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Task 2. Look at these expressions. Match the words with their definitions.
1.Bank account | a)) to put some money into the your bank account |
2. interest rate | b) to take some money out of your bank account |
3. deposit | c) to change one country's money into another countries money. E.g. To change your US dollars into euro. |
4. withdraw | d) a payment or charge taken by a bank for a service. Banks sometime charge a small fee for changing money for customers. |
5.transfer | e) the rate at which the money of one country can be changed for the money of another country. |
6. exchange | f) a safe way to carry money instead of cash when travelling. The cheque can be exchanged into cash at a bank. |
7. exchange rate | g) an arrangement with a bank to keep your money there and to allow you to take it out when you need to. |
8. commission | h) money that you earn from keeping your money in an account in a bank or other financial organization. It is also the extra money you must pay when you borrow money from a bank. |
9. Traveller's cheques | i) to move money from one account to another. Possibly from person's account to another. |
Task 3. Look through the text again, find information about the bank and put it down in the table below. The first has been done for you
1. Cash | the most liquid asset. |
2. A commercial bankborrows money from the public, | |
3. The crucial feature of banks is | |
4. A financial intermediaryspecializes | |
5. UK banks hold reserves | |
6. The deposit is | |
7. The bank can get its money back quickly |
Task 4. Some lines in the text one word too many. Tick off (v) the lines that are correct and put the wrong word into the space on the right. The first two lines have been done for you.
Banks offer customers very different kind of services. With a checking interest account you can withdraw money that you need every day and also pay your monthly bills. Banks also give there at automatic teller machine. You can also use three cards for pay for the things you buy at a shop. A saving loan account gives you a higher interest money rate that you would normally, get with a checking account. For people who need money to buy houses or cars, banks offer loans. You get all the money at once but give it back in monthly payments with account interest. A mortgage is an agreement you have with your bank that gives you a long-term salary loan for a house in most cases you can pay back this money within 20-30 years. Most banks offer other services, like life insurance, stocks and trading bonds. |
_ interest _____________________________________________________________________________________________________________________________________________________
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