Thus when the bank opens a current account it issues a cheque book for the customer free of charge. Besides, many banks provide debit cards and ATM cards for their current account holders.
Current account holders usually pay no commission charges for ordinary current account services. For cleared credit balances the current account holders can get a certain interest, usually of 5-7%. The customers are often allowed a 100 pounds overdraft. Under the agreement with the bank the customer can get a further overdraft limit, for which he is certainly charged.
VOCABULARY
to extend | предоставлять |
reliable | надежный |
depositor | |
reference | рекомендация |
satisfactory | удовлетворительный |
to imply | значить, подразумевать |
to proceed | происходить, проходить |
slip | бланк |
paying-in slip | бланк, заполняемый при взносе суммы на текущий счет |
overdraft | овердрафт (сумма, получаемая сверх остатка на текущем счете) |
agreement | соглашение, договоренность |
SUGGESTED ACTIVITIES
Drill 1. Read the text and give Russian equivalents:
* to extend current account services –
* to open a current account –
* to present a reference –
* to accept a deposit from a new depositor –
* to enter a deposit into a current account –
* to issue a cheque-book –
* to pay money into an account –
* to pay money out of an account –
* the balance of the account –
* a paying-sleep –
* to withdraw money –
* to instruct the bank to pay in cash –
* to instruct the bank to transfer money to another account –
* to provide a debit card –
* to provide an ATM card –
* a card holder –
* to pay no commission –
* to get a certain interest –
* to be allowed an overdraft –
* to be allowed a bigger overdraft for a certain charge –
Drill 2. Read the beginning of the sentences in A and find the correct ending in B:
Banks extend current account services to anyone | the French word “courant”, or “running” in English. |
A new depositor may be recommended to the bank | present a reference. |
Or a new depositor should | his current account. |
If the bank finds the reference satisfactory, or if it has the recommendation of the employer | by the new depositor’s employer. |
The deposit will then be entered in to | the bank will then accept a deposit from the new depositor. |
The name “current account” comes from | whom they regard as reliable. |
Drill 3. Find the answers in the text:
1. How often can the customer pay into or pay out of the accounts?
2. How often does the balance of the account change?
3. What is the usual method of paying money into a current account?
4. What is the usual method of withdrawing cash?
5. What instructions can the bank have?
6. What paper does the bank issue when it opens a current account?
7. What cards does the bank usually issue?
8. Is a special charge paid when a cheque-book is issued?
9. Are ordinary current account services charged?
10. In what cases can current account holders get an interest?
11. What overdraft are current holders usually allowed free of charge?
12. Can a current account holder have a bigger overdraft? On what condition, if so?
Drill 4. Agree or disagree:
1. Banks extend current account services to any person.
2. A new depositor needn’t be recommended to the bank.
3. A new depositor should present a checking book.
4. If the bank finds the reference satisfactory, it will give a loan to the new customer immediately.
5. If you have a current account you can pay into and pay out of the account as often as you find convenient.
6. The balance of the account changes twice a month only.
7. The usual method of paying money into a current account is by means of a cheque.
8. If the customer wants to withdraw cash it is done by means of a paying-in-slip.
9. The cheque may instruct the bank to pay in cash, or to transfer the sum concerned to the account of some other customer.
10. When the bank opens a current account it issues a cheque book for the customer for which he is certainly charged.
11. Besides, many banks provide only paying-in slips for their current account holders.
12. Current account holders usually pay commission charges for ordinary current account services, usually 5-7%.
13. For cleared credit balances the current account holders can get a certain interest, usually of 2-3% .
14. The customers are often allowed a 100 pounds overdraft.
Drill 5. Sum up what the text said about:
- the formalities of opening a current account;
- the procedure of the current account functioning;
- the services offered to current account holders free of charge;
- the services for which customers are usually charge.
DEPOSITS AND SAVINGS ACCOUNTS
Many bank customers prefer having deposit accounts for which get a higher interest as compared with current accounts. The main difference between the two types of account is that in the case of the deposit account the holder can withdraw cash only at a certain notice.
In the United Kingdom the Banking Act 1987 specifies the protection of depositors. 75% of their deposits is protected if the bank should get into difficulties. The maximum protected sterling deposit is 20,000 Pounds Sterling. This means that the maximum amount depositors can get back from a bank is 15,000 Pounds Sterling. Foreign currency deposits are excluded.
