Various Services of Banks

Banker's services cover an enormous range of activities today. A full list would include:

1) Current account services

They are extended to anyone whom banks regard as reliable. A new depositor should be recommended by his employer or should present a reference. If this proves satisfactory the bank will accept a deposit from him which will be entered in his current account.

A cheque book will then be issued free of charge. Once the customer has received his cheque book he may use the cheques to order the banker to pay out sums of money from his current account. Money is being paid into and paid out of the account as often as the customer finds convenient.

2) Deposit account services

Companies and individuals can deposit cash resources that are not needed at present. They can withdraw the money either any day they need it or after a certain period in case of time deposits.

3) Savings account services

It enables small savers to put money away for particular purposes, for example for holidays.

4) Other services:

· foreign exchange

· foreign exchange transactions

· services in foreign trade payments

· discounting bills of exchange

· granting loans

· investment management services

· cash dispensers and automated teller machines

· safe custody

· economic information and

· banker's credit cards and many others

II. Answer the following questions:

1) What activities do banker's services cover today?

2) What are current account services?

3) What can you say about deposit account services?

4) What services can help small savers to put money away for particular purposes?

5) What do other services include?

III. Say which services of banks seem most important to you, and why?

J	Speaking Practice

I. Translate the following speech patterns and memorize them:

I'd like to open an account, please.

What sort of account would you like?

Have you got any large sums to deposit?

We can open a current account…

I'd advise you in your case to take an account…

Can I take out money whenever I like?

We normally advise students to open deposit accounts.

Can I receive money directly from abroad?

Can I withdraw at a branch office?

It may be convenient…

Could you change dollars into English pounds sterling.

I'll just check the exchange rates.

How much would you like to change?

What rate can you offer for…

Change 1000 $, please.

How would you like the money?

Give it to me in hundred pound notes, please.

II. Read the conversations and then role play them.

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