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For most people the first banking service they take up is a cheque account.
The cheque account provides:
a safe place for money
a quick and simple way to withdraw cash for your everyday needs
a convenient way to make all the payments you need to other people or other organisations
With your cheque account comes your cheque book – and also (by arrangement) your cash dispenser card and your Cheque guarantee card.
Bank cards
“Plastic cards” available to bank customers include cheque guarantee card, credit cards and debit cards – all of which can help you pay for goods and services without carrying cash. This is an area which is rapidly developing and new products are always coming onto the market.
Savings for future
The banks offer a wide range of saving accounts. The interest paid varies according to the amount of savings in the account and the length of notice required for withdrawal. Generally, the more you save, the higher the interest rate is.
With some savings accounts you can combine the convenience of a cheque book, with interest, as long as you keep a certain balance in the account.
Savings accounts
What is a saving account?
The saving account is an account for money that you do not need for day-to-day expenses. You can open a savings account with as little as 5.00 DM. Whenever you want to save a sum of money you just go to the bank and pay it in.
Every private customer should have a saving account as a basis for major investments or to cope with unexpected expenses. Many parents open savings accounts for their children.
If you need money you can withdraw up to 2,000 DM in any 30 days without having to give notice. If you need more than 2,000 DM you have to give three month’s notice or you will lose interest.
How do you know what’s in your account?
When you open your saving account you receive a passbook or savings book. Every deposit and withdrawal is entered in it. So you always have a complete written record of everything that happens to your account. The interest that your money earns is also recorded.
What are the advantages?
Any money put into your saving account begins earning interest from the day we receive it. The interest rate may vary from time to time according to the long-term money market rate, but we aim to keep it as high and as constant as possible.
You can pay money into your saving account at any branch of the national Bank throughout the country. And you can withdraw up to 2,000 DM on demand at any National Bank branch, as long as you bring your passbook.
How much does it cost?
Savings accounts are free of charge. We think this makes them even more profitable for you.
Anything else to think about?
You can earn a higher rate of interest if you arrange for special periods of notice, e.g. one, two or four years.
As a current account holder you can place a standing order with us for regular transfers to your savings account. You can even tell us to transfer on a certain day of each month all the money that is left in your current account on that day.
Current accounts
What is a current account?
The current account is an account for everyone. It is an account for receiving money from other people: wage-earners can have their wages paid into the account and businessmen can receive money from their customers.
The current account is an account for paying your bills rent, subscriptions and other expenses. It’s the account with our cheque service. If you want to pay money to someone you just write a cheque or send us a credit transfer.
The current account is an account for keeping your money safe. If you keep money in your current account you can go shopping without having to carry cash around with you. When you want to make a payment you simply fill in the amount on a cheque and hand it, together with your cheque card, to the cashier in the shop.
How do you know what’s in your account?
We’ll send you regular statements telling you exactly what has been debited or credited to your account.
What are the other advantages?

As a current account holder you can make use of all our other banking services. You can send money abroad, buy and sell stock and shares place standing orders or authorize direct debits. You will be welcome to apply for an overdraft or other loan facilities. We’ll always be around to help you in all money matters.

How much does it cost?
There will be a small basic charge every entry month and an even smaller additional charge for every entry. The charges are debited once a quarter and will appear on your bank statement. We are sure you’ll soon find out that your current account saves you a lot more money that it costs.
Credit cards
Used wisely, credit cards are a convenient way of making purchases at the point-of-sale, while paying for them later. They are not a recommended way of borrowing money since the interest charged is relatively high.
For large purchases, or for when you want to spread the cost over a long period of time, a personal loan could be more suitable. Sometimes you can arrange a shorter term overdraft with bank. Loans can also be arranged for specific needs – such as a home improvement loan. And of course the largest most important loan of all – for most of us – is the mortgage – a loan to buy a home over a period of perhaps 25 years.
Nowadays more and more people are going abroad – whether for business or holiday. The banks provide a service here through supplying foreign currency, travellers cheques and eurocheques, together with advice on your trip.