There are a few types of savings accounts in the practice of English banks. They are instant savings accounts, regular saving accounts, tax exempt special savings accounts and others.
Instant savings accounts provide instant access but no cheque book. As to ATM card they are often available on this type of account.
Regular savings accounts require the customer to deposit a fixed or minimum sum regularly. In return, the interest rate is higher than with instant savings accounts. Only one or two withdrawals a year are permitted in the case of a regular savings account. But not all banks offer this product.
Every Englishman over 18 can have a tax exempt special savings account (TESSA) and only one. Interest on the account is free of income tax. The account must stay open for five years. The maximum sum in a TESSA is 9,000 Pounds Sterling which can be accumulated by regular savings of up to 150 Pounds Sterling a month for five years of by investing a lump sum at the beginning of each year. The maximum lump sum is 3,000 Pounds Sterling at the beginning of the first year, 1,800 Pounds Sterling for each of the next three years and a final 600 Pounds Sterling at the start of the last year. Withdrawals of interest are the permitted, but these are subject to deduction of income tax at the basic rate. Withdrawals of capital may result in the complete loss of the tax exemption. Each bank quotes the interest paid on its TESSA and states if it is to be credited monthly, quarterly or annually. Customers can transfer their TESSA to whichever bank is paying the most attractive interest rate.
VOCABULARY
notice | уведомление, предупреждение |
to specify | подробно обозначать, перечислять |
protection | защита |
to exclude | исключать |
instant | немедленный, безотлагательный |
tax tax exempt | налог свободный от налогов |
access | доступ |
interest | проценты, процентный доход |
income income tax | доход подоходный налог |
to accumulate | накапливать |
lump sum | полная, одноразовая сумма |
deduction | вычитание, вычет |
loss | потеря |
to credit | кредитовать |
SUGGESTED ACTIVITIES
Drill 1. Give English equivalents for the following:
· по которому они получают процент выше;
· владелец счета может получить наличные только по определенному уведомлению;
· защита вкладчиков;
· максимально защищенный вклад в фунтах;
· вкладчики могут получить обратно;
· депозиты в иностранной валюте исключаются;
· безотлагательный сберегательный счет;
· регулярный сберегательный счет;
· специальный сберегательный счет, свободный от налогов;
· обеспечивает немедленный доступ;
· не предоставлять чековой книжки;
· вносить определенную или минимальную сумму регулярно;
· процентная ставка выше;
· разрешается только одно или два снятия со счета;
· может накапливаться регулярными взносами;
· внося полную сумму;
· снятия процентов разрешены;
· вычитание подоходного налога;
· снятие полной суммы может повлечь за собой полную потерю освобождения от налогов;
· переводиться на счет ежемесячно, ежеквартально или ежегодно;
· банк, выплачивающий самый привлекательный процент.
Drill 2.Answer the following questions according the text:
1. Do deposit account holders get a higher, or a lower interest as compared with current accounts?
2. Is a deposit account holder allowed to withdraw money whenever he wishes to do so?
3. What is the main difference between the two types of accounts?
4. What is the aim of the UK Banking Act 1987?
5. What part of the deposits is protected by the Government?
6. How big is the maximum protected deposit?
7. Are foreign currency deposits included?
8. What types of savings accounts are there in the practice of English banks?
9. What do instant savings accounts provide?
10. Are ATM cards available on this type of account?
11. What do regular savings require?
12. What can you tell us about the interest rate with regular savings accounts?
13. How many withdrawals are permitted in the case of a regular savings account?
14. Is interest on a TESSA free of income charge?
15. How long must a TESSA open?
16. What is the maximum sum in a TESSA?
17. What is the maximum sum at the beginning of the first year?
18. How much must you pay into for each of the next three years?
19. What is the final sum at the start of the last year?
20. Are withdrawals of interest permitted?
21. What is the result of withdrawals of capital?
22. Can the customers transfer their TESSA to whichever bank?
Drill 3. Agree or disagree with the following statements:
1. Many bank customers don’t prefer having deposit accounts for which they get a lower interest as
compared with current accounts.
2. The main difference between the two types of account is that in the case of the deposit account the
holders can withdraw cash as often as they find convenient.
2. 50% of the deposits of bank customers having deposit accounts is protected if the bank should get into difficulties.
