AN ENGLISH COURSE FOR STUDENTS OF FINANCE. Учебно-методический комплекс

BLOCK 6

You simply present the card with your cheque and then the payee writes your card number on the back of the cheque.

Of course, you should not issue a cheque for more than the funds available in your account unless previously agreed with your branch.

How to Obtain Cash with a Cheque

When you want to withdraw money from your own branch, all you need to do is to write a cheque payable to 'cash' and hand it to the cashier.

There may be times when you want to withdraw money from other branches of Barclays. If you have a Barclays Connect card or Barclaycard Visa, you can use it as identification to cash your personal Barclays cheques for up to $100 per day. Present the card with your cheque book and sign the cheque in front of the cashier.

How to Get a New Cheque Book

We monitor how many of your cheques have been processed, and you should automatically receive a new cheque book before you run out.

If one doesn't arrive, however, you'll find a page in your cheque book which is a re-order form. Just send or hand over the completed form to your account holding branch.

How to Stop a Cheque

If you want to stop the payment of a cheque that has been issued from your account, simply telephone or call into your branch. You will need to quote your account number, the cheque number, the amount and date on the cheque and the name of the payee. Your branch will stop payment of the cheque providing it has not already been paid prior to you contacting them. If you telephone the details through to your branch, you must confirm your instruction immediately in writing. A charge will be made to stop a cheque unless it has been lost or stolen.

71

AN ENGLISH COURSE FOR STUDENTS OF FINANCE

If you have used a Barclays cheque guarantee card to issue a cheque, it cannot be stopped

Using your Barclays plastic cards

As a Barclays Bank Account customer, you can apply for a Barclays Connect or Barclay bank card.

How to pay for goods and services using Barclays connect

Barclays Connect is our versatile Visa payment card which deducts the money you spend from your current account. It's accepted at over 400,000 Visa and Delta outlets in the UK and at over nine million worldwide. It combines the convenience of paying by Visa card with the control you get by spending from your current account. Instead of writing out a cheque in most supermarkets, restaurants or petrol stations, simply hand your Barclays Connect card to the cashier or retailer who will process the transaction.

All you have to do is to sign the voucher and the amount will be debited from your account in the same way as a cheque.

It's a cash dispenser card and cheque guarantee card as well, allowing you to pay just about any way you like.

How to obtain cash using your Barclays connect or Barclaybank card

When you need cash you can use your Barclays Connect or Barclaybank card to withdraw up to $200 per day (provided that sufficient funds are available in your account) from over 6,200 Barclays, Lloyds, Bank of Scotland and Royal Bank of Scotland cash dispensers, day or night, free of charge.

You will need to use your Personal Identification Number

(PIN) which will be sent to you shortly after you receive your Barclays Connect or Barclaybank card. You can change your Barclays Connect or Barclay bank PIN quickly and easily to one of your own choice, as often as you like at any Barclays cash dispenser. This may help to make it easier for you to memories your PIN.

A Barclays Connect card can also be used over the counter in Barclays branches. Just tell the cashier how much you need, hand

72

BLOCK 6

over the card and sign a voucher. (Saturday morning cash withdrawals are restricted to a maximum of $200 per day.)

Making regular payments

One of the benefits of a Barclays Bank Account is that it can make managing your money easier.

Standing orders and direct debits will allow regular payments such as your mortgage, electricity and insurance to be paid on time without you having to worry about writing a cheque. They are shown on your statement along with other transactions.

Standing orders

These are ideal for regular payments where the amount is likely to remain the same for a period of time. All you have to do is to ask your branch to set up a standing order, giving the name of the person or company to be paid and their bank details.

Direct debits

These work in a similar way to a standing order, but the advantage of a direct debit is that it is particularly useful when the amount or frequency of payment is variable.

A direct debit differs in that you instruct your branch to allow your suppliers (the originator) to collect payments from your account. If the amount or frequency of the payment changes, you will be notified by the originator before it is deducted from your account.

How to stop a standing order or direct debit

If you want to stop a standing order or direct debit payment you can write, telephone or call into your branch. You will need to quote the name of the party to whom the payment is being made, the amount and the date that the payment is due. If you telephone your branch with the details you must confirm your instruction immediately in writing. Alternatively, a direct debit can be stopped by writing to the party to whom it is payable.

73

AN ENGLISH COURSE FOR STUDENTS OF FINANCE

EXERCISES

1.Выпишете выделенные термины из текстов, переведи- те их и запомните.

2.Найдите в словаре перевод следующих глаголов, за- пишите и запомните их.

3. Прочтите текст, переведите его и напишите основные положения о деятельности банка “Barclays Bank” на русском язык, а затем на английском.

