Financial and E-commerce Terms: A Comprehensive List

Financial and E-commerce Terms

Banking and Finance

• Accept: To agree to receive or undertake something offered.
• Annuity: A fixed sum of money paid to someone each year, typically for the rest of their life.
• Appraisal: An expert estimate of the value of something.
• Arrangement Fee: A fee charged by a lender to cover the administrative costs of setting up a loan.
• ATM (Automated Teller Machine): A machine that dispenses cash or performs other banking services when an account holder inserts a bank card.
• Bank Wire: An electronic transfer of funds.
• Beneficiary: A person who derives advantage from something, especially a trust, will, or life insurance policy.
• Borrow: To take and use (something belonging to someone else) with the intention of returning it.
• Branch: A local office or division of a financial institution.
• Business Account: A bank account used for business purposes.
• Cashier's Check: A check guaranteed by a bank, drawn on the bank's own funds and signed by a cashier.
• Collateral: Something pledged as security for repayment of a loan, to be forfeited in the event of a default.
• Commission: A sum, typically a set percentage of the value involved, paid to an agent in a commercial transaction.
• Credit Limit: The maximum amount of credit that a financial institution extends to a client.
• Current Account: A bank account that allows the holder to make deposits and withdrawals, and write checks.
• Deposit Slip: A small paper form that a bank customer includes when depositing funds into a bank account.
• Escrow Service: A financial arrangement where a third party holds and regulates payment of the funds required for two parties involved in a given transaction.
• Fine (v): To charge someone a sum of money as a penalty for breaking a law or rule.
• Fluctuation: An irregular rising and falling in number or amount; a variation.
• Fraud: Wrongful or criminal deception intended to result in financial or personal gain.
• Identity Fraud: The fraudulent acquisition and use of a person's private identifying information, usually for financial gain.
• Intermediary: A person who acts as a link between people in order to try to bring about an agreement or reconciliation; a mediator.
• Lease: A contract by which one party conveys land, property, services, etc., to another for a specified time, usually in return for a periodic payment.
• Legal Fees: Payments made to a lawyer for legal services.
• Lend: To grant to (someone) the use of (something) on the understanding that it shall be returned.
• Liable: Responsible by law; legally answerable.
• Line of Credit: An amount of credit extended to a borrower.
• Mutual Fund: An investment program funded by shareholders that trades in diversified holdings and is professionally managed.
• Negotiating: Trying to reach an agreement or compromise by discussion with others.
• No-Claims Discount: A reduction in the cost of an insurance premium for each year a policyholder does not make a claim.
• Overdraw: To draw money from (one's bank account) in excess of what the account holds.
• Overdraft: A deficit in a bank account caused by drawing more money than the account holds.
• Pay Off: To pay a debt in full.
• Payment: The action or process of paying someone or something or of being paid.
• Personal Guarantee: A promise made by an individual to repay a debt owed by a business.
• Projection: An estimate or forecast of a future situation or trend based on a study of present ones.
• Standing Order: An instruction to a bank to make regular fixed payments to a particular person or organization.
• Withdraw: To remove or take away (something) from a particular place or position.

Insurance

• Benefit Period: The length of time during which a benefit is paid.
• Covered: Provided with an insurance policy against a particular risk.
• Disability Insurance: A type of insurance that will provide income in the event a worker is unable to perform their work and earn money due to a disability.
• E-risks Insurance: Insurance that covers risks associated with electronic business activities.
• Fire Insurance: Insurance that covers damage and losses caused by fire.
• Insurance Policy: A contract between an insurer and a policyholder which determines the claims which the insurer is legally required to pay.
• Payment Holiday: An arrangement where a borrower does not have to make repayments on a loan for an agreed period.
• Policy Holder: A person or group in whose name an insurance policy is held.
• Premium: An amount to be paid for an insurance policy.
• Professional Indemnity Insurance: Insurance that protects businesses against claims for loss or damage made by clients or third parties as a result of the impact of negligent services provided or negligent advice offered.
• Public and Employer's Liability Insurance: Insurance that covers businesses against claims made by members of the public or employees who have suffered an injury or damage to their property in connection with the business.
• Van Insurance: Insurance that covers commercial vans.

