ILSPT (08) - Basic English Vocabulary for Banking and Finance

bank statement

a record of the money put into and removed from a bank account (wyciąg z konta)

low/high-interest overdraft

if you have an overdraft, you have taken more money out of your bank account than you had in it (nisko-/wysokooprocentowany kredyt/debet)

interest

the extra money that you must pay to a bank, company, etc which has lent you money (oprocentowanie/odsetki)

in credit account

account with no charges (ponad kreską/na plusie)

overdrawn (account)

if you are overdrawn, you have taken more money out of your bank account than you had in it (zadłużony)

to clear (cheques)

if a cheque (= printed paper used to pay for things) clears, the money goes from one person's bank account to another person's bank account (zaksięgowane)

counterfoil

a section able to be detached or removed from a cheque/check etc and kept by the giver as a receipt (folia przeciwbieżna)

banker's draft

a written order for money to be paid by a bank, especially to another bank (weksel bankierski)

overdraft facility

a feature of a bank account that allows a customer to temporarily owe money to the bank kredyt w rachunku bieżącym)

overdraft limit

the largest amount of money that a bank allows you to borrow from them (dopuszczalny limit debetu)

banker's reference

a statement from a customer which proves that he/she is likely to be able to pay back a loan, etc. (referencja bankowa)

creditworthy

has enough money or property for banks and other organizations to be willing to lend them money (posiadający zdolność kredytową)

standing orders

regular automatic payments of the same amount (zlecenia stałe)

direct debits

regular automatic payments of varying amounts (polecenia zapłaty)

withdrawal

when you take money out of a bank account (wypłata)

title deeds

a document which proves who owns a property (tytuł/akt własności)

mortgage

an agreement that allows you to borrow money from a bank or similar organization, especially in order to buy a house, or the amount of money itself (hipoteka)

repossession order

a legal document that allows a bank or other company to repossess someone's house, car, etc. (nakaz przejęcia)

evicted

someone forced to leave somewhere (eksmitowany)

last resort

the only choice that remains after all others have been tried (w ostateczności)

mortgage holder

mortgage borrower (posiadacz kredytu)

mortgaged up to the hilt

when somebody's mortgage is the most they can possible afford (zadłużony po uszy)

negative equity

a situation in which the value of a house has become less than the amount of money its owner borrowed in order to buy it (ujemny kapitał)

recipient

a person or organization that receives something, such as money, a prize, etc. (świadczeniobiorca)

trustee

a person, often one of a group, who controls property and/or money for another person or an organization (powiernik)

pension fund

money that employees of a company pay regularly to be invested to provide them with a pension when they are older (fundusz emerytalny)

lump sum

an amount of money that is paid in one large amount on one occasion (kwota ryczałtowa)

annuity

you pay a lump sum, and receive regular payments for the rest of your life (renta)

life insurance

your beneficiaries receive money if you die young (ubezpieczenie na życie)

life assurance

your beneficiaries receive money when you die (ubezpieczenie na życie)

endowment assurance

you receive a lump sum on a certain date (or earlier if you die) (zabezpieczenie kapitałowe)

endowment mortgage

you borrow money to buy a house. Many years later, your endowment repays the loan (kredyt hipoteczny na dożycie)

private health insurance

your private hospital bills are paid (prywatne ubezpieczenie zdrowotne)

sickness insurance

if you're to ill to work, you receive payments (ubezpieczenie chorobowe)

equity release scheme

you borrow money. When you die, your house is sold to repay the loan (program uwalniania kapitału)

insurance adjuster

a person whose job is to check facts and information relating to an insurance claim and to decide how much money the insurance company should pay (rzeczoznawca ds. ubezpieczeń)

underwriter

a person or company that sells insurance policies (ubezpieczyciel)

cover note

a document that proves you have insurance while the policy is being processed (dowód ubezpieczenia)

insurer

a person or company that insures someone or something (ubezpieczyciel)

insured / policyholder

a person who has taken out insurance cover (ubezpieczony)

bill of lading

a detailed list of ship's cargo (list przewozowy)

import duty / tarrifs

extra money paid when goods are imported (cło przewozowe/importowe; taryfy celne)

to defer (a payment)

to agree on paying the payment later on (odroczyć)

letter of credit

a letter from a bank allowing the person who has it to take a particular amount of money from a bank in another country (akredytywa)

to wire (money)

to send money to a bank account (przelać)

remittance

bank transfer (przekaz pieniężny)

tax heaven

a country with very low taxes (raj podatkowy)

tax-payer

someone who pay taxes (podatnik)

domiciled

being legally resident (= living) in a place (zamieszkały)

beneficiary

a person who receives an international payment (beneficjent)

income tax

tax on earnings, profits from the investments and any other sources of personal income (podatek dochodowy)

capital gains tax

tax on profits made by selling assets such as businesses, rented houses and shares (podatek od zysków kapitałowych)

Value Added Tax (VAT)

Tax on goods and services. In Poland it is charged at 23%

stamp duty

a tax on specific transactions. For example, in the UK, it is payable by the buyer of a house (opłata skarbowa)

wealth tax

tax on assets (such as houses) payable in some countries, but not in the UK

inheritance tax

tax on assets of a person who has died. Used to be called "death duties" (podatek od spadku)

corporation tax

in the UK, this is the name for the tax paid by companies (podatek dochodowy od osób prawnych)

tax relief

liability for capital gains is reduced by 7.5 % for each year of ownership of the asset (ulga podatkowa)

tax break

from April 6th next year, theatres will not have to pay tax on profits below 20.000 pounds (ulga podatkowa)

tax exile

Ms Brown is British, but save tax she lives in Monaco (emigrant podatkowy)

direct taxation

income tax (opodatkowanie bezpośrednie)

indirect taxation

VAT (podatek pośredni)

tax avoidance

Ms Smith pays an accountant to find lega ways to reduce her tax liability (unikanie opodatkowania)

tax evasion

Mr Jones made a profit of 100.000 pounds from selling a business, but didn't declare it to the Inland Revenue (uchylanie się od podatku)

tax free

no tax is payable on winnings from the National Lottery (zwolnienie z podatku)

tax loophole

a legal provision that allows individuals or companies to reduce their tax liability in unintended ways (luka podatkowa)

tax brackets

a range of similar incomes used to calculate the rate of income tax that people must pay (progi podatkowe)

tax incentive

a reduction in taxes that encourages companies or people to do something that will help the country's economy (zachęta podatkowa)

tax rebate

tax refund (zwrot podatku)