Comprehension Practice

Exercise 1.Comment on the statements based on the text you’ve read. While doing the task, you should, first, say which of the statements are true, which are partly true and which are false, and then elaborate on them.

1.Banker’s services cover a narrow range of activities.

2.Current account services are extended to the clients banks regard as reliable.

3.To open a current account a new depositor should be recommended by his employer.

4.If the reference proves satisfactory the bank will accept a deposit from the customer which will be entered in his deposit account.

5.The customer is charged f10 for a cheque book.

6.Once the customer has received his cheque book he may use the cheques in order to pay sums of money into his current account.

7.Money can only be paid out of the customer’s current account.

8.Individuals can deposit cash resources that are not needed at present in the deposit account.

9.In case of time deposits money can be withdrawn from an account after a certain period of time.

10.Savings account services allow big savers to put money away for safety reasons.

Exercise 2. Answer the following questions about the text.

1.What services do banks offer their customers?

2.What is the difference between a current account and a savings account?

3.Whom do banks regard as reliable?

4.What is the purpose of opening a current account?

5.What is the difference between a savings account and a deposit account?

6.What other services do banks provide to the general public?

7.What do ATMs (automated teller machines) enable people to do?

8.Is safe custody a convenient service? Why?

9.Which services of banks seem most important to you?

10.Which bank account would you like to open? Why?

Exercise 3. Find the following words in the text and paraphrase the sentences in which they are used.

1.to cover a range of activities

2.to be extended to

3.to present a reference

4.to prove satisfactory

5.a deposit

6.to be entered in an account

7.free of charge

8.to pay out of an account

9.cash resources

10.to enable small savers

11.to grant loans

12. an ATM

Vocabulary Practice

Exercise 1. Fill in the gaps in the following sentences

1.Banker’s services ……………… of activities to day.

2………….. account services are extended to anyone whom banks ……… reliable.

3.A new …………. should be recommended by his employer or should ……. containing the information on his …………..

4.If this ………….. the bank will …………… which will …………. in his current account.

5.A cheque book will ………….. free of charge.

6.The cheque book is used to order the bank to …………… the holder’s current account.

7.Companies and individuals can deposit …………… that are not needed at present.

8.They can withdraw the money either any day they need it or after a certain period in case of …………..

9.A savings account enables small savers to …………….. for particular purposes.

10.Other services provided by banks include foreign exchange ………….., ………….bills of exchange, granting ……………, ……………managements services, cash ………… and automated …………machines, safe …………….. and many others.

Exercise 2. Supply words and expressions which fit the following definitions and make sentences with them.

1.’A business that keeps and lends money and provides other financial services’.

2.’An arrangement between a bank and a customer that allows the customer to pay in and take out money’.

3.’A special plastic card used for getting money from a machine outside a bank’.

4.’A bank account that you can take money out of at any time’.

5.’A machine in or outside a bank from which you can obtain money with a special plastic card’.

6.’A bank account that pays interest on condition that you keep money there for a particular length of time’.

7.’Someone who puts money in a bank or other financial organization’.

8.’An amount of money that is paid into a bank account’.

9.’To get cash by writing a cheque’.

10.’To withdraw from an account’

11.’Without payment’

12.’To put money in an account’

13.’A bank account that pays interest on the money you have in it’.

14.’Someone who saves money in a bank or building society’.

15.’Someone who usually saves money with a particular bank’.

16.’Foreign money’

17.’An amount of money that you borrow from a bank’.

18.’To borrow money’

19.’A service performed by banks for their customers, in taking charge and carefully guarding the safety of the customer’s valuables, by keeping them in locked strong-rooms’.

20.’A small box used for storing valuable objects usually kept in a special room in a bank’.

Exercise 3. Translate the following sentences into English.

1. Текущий счет – беспроцентный тип банковского счета, позволяющий обналичивать и выписывать (to draw) чеки.

2. Учет векселей – операция купли-продажи (buying) векселей по номиналу (face value) минус вознаграждение (the discount) за оставшийся до погашения векселя срок (due for payment).

3. Депозит – вклад клиента в виде денег или ценных бумаг (securities) под проценты (to bear interest) в банк или другое кредитное (financial) учреждение.

4. Курс обмена валют – соотношение двух валют, определяемое их покупательной способностью (purchasing power) и рядом других факторов.

5. Чек – инструкция (an order) банку выплатить лицу, указанному на чеке (a named person), определенную сумму (a stated sum), при этом (provided) в банке имеется достаточная сумма (balance) на счете клиента (drawer), выписывающего чек.

6. Среди услуг, предоставляемых банками, есть специальная услуга, состоящая в выдаче заинтересованным банкам справок о финансовом положении и платежеспособности потенциальных клиентов. Подобная информация является строго конфиденциальной.

7. Хранить деньги в сберегательном банке очень удобно: во-первых, это абсолютно надежно, во-вторых, вы всегда можете снять требуемую сумму, а в-третьих, сумма вклада увеличивается с каждым годом, потому что банк начисляет определенный процент.

Exercise 4. Act as an Interpreter.

Bank representative: Доброе утро, сэр. Слушаю Вас внимательно.

Mr X: I wish to deposit a certain sum with a bank and I have been advised that Lombard Bank provides very favourable conditions to investors.

B.R.: Абсолютно верно, сэр. У Вас уже есть брошюра с описанием услуг, которые мы предоставляем?

Mr X: Yes, I have already obtained your leaflet, but I require further details before deciding in which account to invest my money.

B.R.: Я постараюсь ответить на все Ваши вопросы, сэр. Каковы Ваши требования к банковскому счету и какую сумму Вы предполагаете поместить в банк?

Mr. X: I wish to deposit the total of £30,000. I would like to set aside a sum of money for my son and daughter to be divided between them on their eighteenth birthdays.

B.R.: Каков возраст ваших детей на данный момент?

Mr. X: Their present age is 14 and 10.

B.R.: Понятно.

Mr. X: I also wish to set aside an amount for use in emergencies, for example to carry out any unexpected repairs to my house, to pay medical bills etc.

B.R.: Очень хорошо, сэр. Что касается Вашего последнего требования, я бы посоветовал Вам открыть сберегательно-чековый счет (cheque savings account). Он идеален для тех, кто хочет иметь постоянный доступ к своим деньгам и в то же время накапливать на них проценты.

Mr. X: How often would I be paid interest with a cheque savings account?

B.R.: Проценты начисляются каждые три месяца. Банк выпишет Вам чековую книжку, по которой вы сможете снимать со счета до £1000 в день, но превышать кредит нельзя.

Mr.X: How much interest would I earn if I opened a cheque savings account?

B.R.: При банковском балансе от £1,000 до £4,999 процентная ставка 3,75%, если Вы внесете на счет £5,000 и более, ставка возрастает до 6%.

Mr.X: Alright, I will think about it. Now, what can you tell me about your fixed deposit account?…

Exercise 5. Complete the previous dialogue using the information below. In particular ask and answer questions about the following:

• Minimum/Maximum opening deposits

• Interest rates

• Dates of interest payment

• Restrictions on withdrawing money