transfer-funds

Vocabulary Word

Definition

'Transfer funds' means moving money from one account to another. It's a bit like passing the ball in soccer - the ball (or money) moves from one player(account) to another.

Examples in Different Contexts

In personal finance, transferring funds can be an effective way to manage finances across different accounts or to save for specific goals. A financial planner might suggest, 'Setting up automatic fund transfers to your savings account can help you reach your financial goals faster.'

Practice Scenarios

Tech

Scenario:

We need to save for our Hawaiian vacations this summer. Let's plan our monthly expenses and set aside an amount.

Response:

Alright, let's transfer funds each month from our joint checking account to our vacation savings.

Startup

Scenario:

The investment agreement has been approved by our legal team. It's time to fund the agreed upon operations.

Response:

Excellent. We'll be ready to transfer funds as agreed upon once we receive the signed contracts.