II. Read and translate the text.

Modern banks offer many services to businesses as well as to individual customers. The service menu of banks does not remain unchanged as new services are constantly being introduced.

Here are some of the most widely used banking facilities:

A credit card enables the holder to buy goods and repay the credit card issuer at a later date.

A loan is an amount of money borrowed from the bank which must be repaid at a fixed rate of interest.

A mortgage is a loan to buy property.

An overdraft is a loan made by a bank to a customer so he/she may take out more money than is actually in a bank account.

As well as offering credit facilities, banks provide services to allow customers to make payments:

Direct debit is a system of paying bills, etc. by having money automatically transferred from a bank account.

A standing order is an arrangement with a bank to pay a certain amount to another person or organization at regular intervals.

Most banks offer a foreign exchange service - the facility to change money from one currency to another.

In recent years banks have diversified, and now offer such services as insurance, investment advice and home-banking (telephone and Internet) facilities.

III. Answer the questions:

Whom do modern banks offer their services?

What does the credit card enable the holder?

What is a mortgage?

What isan overdraft?

What isDirect debit?

What kind of an arrangementis a standing order?

IV. Read and translate the text.

V. Retell the text.

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IІ. Read and translate the text.	\|	OPENING AN ACCOUNT

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