3. The maximum protected sterling deposit is 25,000 Pounds Sterling.
4. Foreign currency deposits are included.
6. Instant savings accounts provide instant access but no cheque book.
7. Regular savings accounts require the customers to deposit any sum when they find convenient.
8 The interest rate is lower in case with regular savings accounts than with instant savings accounts.
9. Only one or two withdrawals a year are permitted in the case of an instant savings account.
10. Every Englishman can have a tax exempt special savings account and only one.
11. Interest on a TESSA is free of income tax.
12. The maximum sum in a TESSA is 19,000 Pounds.
13. Withdrawals of interest aren’t permitted in case of TESSA. 14.Withdrawals of capital may result in
the complete loss of the tax exemption.
15. Customers can’t transfer their TESSA to whichever bank is paying the most attractive interest rate.
Drill 4. Name the account:
You can get a higher interest in case with … | ? |
You must pay no commission charges for ordinary services in case with … | ? |
The customers are often allowed a 100 pounds overdraft in case with … | ? |
The bank provides instant access but no cheque book in case with … | ? |
You can get a certain interest, usually 5-7% for cleared credit balances in case with … | ? |
The customer must deposit a fixed or minimum sum regularly in case with … | ? |
Only one or two withdrawals a year are permitted in case with … | ? |
The bank provides a cheque-book in case with … | ? |
You can withdraw cash only at a certain notice in case with … | ? |
Interest on the account is free of income tax in case with … | ? |
75% of your deposits is protected if the bank should get into difficulties in case with … | ? |
Customers can transfer the capital to whichever bank is paying the most attractive interest rate in case with … | ? |
Foreign currency deposits are excluded in case with … | ? |
The interest rate is higher than with instant savings accounts in case with … | ? |
Under the agreement with the bank you can get a further overdraft limit, for which you are certainly charged in case with … | ? |
Drill 5. Ask your own questions for the following:
…? If you have a deposit account you can get a higher interest as compared with current accounts.
…? The main difference is that in the case of the deposit account you can withdraw cash only at a
certain notice.
…? 75% of your deposits will be protected.
…? The maximum protected sterling deposit must be 20,000 Pounds Sterling.
…? You can’t deposit in foreign currency.
…? There are a few types of savings accounts.
…? They are instant savings account, regular savings accounts, tax exempt special savings accounts
and others.
…? Yes, you can have an instant access in case with this account.
…? In this case you have to deposit a fixed or minimum sum regularly.
…? In this case the interest rate is higher than with instant savings accounts.
…? Oh, interest on this account is free of income tax.
…? The maximum sum must be accumulated by regular savings of up to150 Pounds sterling a month
for five years.
…? Yes, you can invest a lump sum at the beginning of each year.
…? Withdrawals of interest are permitted.
…? These withdrawals are subject to deduction of income tax at the basic rate.
…? Withdrawals of capital may result in the complete loss of the tax exemption.
…? Sure, you can transfer your TESSA to the bank which pays the most attractive interest rate.
Drill 6. Sum up what the text said
OPENING AN ACCOUNT
Remember!
When you open a bank account you must give the names and addresses of 2 people to the bank. These people are asked to write a short letter, called a reference, about your character. |
In England you can open a bank account with as little as £1. Two people can open an account together. This is called a joint account. |
You pay the bank a commission or account charge for their services. In some banks, if you keep a certain amount of credit in your account, these services are free of charge. |
The bank asks for an example of your signature, called a specimen signature |
Drill 7. Read and translate the following dialogue:
Putting money into your account.
When you open an account you have to put some money into it. Every time you put money into the bank you see a paying-in slip.
Customer: I’d like to pay my salary cheque and some cash into my account.
Clerk: Well you fill in the amount of the cheque here . With the cash, write the amount of notesand coins at the side ‚ then put the total here ƒ. You have three £10 notes, two £1 notes and 36p, so you write it like this. Then you should add up the total amount and put it here „.
Customer: What’s the “account holding branch”?
Clerk: That’s the branch where you have your account. Underneath you should put the name, which is printed on your cheques and the account number. Then, could you put the date here … and your signature at the bottom? †
Customer: What’s this for? ‡
Clerk: That’s your counterfoil. If you fill in the details of your de - posit here, you can keep it as a record for yourself.
Customer: Thanks very much for your help.
Drill 8. Look at the statements and tick (ü) if you think they are true or false. Can
you correct the false statements?
| TRUE | FALSE |
1. You do not have to put any money into your account when you first open it. |
|
|
2. The bank charges a commission for its services. | ||
3. It is not possible to share an account with someone. | ||
4. You need two references to open a bank account. |
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