banking company

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Word: Banking Company

Definition: A banking company is a type of financial institution that accepts money from people, called deposits, and then uses that money to lend to others. This helps people buy homes, start businesses, and manage their money.

Usage Instructions:

• When to use: You can use the term "banking company" when talking about institutions that provide financial services.
• Context: It is often used in discussions about finance, economics, and personal money management.

Example:

• "He cashed a check at the banking company."
• "The banking company holds the mortgage on my home." (This means the bank lent you money to buy your house, and you pay them back over time.)

Advanced Usage:

• In a sentence like, "The banking company has diversified its services to include investment advising," you can see how "banking company" can refer to banks that offer more than just basic services.

Word Variants:

• Bank (noun): A simpler term often used interchangeably with "banking company."
• Banking (noun/verb): Refers to the act of managing money or the industry as a whole.

Different Meanings:

1. Bank (verb): To put money into a bank account.
   • Example: "I need to bank my paycheck."
2. Bank (noun): A place where money is kept and managed.

Synonyms:

• Financial institution
• Credit union (a type of banking company)
• Savings and loan association

Idioms:

• "Break the bank": To spend more money than you have.
  • Example: "Buying that car would break the bank for me."
• "In the bank": Means you have money saved or guaranteed.
  • Example: "Don't worry about the trip; I have enough saved in the bank."

Phrasal Verbs:

• Bank on: To rely on or depend on something.

Academic

Noun

1. a financial institution that accepts deposits and channels the money into lending activities
   • he cashed a check at the bank
   • that bank holds the mortgage on my home

Synonyms

• depository financial institution
• bank
• banking concern