2 .
Bank services commission, debited, in full, interest, issued, outstanding, salaries, slip, statement, withdraw, banker’s draft, cash dispenser, credit rating, credit transfer, financial institutions, standing order

Banks offer many services to businesses and their customers. Here are some of the most common:
Many people now have a card which enables them to 1….. money from a 2….. .You feed t\your card into the machine and key in your PIN (personal identification number) and the amount of money you want. If you have enough in your account, the money requested will be 3… to you up to a daily limit. Your account is automatically 4…. for the amount you have drawn out. Provided you have a sound 5…., you can get a credit card from a bank and other 6…. . To obtain goods or services, you present your card and sign a special voucher. When it receives the voucher, the credit card company pays the trader (less a 7….) and sends you a monthly 8…. .Depending on the type of card you have, you will either have to pay 9…. or be able to pay part of what is owed and pay 10… on the balance left 11…. .
If you need to make fixed payments at regular intervals, e.g. for insurance premiums, you can arrange a 12…. (sometimes known as a banker’s order) so that the bank will do this for you.
If you have several bills to pay, you can do this by 13… . You write one check for the total sum involved, fill in a 14….for each bill and hand everything to the bank cashier.
The transfer system is also used by employers to pay 15…. directly into employee’s bank accounts.
If you are dealing with supplier for the first time, a 16…. may be used as payment. This is a check guaranteed by a bank and therefore it is not likely to ‘bounce’
: 1 - M

To withdraw cash

To make the payments

Cheque book

Bank customers

Saving account

Credit card
Personal loan


Foreign currency

Travelers cheques

Cash dispenser




– ing .
: including – Participle I
– ed .
: accounted - Participle II


(6-7 ).

Participle I, Participle II, Gerund,
Present Continuous :

Participle I
Participle II
Present Continuous

(T) (F) .

1. The banks don’t offer a wide range of savings accounts.
2. … you can withdraw up to 1,000 DM on demand at any National Bank branch, as long as you bring your passbook.
3. Banks offer many services to businesses and their customers.
4. Sometimes you can arrange a shorter term overdraft with bank.
5. Nowadays more and more people are going abroad – only for business .
1. What is a current account?
2. What is a saving account?
3. How do you know what’s in your account?
4. Can loans also be arranged for specific needs?
5. Is the current account an account for keeping your money safe?
5 7 .

II - 2

1. An internal audit is a control by a company’s own accountants … the completeness, exactness and reliability of financial records.
a) check b) checked c) checking d) checks
2. Money … …work for its owner, because of the situation.
a) must to b) had to c) has to d) may
3. I … … to count the money, they had already told me that it was done automatically.
a) not need b) don’t need c) didn’t need d) doesn’t need.
4. A commercial bank borrows money from the public … them with a deposit.
a) crediting b) to credit c) credited d) credit
5. All invoices … … paid not later than 30 days from the date of issue.
a) must b) have to c) must be d) have
6. These shares … … me a good return on my investment.
a) have given b) has given c) have gave d) has gave
7. Give me the … account.
a) signed b) sign c) signs d) signing
8. A share is a security …a portion of the nominal capital of a company.
a) represent b) representing c) represented d) represents
9. Our overseas sales … …when our director resigned.
a) are increasingb) was increasing c) were increasingd) is increasing
10. She might be able … …him with his profit and loss account.
a) help b) to help c) helping d) helped
11. That is what we seek to do by the … efforts of all accountants of our company.
a) combine b) combined c) not combined) combining
12. … the company’s finance is very important for the health of the organization.
a) control b) controlling c) controls d) controlled
13. From the … accounts shareholders can easily determine the total profits the bank earned.
a) publishb) publishing c) publishes d) published
14. Banks make their profit by … money.
a) lendingb) lent c) lend d) to lend
15. He sold his share quickly because their value … … .
a) plummet b) plummeted c) were plummeting d) plummets
16. … is used to mean the value of goods or services that a company sold during a particular period oftime
a) turnover b) overturn c) profit d) range
17. The amount of money which is made by a business, for example when it sells something fore more than it costs is its … .
a) cost b) price c) profit d) turnover
18. Employees hope that their salary will …. with the cost of living.
a) up b) fall c) grow d) enlarge
19. Government or central bank measures concerning the rate of growth of the money supply is called……. monetary policy
a) monetary policyb) fiscal policy c) legal policy d) illegal policy
20. Government measures concerning taxation, public expenditure, and so on is called … .
a) monetary policyb) fiscal policy c) legal policy d) illegal policy

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