成人高等教育英语教材第三册04-成人高教英语

UNIT 4 How to Use a Bank

Integrated Skills Development

Passage Banking Services

Everyone needs money to buy food, clothes, and housing. Very few people can produce everything that they need. Today, most people use money to buy these things. Buying and selling is necessary for modern society. Money is important for life, and banks control money in most places. In the United States, there are many different banks, and they offer many different services.
The most common banking service is the checking account. People deposit their money in the bank, and then they can write checks to buy things. A check is a piece of paper. It tells the bank to pay the seller. The bank must pay the seller from the customer's account. The customer usually pays the bank a service charge for a checking account.
Another banking service is the savings account. People can deposit some of their money in a savings account. They do not usually need this money right now. They leave the money in the bank and withdraw it when they need it. The bank will pay interest on the savings account. Interest is the money that the bank gives to the customer.
Loans are an important banking service. Banks give money to businesses and to individuals. A bank may loan money to a business to buy more machines or tools. Some people borrow money from the bank to build swimming pools or to repair their house. The bank always charges interest on loans. The borrower must repay the loan plus the interest. The interest on loans is always higher than the interest on savings accounts.
The credit card is another important service that the bank provides. It makes life easier in many ways. By using the credit card, people no longer need carry about large sums of money while travelling.
Banks in the United States usually have safe deposit boxes. These boxes are in the vault at the bank. The vault is a room that has a very heavy door with a very safe lock on it. Because it is very difficult to get into the vault of a bank, a safe deposit box is a good place to keep important things. Customers can rent the boxes from the bank for a small fee each year. Many people keep their important papers, such as their birth certificate, marriage certificate, or passport, in their safe deposit boxes. Some people keep gold, silver and valuable gems in their safe deposit boxes.
Another banking service is the automatic teller machine. Many banks have machines outside the bank so that customers can get their money any time they want, day or night. Customers can deposit or withdraw. They can withdraw cash any time—if they have money in their accounts.
Banks control the money. They keep money for people, and they give loans. Banks control the interest rate. In this way, they can control the amount of money for business and individual loans. Banks also offer their customers many useful services, such as savings and checking accounts and loans. In addition, banks try to make using money easier with electronic machines.

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