J. Complete a summary using the vocabulary

Bank is a lawful organization which renders a wide range of services to individuals. They r…. and hold deposits, p… money according to custoners instructions, l… money, etc.

There are still many people in Britain who do not have b… a… Ttraditionally, factory workers were paid wages in c… on Fridays. Non-manual workers, however, usually receive a monthly salary in the form of a c… or a t… paid directly into their bank account.

A c… account (US: c… a…) usually pays little or no interest, but allows the holder to w… his or her cash with no restrictions. D… accounts (in the US called time or notice accounts) pay i…. They do not usually provide c… (US: c…) facilities, and notice is often required to w… money. S… o… and diect d… are ways of paying r… bills at regular intervals.

A bank l.. is a fixed sum of money, lent for a fixed period, on which i… is paid; banks usually require someform of c… before lending. An o… is an arrangement by which a customer can overdraw an account, i.e. run up a d… to an agreed limit; i… on debt is calculated daily.

B… make profit from the differentials between the i… r… they pay on d… and those they charge on l… . They are also able to l… more money than they receive in depoits because d… rarely withdraw all their money at the same time. In order to find a trade-off between y… and r…. If they fail they are called i…

K. Draw the banking services flow chart and use it as a plan for speaking about bank functions.

Listening: An interview with a bank director

(Market leader, CB, Intermediate Business English by D. Cotton, Unit 9)

Over to you

v Compare the banking systems of the USA, UK and Russia.

v Do a research and make a report on a banking crisis.

Speaking

A. Which of the following would be said by a client and which by a bank clerk?

- I’d like to change this for pounds sterling, please.

- I’d like to change a traveler’s cheque, please.

- Can you sign here, please?

- Is the money here?

- I want to open a bank account here.

- How would you like the money?

- Can I have three twenty pound notes and four tens, please?

- I’d like to cash a cheque.

- Can I help you?

- I’m expecting a money order from Montreal.

B. Act out dialogues on the situations below using the phrases above. One is a Cashier and the other is a customer.

Situation 1

The customer wants to change some currency into dollars. The amount is equal $200 and the bank charges a commission of 2%.

Situation 2

The customer wants to change a traveler’s cheque for ?100 in ?10 notes.

Situation 3

The customer is expecting a money order of £500 from home. The cashier needs this customer’s name and some ID. Decide if the money order has arrived or not.

Situation 4

The customer wants to arrange monthly transfer of $200 to her/ his mother.

Situation 5

Customer wants to buy a car but does not have enough cash to do it.

Module 3 Accounting

Reading 1: Basics of Accounting

A. Study the topical vocabulary.

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