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(n) money or other help that the government gives people who need financial help, for example because they do not have a job: There has been an increase in the number of people claiming benefit.
(n) an advantage you get from a situation: The new sports centre will bring lasting benefit to the community.
(v) to get help or an advantage from something: Thousands of households could benefit under the scheme.
(n) money that someone receives because something bad has happened to them: Victims of the world's largest industrial accident were paid $470 million compensation.
(n) money that a court orders you to pay someone because you have harmed them or their property: The jury awarded damages of over $9 million to the victims.
(n) an amount of money that you owe: By this time we had debts of over £15,000.
(v) to take an amount or number from a total: Nothing will be deducted from your pay without your consent.
(n) a first payment that you make when you agree to buy or rent something expensive such as a car or house: She paid a £500 deposit, and agreed to pay the balance within six months.
(n) an amount of money that yov pay into a bank account: He made a £2,000 cash deposit on 5th April.
(v) to pay money into a bank account: Billions of dollars are deposited in banks every day.
Direct debit
(n phr) an order to a bank to regularly pay money from your account to a person or organisation: I pay all my bills by direct debit.
(n) a share of the profits of a company, paid once or twice a year to the people who own the company's shares: The Company will not be paying shareholders a dividend this year.
Down payment
(n phr) a first payment that you make when you are buying something and are going to pay the rest later: She made a £500 down payment, and agreed to pay the balance within six months.
(n) decisions on how money is spent or invested: He's now studying international banking and finance.
(n) money that is used to pay for something such as a large project: The College has had to close due to lack of finance.
(v) to pay for something such as a large project: The scheme is being financed by the Arts Council.
(n) an arrangement in which you regularly pay an insurance company or other organisation an amount of money so that they will give you money if something you own is damaged, lost or stolen, or if you die or are ill or injured: You have to take out building and contents insurance as a condition of the mortgage.
(n) money that a person or institution such as a bank charges you for lending you money: You will repay the money with interest, as agreed in the contract.
(n) money used in a way that may earn you more money, for example money used for buying property or shares in a company: Her investments were mainly in technology stocks.
(n) the process of spending money in order to improve something or make it more successful: lack of investment had led to a decline in public services.
Lump sum
(n phr) money in a single large payment rather than small separate payments: Are you going to pay the whole amount in one lump sum?
(n) a legal agreement in which you borrow money from a bank in order to buy a house. You pay back your mortgage by making monthly payments: On my present salary I can't get a mortgage.
(n) an agreement with your bank that allows you to spend money when you have no money left in your account: Hefty fines are payable for those who exceed their overdraft limit.
(n) an amount of money that someone who no longer works because of their age or an illness, etc is paid regularly, either by a company they once worked for or by the government: He started drawing his pension last year.
(n) one of the equal parts of a company that you can buy as a way of investing money: The scheme allows employees to buy shares in the company.
(v) to take the risk of investing your money in a company in the hope that you can make a big profit later by selling the shares you buy: Have you been speculating on the stock market?
(v) to take money from a bank account: You can withdraw cash at any of our branches.