Banking

/ˈbæŋ.kɪŋ/

Meaning & Definition

noun

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.

She works in banking and manages large accounts for corporate clients.

The system of financial institutions that provide loans, acceptance of deposits, and other financial transactions.

The banking sector plays a crucial role in the economy by facilitating investments.

The act of conducting business with a bank.

Online banking has made it easier for customers to manage their finances from home.

The practice or method of doing banking, including operations such as deposits, withdrawals, and transfers.

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

To bank on someone

I'm banking on you to help me finish this project.

Bankroll

He wants to bankroll the new startup with his savings.