Meaning & Definition of word "Banking"
to
Banking
/ˈbæŋ.kɪŋ/
noun:
- 1. The business activity of accepting and safeguarding money owned by individuals and entities, and then lending out this money in order to earn a profit.
- Example: She works in banking and manages large accounts for corporate clients.
- 2. The system of financial institutions that provide loans, acceptance of deposits, and other financial transactions.
- Example: The banking sector plays a crucial role in the economy by facilitating investments.
- 3. The act of conducting business with a bank.
- Example: Online banking has made it easier for customers to manage their finances from home.
- 4. The practice or method of doing banking, including operations such as deposits, withdrawals, and transfers.
- Example: Mobile banking applications have transformed how people interact with their money.
Etymology
From Middle English 'bancke', from Old Italian 'banca' meaning table or counter.
Common Phrases and Expressions
investment banking:
A sector of banking that offers services to other companies and governments.
retail banking:
The consumer banking sector that deals directly with individuals.
online banking:
Banking services that are conducted via the internet.
Related Words
bank:
A financial institution that accepts deposits and channels the money into lending activities.
loan:
A sum of money that is borrowed and is expected to be paid back with interest.
credit:
The ability to obtain goods or services before payment, based on the trust that payment will be made in the future.
Slang Meanings of banking
Meaning: To bank on someone
Example Sentence: I'm banking on you to help me finish this project.
Meaning: Bankroll
Example Sentence: He wants to bankroll the new startup with his savings.