How banks work

Nearly everyone deals with a bank. Yet few understand how banks make the economy grow. Banks help circulate money. Banks accept deposits from individuals and businesses. Than banks distribute this money to other individuals and businesses in the form of loans. Banks pay interest to depositors ( a big reason why people deposit money in banks). Banks also receive interest from borrowers.

Money thus flows in a circular path from people like you – savers – into the general economy and back to you again. In the process it can create goods and services, jobs and profits.

Ex.4 З’єднайте слова та вирази , що подані в правому стовпчику з їх українськими еквівалентами:

1.active account a) банківська розрахункова книжка

2. cancelacheque b) страхування

3. insurance с) спільний рахунок

4.joint account d) анулювати чек

5. maturitypassbook e) активний депозитний рахунок

Ex.5 Складіть діалог, в якому спробуйте висловити власну думку щодо того, чи доцільно мати справу з банком.

Ex.6 Заповніть пропуски поданими нижче словами. Прочитайте та перекладіть текст:

( cash ,exchange,to deal with, to attract, close )

Most banks in the US open at 9:00 and ………..between 3:00 and 5:00, but stay open later on Fridays. Some banks have longer hours in order ………customers.

What’s the best way to carry money safely while you are travelling? There are three possibilities – personal checks from your country, traveller’s checks and credit cards. Some American banks accept foreign checks such as Eurocheques, the problem is that only banks, which are used ………… foreigners will know what Eurocheques are.

It may be more convenient to carry traveller’s checks, which are insured against loss. They should be in dollars, because only a few banks do much in foreign currencies. If your checks are not in dollars, it may take you a long time to find a bank that will ………….them. You can use traveller’s checks almost anywhere – in restaurants, stores or ticket offices – without having to go to a bank. If you run out of them, you can buy more at most banks. Their service charge will vary, though, so ask what it is before you buy your checks.

Americans would say the best way to carry money is to have a major credit like Visa, MasterCard or American Express. Credit cards can be cancelled if they are lost or stolen. And because they are widely accepted in the US, it is easy to use them to pay for lodging, transportation, meals and things you want to buy from larger stores.

Of course, you can’t get along without …….…, but you don’t need to carry much with you.

Домашнє завдання :

Ex.1, Вивчити новий лексичний матеріал

Ex.7 Скласти по 1 реченню з кожним виразом з Ex.4

Питання для самоконтролю:

1. How do banks help circulate money?

2. What kinds of cards do you know?

3. Do you have an active account in the bank?

Unit 7