Unit 7 Finance

Financial logos around the world:

After the study of this unit, you should be able to:

know the types of bank accountMaster some useful bank termsKnow the procedures of opening an ac

count at a bankKnow how to deposit and withdraw mo

ney at a bank

Unit7 Finance

Lead in: some bank logos in China

Industrial and commercial Bank

Postal Savings Bank of China

China Construction Bank

Bank of Communications

Agricultural Development Bank of China

Agricultural Bank of China

China Merchants Bank

Bank of China

Listening and speakingSome information for understanding task1:

1. Current savings account: A bank account that you can take money from at any time and which usually earns little or no interest.

活期存款帐户2. Time savings account: A savings account

in which the deposit is held for a fixed term or in which withdrawals can be made only after giving notice or with loss of interest.

定期存款帐户

3. Large deposit: It’s a special time deposit. It’s interest rate is the highest one. 大额存款

Reference Answers

Task1:

1. T F T F T

2. 1) A large deposit

2) Open a deposit account

3) $500

4) 2.01%

5) $1,000

Task 2: withdraw money the amount the date account number sign input your password $700 overdraft certain extend fault

Task3Work in pairs. Make a dialogue

according to the given situation in Task3.

Tips for the dialogue: a current savings account: 活期存款 a time deposit account ： 定期存款 a large deposit account: 大额存款

If you choose a current savings account, you can draw and deposit your money at any time. If you choose a time deposit account, the interest rate is higher than the current one, and you can only draw your money at the predetermined time. If you choose a large deposit account, its interest rate is the highest one.

Reading A

Bank Accounts

Reading A Bank Accounts

Words and expressions1. Account n. 帐目 ; 帐户 send in / render an account 报帐 open / close an account 开 ( 结束 ) 户头account for: 导致 ; 引起eg. His illness accounts for his absence.

他因病缺席。 on account of : because of; for the sake of

We delayed our departure on account of the bad weather. 我们推迟出发是因为天气不好

on no account: under no circumstances

决不可以Don’t on no account leave the prisoner unguarded.

这个囚犯决不能没人看守．2. withdraw: take sth./sb. back; remove (money) from

a bank account

to withdraw a claim 撤销索赔 To withdraw or quit after learning difficulties.

知难而退 I want to withdraw a hundred yuan from my savings

account.

3. transfer: He intends to transfer the property to his

son.

他打算把财产转让给儿子。 He has transferred from the warehouse t

o the accounts office.

他已由仓库调到会计室任职。

4. deposit: put (money) into a bank, esp. to earn interest

1) The cheque was only deposited yesterday, so it hasn’t been cleared.

这张支票昨天才存入银行，所以尚未兑现。

2) 他每个月存一笔钱进银行 .

He deposits a sum of money in the bank each month.

5.access: way in; opportunity or right to use… 通道 ; 使用之权 ;( 电脑 ) 存取

1) Citizens may have free access to the library.

市民可以免费使用这个图书馆 .

2) 他是一个很好接近的人 .

He is a man of easy access.

3) I have read-only access to my bank files.

我用只读方式存取我的银行文件 .

6. specific: adj. detail precise and exact

具体的 , 明确的 ;

1) What are your specific aims?

你有明确的目标吗 ?

2) 这笔钱有专门用途 .

The money is to be used for one specific purpose.

7. mature: adj./ v. 成熟 , ( 票据 ) 到期 maturity: n.

1) He is not mature enough to be given too much responsibility.

他还不够成熟 , 不宜给他重任。2) 女孩比男孩早熟。 Girls mature earlier than boys.

3) My plan has gradually come to maturity.

我的计划逐渐成熟。

8. option: n. power of choose; choice

1) He had no option but to agree.

他除了同意别无选择。

2) We have 10-day option on the house.

我们是否购买那所房子有 10 天的选择权。

9. refer to : mention or speak of sth./sb.

Don’t refer to the matter again, please.

请不要再提这件事。 refer to a dictionary 查字典 refer to an expert 询问专家

10. In return: 作为回报 1) 我送给他一份礼物以回报他的帮助。 I sent him a present in return for his help.

2) The bank pays high interest to them in return for their investment.

