Updated: November 2025
Reading Time: 9 minutes
Reading Time: 9 minutes
This article is part of our English for Immigration series by SmallTalk2Me – an AI-powered English Speaking Practice Platform designed to help you train English fluency through real-life conversation simulations.
Why Banking English Matters for Immigrants
Moving to a new country means setting up your financial life from scratch. Opening a bank account, understanding fees, exchanging currency, and paying bills are essential tasks that require clear communication in English. Knowing the right vocabulary and phrases can help you avoid costly mistakes and manage your money confidently.
In this comprehensive guide, you'll learn essential banking vocabulary and terminology, key phrases for common bank transactions, practical dialogues for opening accounts and paying bills, and tips for successful banking conversations.
Looking for a complete resource? Check out our English for Immigration Guide.
In this comprehensive guide, you'll learn essential banking vocabulary and terminology, key phrases for common bank transactions, practical dialogues for opening accounts and paying bills, and tips for successful banking conversations.
Looking for a complete resource? Check out our English for Immigration Guide.
Banking Vocabulary in English
Types of Bank Accounts
Essential Banking Terms
Cards and Payment Methods
Loans and Credit
People You'll Meet at the Bank
- Current account (checking account) – a bank account for everyday transactions; you can take money out at any time
- Savings account – an account for keeping money you want to save; earns interest over time
- Joint account – an account shared by two people, such as a married couple
- Business account – an account for company finances and transactions
- Foreign currency account – an account that holds money in different currencies
Essential Banking Terms
- ATM (cash machine) – a machine for withdrawing cash using your bank card
- Interest rate – the percentage the bank pays you (savings) or charges you (loans)
- Monthly service fee – a charge for maintaining your account
- Balance – the amount of money currently in your account
- Overdraft – spending more money than you have in your account (may incur fees)
- PIN (Personal Identification Number) – your secret 4-digit code for card transactions
- Exchange rate – the value of one currency compared to another
- Commission / Bank charges – fees the bank charges for services
- Online/mobile banking – managing your account via internet or smartphone app
Cards and Payment Methods
- Debit card (bank card) – a card linked to your account; money is taken directly
- Credit card – a card that lets you borrow money up to a limit; you pay it back later
- Contactless payment – paying by tapping your card or phone
- Wire transfer / Bank transfer – sending money electronically to another account
- Direct debit – automatic regular payments from your account
- Standing order – a regular payment you set up to pay the same amount
Loans and Credit
- Loan – money you borrow from the bank and repay with interest
- Mortgage – a loan specifically for buying a house or property
- Credit score – a number that shows how reliable you are at repaying debts
- Collateral – something valuable you offer as security for a loan
- Down payment – the initial amount you pay when buying something on credit
People You'll Meet at the Bank
- Bank teller / Cashier – staff who handle everyday transactions
- Bank manager – senior staff who can help with complex issues
- Financial advisor – someone who helps with investment and savings advice
- Client / Customer – you, the person using bank services
15 Common Requests at the Bank
These are the most common things you'll need to do at a bank. Practice saying these requests out loud.
- Open a bank account
- Close a bank account
- Apply for a debit card / credit card
- Deposit money into my account (make a deposit)
- Withdraw money from my account (make a withdrawal)
- Check my balance
- Pay a bill
- Exchange currency
- Send money abroad / overseas (international transfer)
- Transfer money from one account to another
- Cash a check / Deposit a check
- Apply for a loan (personal / car / home)
- Ask about interest rates and bank charges
- Set up online / mobile banking
- Report a lost or stolen card
Useful Phrases for Banking Conversations
Memorize these expressions to communicate confidently with bank staff.
Making General Requests
Account Operations
Currency Exchange and Transfers
Cards and Services
Asking About Fees and Charges
Making General Requests
- "I'd like to open a bank account, please."
- "I need some help with my account."
- "I'm looking for information about savings accounts."
- "I have a couple of questions about your services."
- "Could I speak to a bank manager, please?"
Account Operations
- "I'd like to check my balance, please."
- "Could I make a withdrawal of [amount], please?"
- "I'd like to deposit [amount] into my account."
- "I need to transfer [amount] from my savings to my current account."
- "Could I close this account, please?"
Currency Exchange and Transfers
- "What is the exchange rate for dollars to euros?"
- "I'd like to exchange [amount] pounds to dollars."
- "I need to send money to [country]. What are the fees?"
- "How long does an international transfer take?"
Cards and Services
- "I'd like to apply for a debit card."
- "How much is the annual fee for the credit card?"
- "I've lost my card. I need to report it and get a replacement."
- "How do I set up online banking?"
Asking About Fees and Charges
- "Are there any monthly fees for this account?"
- "What is the interest rate on your savings accounts?"
- "Is there a commission for paying bills?"
- "What are the charges for international transfers?"
