Credit send draw exchange deduct pay sort put send on
First of all, when Blacks plc. receives the cheque it 1______ into Bank A and
2___to the firm's account. Then, at the end of each working day all the cheques which 3_______on other banks and 5_____to Bank A's headquarters. Here they 6________ into piles together with cheques from other Banks (В, C, D, etc.) and 7____________to the clearing house where all the cheques 8______. Bank B's headquarters now sends Mr. White's cheque back to Bank В (where he has an account) and the sum 9______ from his account.
SPEAKING
1. Read and translate the following dialogues.
OPENING AN ACCOUNT
I
Man: Good morning.
Cashier: Good morning, sir.
M: I'd like to open an account, please.
C: Certainly, sir. Do you live in Geneva?
M: Yes. I'm at the Interpreters' School.
C: Are you a student?
M: Yes.
C: What sort of account would you like?
M: A current account, I think.
C: Have you got any large sums to deposit?
M: No, only a thousand euros or so a month.
C: Well, we can open a current account with a cheque book for you as long as the initial
sum is at least three thousand euros. But I'd advise you in your case to take an account
that gives you more interest, and which is more practical. We normally advise students
to open deposit accounts.
M: Can I take out money whenever I like?
C: Yes. There are two or three types of account. They permit you to withdraw up to ten
thousand euros a month.
M: Can I receive money directly from abroad?
C: Certainly.
M: And can I withdraw at a branch office?
C: Certainly, though it may be more convenient to open your account in our branch near the University.
M: No, I live quite near here. Do I need a passport?
C: Yes.
M: I'm afraid I haven't got it. Will my student card do?
C: No, I'm afraid not.
M: I'll come back later, then.
C: Very good, sir.
II
Bank Clerk: Good morning. What can I do for you?
Oleg Martynov: Good morning. I would like to open a savings account. I’d like to open
it with a deposit of one thousand dollars.
Clerk: Would you please fill in this application. Besides you need to write a deposit
ticket for 1000 dollars. If you have any questions, I'll be glad to assist you.
O.M. fills in the application and deposit ticket.
Clerk: Everything is correct. Here is your pass-book. The bank will pay you 5% interest.
Oleg Martynov:Thank you for your assistance.
III
Clerk: Good afternoon. May I help you?
O.M.: Good afternoon. I’m here to open a checking account. My name is OlegMartynov. My wife's nameis Lena.
C: Do you want a joint account with your spouse?
O.M.: Yes. I do. Is there a minimum balance required?
C: If you open a checking account you are supposed to maintain an average daily balance
of 1000 dollars. As long as you keep this average balance, you won’t be charged for
banking services of six dollars a month and you wont' be charged for you transactions.
O.M.: What is meant by transaction charge?
C: You'll have to pay 25 cents for each check made by you or your spouse and also 25 cents for each cash withdrawal.
O.M.: I'd like to open a checking account with a deposit or 1500 dollars. Is that o’kay?
C: It's perfectly all right. You can order your check books after having filled in an application and your deposit ticket.
O.M. is filling in an application and deposit ticket.
O.M.: Is anything wrong?
C: Everything is correct. Now you can order your check books.
O.M.: Thanks a lot for your assistance.
WITHDRAWING MONEY FROM THE ACCOUNT
I
A: Good morning.
B: Good morning, sir.
A: I’d like to draw two thousand dollars from my account, please. Here is the
number.
B: Thank you. One moment, please, sir. I'm sorry, sir. Your account has a balance of
545 dollars.
A: All right. Give me 500 dollars, then, and I’ll draw the rest from my deposit
account. This is the number.
B: One moment, please. Yes that's all right, sir. How would you like it?
A: Two notes of a thousand, please. Thank you. Good-bye.
II
A: Good morning. I'd like to draw a thousand euro from account number С 6.287.55,
please.
B: Is it your own account?
A: Yes, here is my passport.
B: Thank you. One moment, please. How would you like it?
A: In hundreds, please. Thanks.
B: Good bye, sir.
III
A: I’d like to draw some money from my husband’s account, please.
B: Have you got power of attorney, madam?
A: Yes.
B: Do you know the number of the account?
A: Yes. Here is my cheque book.
B:How much would you like to draw?
A: Two hundred dollars, please.
B: One moment, please, madam. Yes, that's all right. How would you like it?
A: In tens, please. Thank you.
B: Thank you. Good-bye, madam.
IV
Man: Good morning.
Cashier: Good morning, sir.
M: I’d like to take out some money, please.
C: Certainly, sir. Do you know the number of your account?
M: No. I'm not sure of it.
С: What's your name?
M: Klaus Bright.
C: Is it a checking account?
M: Well, I've got a checking account and a savings account.
C: And which account would you like to draw from?
M: I'd like two thousand dollars from my checking account.
C: I'll just check the number, sir. It's 53.875, sir. Could you sign here, please ... and here. Thank you. One moment, please, sir. How would you like it, sir?
M: Two bills of a thousand, please. Thank you. Good bye.
V
Mr. Smith: Good morning.
Bank Clerk: Good morning, sir.
