Text 2. Depositing Money with a Bank

1. current account текущий счет
2. deposit account депозит, депозитный счет; сбер счет
3. paying Платеж
4. standing order платежное поручение
5. notice of intention банковское уведомление
6. expenses Расходы
7. direct debit списание цены проданных продуктов со счета покупателя по специальному соглашению с банком
8. without charge Безвозмездно
9. charge начисления, стоимость, плата; взимать плату
10. overdraft кредит Text 2. Depositing Money with a Bank по текущему счету
11. temporary overdraft короткосрочный кредит
12. facility Деньги; кредит
13. on the other хэнд С другой стороны
14. expenditure Расход
15. balance баланс, сальдо; зд. Остаток
16. overdraw 17. (overdrew, overdrawn) превосходить остаток счета в банке

There are two general reasons for using a bank account. The first and most common is the convenience Text 2. Depositing Money with a Bank and safety provided by a current account at a bank. The second is that small and perhaps regular surpluses are available to be saved, and for this purpose a bank provides deposit accounts.

A deposit account will not offer a high rate of interest and would not be the Text 2. Depositing Money with a Bank best way to save large sums of money for any long period of time, but it is designed to make saving simple, convenient and safe. It is especially appropriate for those who may save small amounts from time to time without any planned regularity or for those who wish to Text 2. Depositing Money with a Bank save for a particular purpose in the immediate future, for example for annual holidays or for the purchase of a major item such as a car.

Most customers of bank who have opened a deposit account will also have a current account and this makes the transfer Text 2. Depositing Money with a Bank of amounts of money from one to the other an easy matter. Regular payments into a deposit account can be мейд through a standing order to the bank that will automatically transfer the agreed amount according to your instructions. Other payments are мейд on standard forms but it is most convenient and Text 2. Depositing Money with a Bank provides a useful record if the depositor uses a paying in book. Interest is calculated every six months and added to the account. The rate of interest varies from time to time and is publicly advertised in any bank. Because the bank uses money deposited with them to Text 2. Depositing Money with a Bank lend to others it normally requires about seven days notice of intention to withdraw money from a deposit account, but unless there is a heavy demand for money they are not likely to insist on this and cash is often immediately available to those who wish to withdraw it. There Text 2. Depositing Money with a Bank is an assumption that such notice was given and you would lose seven day’s interest on the money.

The increasing need for security and the use of computers in wage payments have combined to make it more common to have a bank account than to Text 2. Depositing Money with a Bank be without one. This kind of account is a current one and its most common use is a single regular payment in either a weekly wage or a monthly salary and regular payments out to meet the normal everyday expenses. Most payments are still мейд by cheque although the use Text 2. Depositing Money with a Bank, of the standing order or the direct debit is becoming very common. It is normally expected that a current account will remain in a balance and customers who regularly maintain an agreed minimum balance are often given the services of the bank without charge. In general, however, charges are Text 2. Depositing Money with a Bank мейд which vary with the size of the balance, the amount of use of the bank’s services and the number of transactions. If the account is overdrawn a further charge, which is interest on the overdrawn amount, is also мейд.

Overdrafts are not permitted automatically and anything other than Text 2. Depositing Money with a Bank a small temporary overdraft would have to be by agreement with the bank manager. Such a facility is often useful particularly when there is a short term disbalance between income and expenditure. On the other хэнд, since money in a current account does not attract interest, it is not a Text 2. Depositing Money with a Bank good idea to maintain large cash balances; these would be better transferred to a deposit account or to an alternative form of saving.

Questions on the text

  1. What are the two main reasons for opening a bank account?
  2. Which type of account is used by those who wish to save Text 2. Depositing Money with a Bank?
  3. What kind of saving is this type of account most suited to?
  4. What is a standing order?
  5. Why does a bank sometimes need notice of intention to withdraw money from

Saving accounts?

  1. What is the most common use of current accounts?
  2. Why are some customers not charged Text 2. Depositing Money with a Bank for the facility of a current account?
  3. Why is it not a good idea to retain large balance in a current account?