Practice Dialogue 1: Opening a Bank Account
Client: Hello!
Teller: Hello. How can I help you?
Client: I would like to open a bank account.
Teller: I'll be happy to help you. Would you like to open a current account or a savings account?
Client: What's the difference?
Teller: A current account allows you to take money out at any time whereas a savings account helps you to keep money that you want to save for a period of time.
Client: I'll need to transfer some money overseas to my relatives.
Teller: Then you need a current account. Could you hand me your ID please?
Client: Here it is.
Teller: Thank you. I'll need a couple of minutes to open an account for you. Do you need an account in pounds only? Or do you need dollars and euros too?
Client: Hmm… I definitely need dollars but I'm not sure about euros. Will I need to pay extra for each account?
Teller: No, you'll pay only for a bank card if you need one. OK, it's done. I've opened three accounts for you — in pounds, euros and dollars. Would you like to have our debit and credit cards?
Client: Yes, I'd like to apply for a visa debit card.
Teller: OK. The bank will charge you 40 pounds per year. I need 2 minutes to fill in the application… OK, it's ready. Please sign a contract here and here.
Client: All right. When will the card be ready?
Teller: In 5 days. It means next Tuesday.
Client: That's great. Thank you.
Teller: Would you like to have a credit card too?
Client: Right now, no, thank you. Could I exchange currency here?
Teller: Sure. How much would you like to exchange?
Client: 2 thousand pounds to dollars. What is the exchange rate?
Teller: 1 pound is 1.29 dollars.
Client: OK. 2000 pounds.
Teller: Here are your dollars. What else could I do for you?
Client: How can I check my balance and transfer money to my relatives?
Teller: We've got very user-friendly online and mobile banking systems. You can do a lot of operations there including checking your balance, opening and closing accounts, exchanging currency and transferring money. Here is our brochure with all the information that you'll need. We also have customer service which you can contact by phone. Their phone is here.
Client: Thank you a lot!
Teller: Not at all. Have a good day!
Client: You too!
Teller: Hello. How can I help you?
Client: I would like to open a bank account.
Teller: I'll be happy to help you. Would you like to open a current account or a savings account?
Client: What's the difference?
Teller: A current account allows you to take money out at any time whereas a savings account helps you to keep money that you want to save for a period of time.
Client: I'll need to transfer some money overseas to my relatives.
Teller: Then you need a current account. Could you hand me your ID please?
Client: Here it is.
Teller: Thank you. I'll need a couple of minutes to open an account for you. Do you need an account in pounds only? Or do you need dollars and euros too?
Client: Hmm… I definitely need dollars but I'm not sure about euros. Will I need to pay extra for each account?
Teller: No, you'll pay only for a bank card if you need one. OK, it's done. I've opened three accounts for you — in pounds, euros and dollars. Would you like to have our debit and credit cards?
Client: Yes, I'd like to apply for a visa debit card.
Teller: OK. The bank will charge you 40 pounds per year. I need 2 minutes to fill in the application… OK, it's ready. Please sign a contract here and here.
Client: All right. When will the card be ready?
Teller: In 5 days. It means next Tuesday.
Client: That's great. Thank you.
Teller: Would you like to have a credit card too?
Client: Right now, no, thank you. Could I exchange currency here?
Teller: Sure. How much would you like to exchange?
Client: 2 thousand pounds to dollars. What is the exchange rate?
Teller: 1 pound is 1.29 dollars.
Client: OK. 2000 pounds.
Teller: Here are your dollars. What else could I do for you?
Client: How can I check my balance and transfer money to my relatives?
Teller: We've got very user-friendly online and mobile banking systems. You can do a lot of operations there including checking your balance, opening and closing accounts, exchanging currency and transferring money. Here is our brochure with all the information that you'll need. We also have customer service which you can contact by phone. Their phone is here.
Client: Thank you a lot!
Teller: Not at all. Have a good day!
Client: You too!
Practice Dialogue 2: Paying Bills and Making Withdrawals
This dialogue demonstrates checking your balance, understanding account restrictions, and paying bills at the bank.
Teller: Hello. How can I help you?
Client: Hello! Could you check my balance please?
Teller: Sure. I'll need your ID.
Client: Here it is.
Teller: Thank you. You have 5700 euros in your savings account and 2300 dollars in your current account.
Client: Hmm… Could I make a withdrawal of 2000 euros from my savings account?
Teller: To do that we'll need to close your savings account as it doesn't allow any withdrawal. It means you won't get the full interest rate. Afterwards I can transfer the money to your current account and take out 2000 euros. Are you sure you want to close your savings account?
Client: Not now, thank you.
Teller: Could I do anything else for you?
Client: I know you have mobile banking but I've never used it for paying bills. I've got a very important bill. Could I pay it here?
Teller: Yes, we can do it right now. Can I have a look at it?
