account-holder

Vocabulary Word

Definition

An 'account holder' is the person who owns and controls a bank account. When you're an account holder, you're responsible for managing the money in the account, making deposits, and paying any fees.

Examples in Different Contexts

In banking, an 'account holder' is the person who owns and is responsible for the account. A customer service representative might explain, 'As the account holder, you're entitled to customize your banking preferences.'

Practice Scenarios

Customer-Service

Scenario:

Customers often get frustrated when they can't make account changes without the account holder present. Are we able to streamline this process?

Response:

One solution would be to allow the account holder to authorise other users to make certain changes.

Business

Scenario:

I've noticed some unusual transactions in the company account recently. Can we discuss safeguarding our finances?

Response:

As the account holder, I will closely monitor our transactions and setup alerts for large withdrawals.