Trade finance

El descuento de efectos is the discounting of bills, and el efecto has to be unfolded into three English words. On its own it is the effect: el efecto de la subida. In the plural beside personales it is somebody's belongings, the things left in a hotel room. And in commerce un efecto is a bill of exchange, a piece of paper promising money on a date — efectos a cobrar, el descuento de efectos. English keeps « effect », « effects » and « bill » apart and hears nothing that joins them.