S.: I'd like to withdraw 950 dollars.
C: What notes would you like?
S.: Nine 100 dollar notes and one 50.
C: Here you are, sir. It's 950.
S.: Thank you. Please, could you give me some information? I'm going to South
America for one month. What do you suggest I take - traveler's checks or cash?
C: Oh, it's better to take traveller's checks. It's safer.
S.: Thank you. Good-bye!
C: Good-bye, sir.
CHANGING FOREIGN CURRENCY
I
Customer: Could you change dollars into English pounds sterling?
Cashier: Certainly, sir. I'll just check the exchange rates. How much would you like
to change?
Customer: One thousand dollars. And what is the rate of exchange today?
Cashier: One dollar to seventy five pence.
Customer: And what rate can you offer for two thousand dollars?
Cashier: One dollar to ninety pence.
Customer: Oh, the difference is not very big. Change one thousand, please. Here is
the money.
Cashier: Thank you. May I have your passport for a moment, please? We are always
to write down the number of the customer's passport if we change thousand
dollars or more.
Customer: Here it is. No problem.
Cashier: Here is your passport. How would you like the money, sir?
Customer: Oh, give it to me in hundred pound notes, please.
Cashier: Good. One hundred, two hundred ... seventy pounds, seventy five pounds.
Customer: Thank you. Good-bye.
Cashier: Good bye, sir.
II
M: Good afternoon.
C: Good afternoon, sir.
M: I've just arrived from Boston and I've got some foreign currency that I'd like to
change into roubles. Is that possible?
C: We can take the bank notes but I'm afraid we can’t take the small change.
M: Then could you change these notes, please?
C: Certainly, sir. I'll just check the exchange rate.
III
M: Good morning.
C: Good morning, madam.
M: I've just come back from a trip to Russia and I'd like to change on these roubles, please.
C: We can change but I'm afraid we can pay a very low rate of exchange on Russian currency, madam.
M: Oh, that doesn't matter. I can't use them anyway.
C: All right, madam. Just one moment, please.
2. Find the English equivalents for the following sentences in the above dialogues:
1. Я бы хотел открыть счет.
2. Какой счет Вы бы хотели открыть?
3. Вы хотите положить большую сумму?
4. Я бы посоветовал в Вашем случае ...
5. Могу ли я снять деньги, когда захочу?
6. А могу я снимать в одном из отделений банка?
7. Я бы хотел открыть сберегательный счет.
8. Я пришел сюда открыть чековый счет.
9. Я бы хотел открыть счет в банке.
10. Если вы открываете чековый счет, вам положено поддерживать средний ежедневный баланс в размере 1000 долларов.
11. Я бы хотел снять деньги со счета.
12. Какова плата за банковские услуги?
13. Плата за банковские услуги составляет 6 долларов в месяц.
14. Я бы хотел открыть чековый счет с вкладом в 1500 долларов.
15.Вы можете заказать чековые книжки после заполнения заявление вашего приходного ордера.
16. Если у Вас есть вопросы, я буду рад помочь Вам.
17. На Вашем счете 545 долларов.
18. Я сниму остальные с депозитного счета.
19. Этот счет на Ваше имя?
20. У Вас есть нотариально заверенное разрешение?
21. Я бы хотел снять 950 евро.
22. Какими купюрами (банкнотами) Вы хотели бы взять?
23. Если Вы едете в Южную Америку, Вам лучше взять дорожные чеки.
24. Я бы хотел получить деньги по дорожному чеку.
3. Read the Dialogue. Dick and Sally, university tutors, are discussing their financial problems.
D: Hello, Sally!
S: Hi, Dick! Happy to see you again. How are things with you?
D: Not bad. And how are you doing?
S: I've a problem, you know. I've just wrecked my new automobile. It has been an accident. And I need money to have it repaired.
D: Oh, I think I can help you. Haven't you heard about the credit union that we formed?
S: Why, no! Could you tell me what it is?
D: It was a great idea! The members of our department pooled their money and now anyone can apply for a loan if necessary.
S: And may I join the union?
D: Of course you may. As a rule, a credit union consists of members of a specific group, such as university employees. And we belong to the same university.
S: Great! And how much do I have to pay?
D: Well, we require a minimum deposit - something about 100 dollars. And our credit union pays a higher interest rate than many other financial institutions pay on similar accounts.
S: That also sounds good. And who manages the pool?
D: I do.
S: Fine! Then I'll have my car repaired pretty soon!
4. Work in pairs. Act out similar dialogues with your partner.
5. Choose one topic to speak about a) credit card; b) the best known cards in the UK; c) credit cardholders; d) money laundering
WRITING
1. Here is a story about some problems a man had with his bank. The sentences have been mixed up. Put them in the correct order, and add any other words you need to link the story together, e.g. so, because, but, and, etc.
