quickly review, when you go to the bank, you

  • get in the line/get in the queue. You see the bank teller, put in your PIN. You can

  • ask and say: "I'd like to open an account.", "I'd like to close an account.",

  • "I'd like to open a checking account", or "a savings account",

  • "I'd like to transfer money or funds.",

  • "I'd like to deposit something", "make a deposit", "withdraw", "take out money",

  • "pay a bill", "exchange currency", "get a credit card",

  • or talk to someone about a mortgage, investments,

  • or retirement savings.

  • So, again, this is a very common experience, which is why these words, this type of vocabulary

  • is really key if you are going to be in anywhere where you are speaking to someone in English

  • at the bank. If you'd like to test your understanding of this material, as always,

  • you can do the quiz on www.engvid.com. And don't...

  • Don't forget to subscribe to my YouTube channel.

  • See you, guys.

Hi, everyone. I'm Alex. Thanks for clicking, and welcome to this lesson on "Bank Vocabulary".

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A2 US bank account withdraw deposit teller card

Real English Vocabulary: At the BANK

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