3. Operating an account CHECK YOUR ENGLISH VOCABULARY FOR BANKING AND FINANCE

CHECK YOUR ENGLISH VOCABULARY FOR BANKING AND FINANCE

3. Operating an account

A. Match the formal phrases on the left with the informal phrases on the right. 1 I deposited some money. I withdrew some money. The funds have been transferred. My account is overdrawn. It's paid by standing order. My account was debited. My account was credited. I used an ATM. I made a balance enquiry. a The money's been sent. I paid in some money. It goes out of my account every month. I went to a cashpoint. I took out some money. I'm in the red. I checked my balance. It went into my account. It went out of my account. 2 b 3 c 4 d 5 e 6 f 7 g 8 h 9 i B. Match the words with the parts of the cheque. account number amount in figures amount in words cheque number logo payee signature sort code C. Answer the questions. 1 Who has this cheque been made out to? ______________________ 2 Has it been signed and dated? ______________________ 3 Is it crossed or uncrossed? ______________________ 4 Can it be paid into somebody else's account? ______________________ D. Choose the words to complete the sentences. 1 After they have been paid in, cheques usually take three working days to __________. A pass B credit C clear 2 When I write out a cheque, I keep a record by filling in the __________. A receipt B invoice C counterfoil 3 If you don't have a cheque book, you can pay by getting a _________ from a branch of your bank. A banker’s draft B bank paper C bank ticket 4 Unlike a personal cheque, a banker's draft can't __________. A be rejected B bounce C crash 5 A banker's draft is also known as a bank draft or a __________. A banker’s cheque B banker’s note C banker’s ticket 6 If you need to borrow money, you can apply to your bank for an __________. A overdraft possibility B overdraft facility C overdraft opportunity 7 If you need to borrow more money from your bank, you can ask them to increase your _________. A overdraft limit B overdraft level C overdraft supply 8 If you want to borrow money from a third party*, you may have to supply a __________. A banker’s support B banker’s promise C banker’s reference 9 A banker's reference proves to a third party that you are __________. A moneyed B creditworthy C rich enough 10 Regular automatic payments of the same amount (e.g. to a charity) are called __________. A standing orders B direct debits C direct orders 11 Regular automatic payments of varying amounts (e.g. electricity bills) are called __________. A standing orders B direct debits C direct orders 12 With my savings account, I have to ________ 30 days notice if I want to ________ a withdrawal. A say/do B give/make C ask for/take 13 Many employees receive their salaries directly into their accounts by __________. A BACS payment B BATS payment C BAPS payment 14 BACS stands for Bankers Automated __________. A cheque system B cost system C clearing system "A third party" means another person or company

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