74

BLOCK 6

TEST

1. Дополните следующие предложения, выбрав соответ- ствующее по смыслу слово из колонки справа.

4.A … will be made to stop a cheque unless it has been lost or stolen.

5.When you want to … money from your own branch, all you need to do is to write a cheque payable to “cash” and hand it to the cashier.

2.Выберите русские эквиваленты к английским словам в колонке слева.

3. Выберите английские эквиваленты к русским словам в колонке слева.

75

AN ENGLISH COURSE FOR STUDENTS OF FINANCE

Additional Practice 6.1

Credit and credibility

Pre-reading questions:

(a)How many different types of commercial activity does a bank deal with?

(b)How big an investment did a Japanese bank make in a Spanish bank?

In pursuit of a new source of profit, many of the entities that call themselves banks have strayed far from the business of taking and safeguarding the public's deposits and running the payment system. Competition has forced banks to range so far, in so many directions and at such a lick that, perhaps for the first time since the days of Shylock, it is necessary to stop to ask quite what is a bank.

The gales of change will leave many banks looking different in form and substance from a decade ago. Banking is traditionally thought of as one business, not least of all by bankers.

Yet, as Mr Thomas Steiner of McKinsey, a management consultancy, points out. It comprises around 150 different lines of business. There is little that is special about many of them. In future, plenty of these activities will be done by others, either instead of or as well as by banks. On the other side of the coin, many of the things that other financial institutions now do will become the business of some banks. Banking will still be a principality in the kingdom of financial services, but its heartland will shrink. Outsiders will move in. Much of the native population will settle elsewhere. The bankers' diaspora will be wide.

76

BLOCK 6

Crossing the divides

This change is already seen in America, Europe and Japan. American and Japanese commercial banks are pushing their merchant banking as deeply into the securities business as they feel the regulators will let them get away with.

For their part, investment banks and securities houses have become direct suppliers of credit to a wide range of financial and non-financial customers. They offer investment products that are visual substitutes for interest-earning demand deposits. They own and operate non-bank banks that give access to payment systems. In short, they have become providers of services that commercial banks have traditionally offered. Though forbidden from commercial banking in their home markets, American and Japanese investment banks and securities houses happily run such banking affiliates abroad.

It is not only the boundaries between the banking and securities industries that are becoming blurred. So are those with insurance and commerce. In universal banking Europe, tie-ups between insurers and bankers are becoming everyday occurrences.At home, Japanese insurers already have affiliations with banks, through the web of cross-shareholdings of the beg industrial groups. American insurers are lagging behind the trend, but Prudential Insurance, which owns America's third biggest retail stockbroking firm, Pru-Bache, has dipped the waters of banking by buying a small bank in Georgia and more recently a thrift. Everywhere ordinary commercial firms are making deep incursions into financial services. Retailers and manufacturers own securities companies, insurance firms, thrifts and non-bank banks. They offer a wide range of credit, investment-banking and insurance services, to companies and individuals alike.

77

AN ENGLISH COURSE FOR STUDENTS OF FINANCE

Comprehension

1.Are the following statements True or False according to the text? Correct the ones which are false.

1) Competition is gradually forcing banks to question their identity.

2) Most of the different activities done by banks could be done by other types of institution.

3) Regulations in America and Japan are preventing commercial banks from getting into the securities business.

4) Separating the commercial and investment banking activities of some American banks would be very difficult.

2.What does this sentence mean?

"Banking will still be a principally in the kingdom of financial services, but its heartland will shrink."

1)Banking will still be the most important part of financial services.

2)Banking will be absorbed by other areas of financial service.

3)Banking will remain an independent but smaller area of financial services.

4)Banking's position within financial services will be unchanged.

3. Match the statement on the left of the table to the country or area which it applies to, according to the text, by ticking (v) the boxes. Some statements apply to more than one country or area.

True about

Japan America Europe

1)Banks have set up organisations to support share issues.

2)Investment banks here own commercial banks abroad.

3)Links between banks and insurance companies are common here.

78

BLOCK 6

4)Insurance companies here are just getting involved in banking.

5)Here non-banks are starting to provide financial services.

4.Look at how the words and phrases in the box below are used in the text and then choose the correct meaning from those given afterwards.

Vocabulary: Metaphors

5. Metaphors are often very important for understanding the meaning of texts. Here you have more practice in seeing how they work.

Some of the metaphors in the text are listed in the middle column of the box at the top of the next page. On the left are meanings of these but not in the right order. Match the metaphors with their meanings. On the right are the areas of life where those metaphors originated. Again they are mixed up. Match the metaphor with its original area of use. One example has been done for you. Use a dictionary if necessary.

79

80