Understanding “bank fees” is a crucial aspect of financial literacy for you as an ESL learner. This knowledge allows you to compare different bank accounts, understand the terms and conditions, and make informed decisions about their banking needs. Having a good understanding of today’s vocabulary words can contribute to financial independence and responsible money management. So, let’s jump right in!

5 TERMS

1. Overdraft (Noun): A situation where the bank allows a customer to withdraw more money than their account balance, resulting in a negative balance, often incurring fees.

2. Maintenance Fee (Noun): A recurring fee charged by a bank for maintaining an account.

3. Withdrawal Fee (Noun): A fee charged for withdrawing money from an ATM, particularly when it is outside the bank’s network.

4. Foreign Transaction Fee (Noun): A fee charged when making purchases in a foreign currency or using a card abroad.

5. ATM Fee (Noun): A fee charged for using an ATM that is not affiliated with the account holder’s bank.

ENGLISH RESOURCES

• A special English resource for you: Daily English Vocabulary Bundle | Book 1 - 9

• Check out today’s practice lessons in the English With Tiffani App

• Watch this English video: Learn 100 Vocabulary Words in 10 minutes