银行付给他们高利息回报他们的投资。

Text understanding

Read the text and find out the details of the

three types of bank accounts:

a checking account

use checks for withdrawing money

make purchases

pay bills

loan money to others

transfer money

make withdrawals and deposits as you like

A savings account

be not as flexible as checking

accounts

the number of withdrawals and deposits are limited

checks is not allowed to use

the account holders can make deposits and withdrawals through ATM

Time deposits

(certificates of deposits or CD )

leave funds in the account for a specific amount of time

the interest is higher than other types of bank accounts

money cannot be withdrew before the specified time is over

interest can be withdrew without affecting the principal

a penalty is charged for withdrawing principal funds before the maturity

Detail Reading

Reading the text again, then

describe these three types of bank

accounts briefly according to the text.

Reference Answers for Reading A

Task 1.opening an account 自动存取款机savings accounts 填写申请表deposit accounts 向某人提供某物pay bills 金融机构transfer money 存钱取钱

Task 2 1.F 2.T 3.F 4.T 5.T Task 3 1. deposit 2. transferred 3. purchase 4. provide … with 5. In return 6. flexible 7. access 8. options 9. penalty 10.withdrew

Reading B Opening Your First Bank Account in CanadaTask 1 ：1. c 6. h

2. g 7. j

3. I 8. e

4. f 9. b

5. d 10. a

Task 2:1. Chequing accounts, a savings account, a

U.S. account, special accounts for young people and students.

2. You can make withdrawals or transfers at a bank branch or at ATM.

3. You can make withdrawals, pay bills and transfer funds in person at any RBC branch or at any ATM. Use your RBC Client card, you should choose a confidential personal identification Number that acts as your “electronic signature”.

4. You will need to provide two piece of identification, such as your passport; Social Insurance Number card; IMM 1442 or IMM 5292.

5. You can not withdraw or use the money after the cheque has been verified and cleared.

Task3: Group work.Tips ：Banking services include online banking,

telephone banking, personal cheques, etc.

What kind of banking service is convenient for

you in your area? Choose one of the banking

service and talk about it with your partner.

Part IV. TranslationTask 1: 1. I will pay you the whole debt: what I originally borrowed and what I owe you in

interest.2. I’m not sure when he withdrew the money.3. What type of accounts will she choose

depends on his parents’ suggestion. 4. His question is that he doesn’t know how to

apply for telephone banking service. 5. The reason why he opened accounts in this

bank is because the bank is near his home.

Task 2:

Many of the banks and travel services in the western countries provide convenience for the travelers by issuing traveler’s checks. Travelers, while buying the checks, have to make signatures on the checks to the face of the bank or service clerks. During the trip, travelers can cash the checks from the agencies of the bank or the travel service whenever they need after their counter-signatures are recognized. The reason why so many travelers like to buy such checks is because they don’t have to take along much cash and worry about counterfeit signature. The agencies will take back the money they have paid by sending the checks to the issuing offices.

Part V. Practical WritingProof of Income: an office document

the evidence of being employed and earning

a specific amount

demanded in

banks

visa office

tax offices

financial organization

Proof of Income should indicates:

the individual salary

gross pay

pay slip/ salary slip

income tax return

Sample: Income Certificate

To whom it may concern,

             (your name)           is currently employed by          (name of company)         as a         (name of your job)             .  Riya has been working with us since her original hire date of      (date you started)              .   Her position is secure, and we look forward to her continuing employment.

Her weekly/ monthly salary is______. 

(your boss' name and title)             

              (signature)                             

Sample: Income Certificate This is to certify that Mr._____ has been working in the______ for ______ years from to present. Currently,______ works as the director of Financial Department. Mr. ______ 's personal income in resent three years are asfollowings: YEAR SALARY (MONTH) TOTAL (YEAR)2008 ______ ,

2009______ , 2010______ . Please note that Mr. ______ tax income has been subtractedfrom his salary by on behalf of the local taxation bureau.

Contact person:Signature: Tel: Address:

Task 3:• Dear Mr. Brown,• I am writing this letter to inform you about my current economic situation

and provide evidence of my ability to keep up with my financial obligations.

• I have been working full-time for the past 2 years in ABC Company as a Sales Representative. Enclosed, please find the salary verification from my employer, income tax return and credit card consumption record which can demonstrate that I am perfectly able to qualify for a new mortgage, in the amount of $80,000.

• At present, I request that you carefully review all the documents which accompany this letter, as you make the decision whether or not to grant my request for a mortgage.

• Please call me if you have any questions. I can be reached at 233-411276.

• Thank you for taking the time to consider this request.• I, Jenny Black, state that the information provided above is true and corr

ect to the best of my knowledge.• Sincerely,• Jenny Black

Part VI. Problem-solving

Task 1 1. C f 2. D g 3. E e 4. A d

5. F c 6. G b 7. B a