1. He was overdrawn.
2. He opened a deposit account.
3. He got a statement in the post.
4. He forgot about his standing order for £50.
5. He paid for a new shirt by cheque.
6. He transferred £160 back to his current account.
7. He closed his deposit account.
8. He had to pay bank charges.
9. He wanted to earn more interest on his savings.
10. He transferred £160 to his deposit account.
2. You are a bank manager and you were asked for a loan. Consider the things:
· you worry about the loan and the questions you want to be answered;
· you should give particular consideration to:
— whether you will have sufficient funds to make this loan,
— whether you think the customer will be able to repay the loan and the interest,
— whether you would offer everything or part of what is being asked,
— whether you need any further evidence of the creditworthiness of your customer
and how you would get it,
— what sort of security would you accept,
— what kind of terms would you offer.
3. Conduct the interview:
a) if you refuse the loan, write to the client setting out the reasons why you have done so;
b) if you grant the loan, write to the client setting out the precise terms of the loan.
SUPPLEMENTARY READING
1. Read the texts about English and American money.
ENGLISH BANKNOTES AND COINS
The official currency of the United Kingdom is the pound sterling which is equal to one hundred pence.
English banknotes are issued by the Bank of England. As to coins they are minted also by this state bank. There are banknotes of the following denominations: £1, £5, £10, £20. £50, £100. The following coins are in circulation: halfpenny, one penny, two pence, five pence, ten pence, fifty pence.
On the face of English banknotes one can read the denomination given both in figures and in words. Then the inscription on the face of the banknote reads: I promise to pay the bearer оn demand the sum of... And then there are two signatures. The first signature is that of the person authorized by the Government and the Bank of England. The second signature is that of the Chief Cashier.
The backs of English banknotes, like many other banknotes, feature portrait of different famous people. The one pound banknote, for example, features Isaac Newton (1642 - 1727) a well-known English scientist who made a few very important discoveries including gravitation law. The back of the five pound note portrays the Duke of Wellington (1769 - 1852), a famous Irish general who defeated Napoleon at Waterloo, Belgium in 1815. On the back of the ten pound note one can see Florence Nightingale (1820 - 1910), founder of the nursing profession. She volunteered as a nurse to Turkey to take care of the wounded soldiers form Crimean War, war of England and France versus Russia. And the back of the twenty pound banknote features William Shakespeare (1564 - 1616), the greatest playwright of all time.
AMERICAN MONEY
The American dollar is subdivided into one hundred cents. The dollars are issued by the Federal Reserve System, established by Congress in 1913. Here is the text on the face of an American dollar banknote:
- ... dollars
- Federal Reserve Note
- The United States of America
- this note is legal tender for all debts public and private
- Washington. DC
- Treasurer of the United States
- Secretary of the Treasury
On the face of American dollars one can also see the portraits of the following famous persons:
- George Washington (1732 - 1799), the first President of the United States of America, who gave his name to the capital of the country.
- Abraham Lincoln (1809 - 1865) who was President from 1861 to 1865 after the war between the northern and southern states. It was he who proclaimed freedom of slaves of the south.
- Alexander Hamilton (1755 - 1804), a famous American statesman and оther famous people.
On the back of banknotes various famous buildings are featured, such as:
- Lincoln Monument, one of the monuments in Washington.
- US Treasury Building, in Washington.
- White House.
- US Capitol.
- Independence Hall, in Philadelphia.
All the banknotes bear the words: In God We Trust.
2. Read the text about different types of bank operations.
BANK OPERATIONS
Savings account
To open a savings account at a bank a small initial deposit is needed. If you open your account with $500 or more and keep that much at all times, there is no service charge. If you fall below the 500 dollar limit, you will be charged $5 a month. A bank computer adds all the daily figures and then divides by the number of days in your statement period. Thai's called your average daily balance.
When you open an account, you'll be in touch with your money thanks to a bank machine services. These machines can handle most regular teller transactions. You can make deposits, cash withdrawals, and balance inquiries with your automatic teller card. The machine is at work 24 hours a day, seven days a week.
If, for example, you want to open a savings account with a deposit of $1000, you are supposed to fill in (A.E. - out) an application. Besides you need to write a deposit ticket for $1000. After filling in the application you are given a pass-book. Once you place your money in a savings account, interest on the money begins to accrue. The bank will pay you 4 or 5% interest.
Checking Account
If you want to open a checking account, you are supposed to maintain an average daily balance of 1000 dollars. As long as you keep this average balance you won't be charged for banking services. Should you fall below the 1000 dollar limit, you would have to pay a service charge of $6 a month, and each of your transactions would be charged separately.
A transaction charge means that you'll have to pay 25 cents for each check made by you or your spouse and also 25 cents for each cash withdrawal. But you can easily avoid paying these charges by maintaining $1000 or more on your account.
Interest is paid if your average daily balance is over 2500 dollars. Unless you fall below 2500 dollars, you'll be paid 6,5% interest. The bank credits the interest you've earned automatically to your account.
You can order your check books after having filled in (out - A.E.) application and your deposit ticket.
For getting a credit card you must have an income of $15 000 or more. This income must be proved by your last pay stub or a copy of your tax return. As soon as the bank has this information, credit cards will be given to you and your wife.
Notes:
accrue - накопляться
stub – корешок чека
3. Scan the text and say what cyber dollars are and why digital money is perfect.