Client: Here it is.
Teller: The bank will charge you a 1% commission. Is it OK for you?
Client: That's fine, thank you.
Teller: Done. Here's your payment receipt.
Client: Great, thank you.
Teller: Hello. How can I help you?
Client: Hello! Could you check my balance please?
Teller: Sure. I'll need your ID.
Client: Here it is.
Teller: Thank you. You have 5700 euros in your savings account and 2300 dollars in your current account.
Client: Hmm… Could I make a withdrawal of 2000 euros from my savings account?
Teller: To do that we'll need to close your savings account as it doesn't allow any withdrawal. It means you won't get the full interest rate. Afterwards I can transfer the money to your current account and take out 2000 euros. Are you sure you want to close your savings account?
Client: Not now, thank you.
Teller: Could I do anything else for you?
Client: I know you have mobile banking but I've never used it for paying bills. I've got a very important bill. Could I pay it here?
Teller: Yes, we can do it right now. Can I have a look at it?
Client: Here it is.
Teller: The bank will charge you a 1% commission. Is it OK for you?
Client: That's fine, thank you.
Teller: Done. Here's your payment receipt.
Client: Great, thank you.
Tips for Successful Banking Conversations
Before Visiting the Bank
During Your Visit
Using Online/Mobile Banking
- Bring your ID (passport or national ID card)
- Have proof of address ready (utility bill, rental agreement)
- Know what type of account or service you need
- Write down any questions you want to ask
During Your Visit
- Speak slowly and clearly
- Don't be afraid to ask for clarification: "Could you explain that again?"
- Ask about ALL fees before signing anything
- Take notes or ask for written information
- Keep all receipts and documents
Using Online/Mobile Banking
- Set up online banking as soon as possible – it's convenient for everyday tasks
- Check your balance regularly
- Never share your PIN or passwords with anyone
- Contact customer service if you have any problems
Ready to Practice Your Banking English?
Reading vocabulary lists and dialogues is a great start, but real fluency comes from practice. SmallTalk2Me is an AI-powered English Speaking Practice Platform that helps you train English fluency through realistic conversation simulations with instant feedback.
Start practicing now — try our English for Immigration course to role-play banking conversations with instant AI feedback on your pronunciation, grammar, vocabulary, and fluency. Practice opening accounts, asking about fees, and build confidence before your real bank visit.
Start practicing now — try our English for Immigration course to role-play banking conversations with instant AI feedback on your pronunciation, grammar, vocabulary, and fluency. Practice opening accounts, asking about fees, and build confidence before your real bank visit.
More Articles in the English for Immigration Series
This article is part of our comprehensive English for Immigration series. Explore other essential topics to prepare for life abroad:
📖 For a complete overview of all immigration topics, visit our English for Immigration Guide – your one-stop resource for mastering English in real-life immigration situations.
- English for Immigration: Useful Phrases and Tips for Border Control – Navigate airport security and customs with confidence
- English for Immigration: Vocabulary and Phrases for Lost Luggage – Know what to say if your bags don't arrive
- English for Immigration: Renting or Buying a Home – Master housing vocabulary and conversations
- English for Immigration: At the Doctor's – Describe symptoms and understand medical advice
- English for Immigration: Renting a Car or Bicycle – Get around your new city easily
- English for Immigration: Starting a Business Abroad – Launch your entrepreneurial journey in English
📖 For a complete overview of all immigration topics, visit our English for Immigration Guide – your one-stop resource for mastering English in real-life immigration situations.
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Frequently Asked Questions (FAQ)
What English phrases do I need to open a bank account?
Key phrases include:
- "I'd like to open a bank account,"
- "What's the difference between a current and savings account?"
- "What documents do I need?"
- "Are there any monthly fees?"
How do I ask about fees and charges in English?
Use phrases like:
- "Are there any monthly service fees?"
- "What is the interest rate?"
- "Is there a commission for this service?"
- "What are the charges for international transfers?"
What's the difference between a current account and a savings account?
A current account (also called a checking account) is for everyday transactions – you can deposit and withdraw money anytime. A savings account is for keeping money you want to save – it usually pays interest but may have restrictions on withdrawals.
How do I send money abroad in English?
Say: "I need to send money overseas" or "I'd like to make an international transfer."
Ask about fees: "What are the charges for sending money to [country]?" and "How long will the transfer take?" You'll need the recipient's bank details: account number, bank name, SWIFT/BIC code.
Ask about fees: "What are the charges for sending money to [country]?" and "How long will the transfer take?" You'll need the recipient's bank details: account number, bank name, SWIFT/BIC code.
How can I improve my English for banking conversations?
Practice with AI-powered conversation simulators like SmallTalk2Me, study banking vocabulary lists, watch banking scenario videos on YouTube in English, and role-play common situations before visiting the bank. The more you practice, the more confident you'll feel.