E-commerce and Online Business

• Adapt: To make (something) suitable for a new use or purpose; modify.
• Allow: To give (someone) permission to do something.
• Assess: To evaluate or estimate the nature, ability, or quality of.
• Browse: To scan through a website, database, or other data, typically in a leisurely or exploratory way.
• Checkout: The process of completing an online purchase.
• Compatible: Able to exist or occur together without conflict.
• Customise: To modify (something) to suit a particular individual or task.
• Deny: To refuse to admit the truth or existence of (something).
• Despite: Without being affected by; in spite of.
• Domain Name: The part of a network address that identifies it as belonging to a particular domain.
• Encrypted: Converted into a code so as to prevent unauthorized access.
• Entrepreneur: A person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
• Expert: A person who has a comprehensive and authoritative knowledge of or skill in a particular area.
• Fake: Not genuine; imitation or counterfeit.
• Feedback: Information about reactions to a product, a person's performance of a task, etc., used as a basis for improvement.
• Gather: To collect or accumulate over a period of time.
• Genuine: Truly what something is said to be; authentic.
• Government Regulations: Rules or directives made and maintained by an authority.
• Handmade: Made by hand, not by machine, and typically therefore of superior quality.
• Hidden: Kept out of sight; concealed.
• Host: A computer that stores data or makes a service available to other computers on a network.
• In Mind: In one's thoughts or consideration.
• Intention: A thing intended; an aim or plan.
• Localisation: The process of adapting a product or content to a specific locale or market.
• Misunderstanding: A failure to understand something correctly.
• Negligence: Failure to take proper care in doing something.
• Neutral: Not supporting or helping either side in a conflict, disagreement, etc.; impartial.
• Online Wallet: A digital wallet that stores payment information on a mobile device or computer.
• Packaging: Materials used to wrap or protect goods.
• Place an Order: To request a product or service from a business.
• Platform: A group of technologies that are used as a base upon which other applications, processes or technologies are developed.
• Plugin: A piece of software that adds specific features to an existing computer program.
• Post: To display (a message) in a public place on the internet.
• Power: The ability or capacity to do something or act in a particular way.
• Prevent: To keep (something) from happening or arising.
• Retail: The sale of goods to the public in relatively small quantities for use or consumption rather than for resale.
• Returns Policy: A set of rules a retailer creates to manage how customers return and exchange unwanted merchandise they've purchased.
• Round the Clock: Happening or continuing all day and night.
• Scam: A dishonest scheme; a fraud.
• Secured: Protected against attack or other criminal activity.
• Sensible: Chosen in accordance with wisdom or prudence; likely to be of benefit.
• Shopping Cart: A feature on an e-commerce site that allows users to select items for eventual purchase.
• Showcase: A setting in which something can be displayed to best effect.
• Slideshow: A presentation supplemented by or based on a series of projected images or photographic slides.
• Stylish: Fashionably elegant.
• Sued: Instituted legal proceedings against (a person or institution), typically for redress.
• Suffer: To experience or be subjected to (something bad or unpleasant).
• Support: Assistance and resources provided to help users of a product or service.
• Template: A preset format for a document or file, used so that the format does not have to be recreated each time it is used.
• Terms: Conditions under which an action may be undertaken or agreement reached; stipulated or agreed requirements.
• Third Party: A person or group besides the two primarily involved in a situation, especially a dispute.
• Traffic: The cars, trucks, etc. using a road. In the context of the internet, it refers to the number of visitors to a website.
• Troubleshooting: Solving serious problems for a company or other organization.
• Unlimited Bandwidth: A web hosting feature that allows for an unlimited amount of data transfer between a website and its visitors.
• Venture: A risky or daring journey or undertaking.
• Video Tutorials: Instructional videos that demonstrate how to do something.
• Virtual Mall: An online shopping platform that hosts multiple virtual stores.
• Widget: An application, or a component of an interface, that enables a user to perform a function or access a service.
• Worth the Effort: Deserving of the time and energy spent on it.