Lesson ThirtyPersonal Banking

Guide QuestionsAnalysis and ExplanationReading ComprehensionSummary of The Lesson

Guide Questions

What was the first thing to do if you want to deposit your money in a bank? What is a passbook savings account? What will the bank give him as a result of using his money when one deposits money in a bank? When can one make deposits to or withdrawals from a savings account? Why are checking accounts also called demand deposit accounts? Does time deposit accounts pay higher interest rates than saving account? What special way can people under 18 deposit their money in some country? Do all the accounts require to keep a minimum deposit in the account?

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One way of making the best use of the money you earn is to deposit it into the bank.Because banks can help you keep track of your paychecks,save for college or a car and pay your phone,gasoline,or other bills.But before you open an account ,you have to make sure what kind of bank to choose from,what type of bank account you need and how banks figure out their interest.Here are some tips for your reference

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First ,choose a bank that provides you best service and special treatment. And it shall compound your interest twice or four times a year and make loans when you need to borrow money for a car or college or some other major purchase. Then decide on the right kind of account or accounts you want among the saving accounts, time accounts and the checking accounts which often accompany with different requirements from the banks. Ultimately, being a good customer of long standing will help when you need a loan.

Personal Banking Have you ever had a bank account ?If you have ,then you have personal banking .You can put your small amounts of money — your allowances and your earnings from odd jobs —— into the bank .A bank account has many uses ,as you can read about in this last selection .

You work hard for the money you earn .How can you make it start working for you ?Bank it !Banks can help you keep track of your paychecks , save for college or a car ,and pay your phone ,gasoline , or other bills . 　 return　

How do you choose a bank? Banks compete for customers just like other places of business ,so you can shop around for the best bargains . Should you pick a commercial bank or a savings and loan association ? There used to be big differences in the services different kinds of banks could offer . But easier banking rules and new development in technology have allowed banks to become more flexible these days .Read newspaper ads, talk to your parents ,and talk to representatives of a few banks before you makes a decision . return

Another thing to think about is what type of bank account you need .Will you make only occasional deposit— from odd jobs and gifts —— and be able to let your money “sit” and earn interest? Will you be depositing money regularly —— from a paycheck ? Will you need a checking account to pay off bills ? Have an idea of how you plan to use your money before you open an account .

Here are some of the account you can choose from . Savings accounts : Perhaps ,when you were in grade school ,you had “bank day” each week or month .You deposited a dime or quarter in your local bank ,and the teller wrote the amount in a little book that had a record of your deposits . return

That was a passbook savings account ， and it’s still a good way to bank your money .The money in this account draws interest , which is the bank’s way of paying you for the use of your money. ( Banks combine the money they take in and lend it out or invest it .After a period of time ,the money comes back to the bank with interest ,some of which they, in turn, pay to depositors .) Today, the government allows savings banks to pay a maximum of five and a half percent interest per year on a savings account. Most banks pay the maximum rate ,but you can earn different amounts depending on how frequently they figure out your interest . return

Banks that compound your interest — add it into the main sum — at the end of the year , wind up giving you less money than banks that compound your interest twice or four times a year .Check around .Some banks compound interest daily . Most banks allow students to have small savings accounts — these banks have no minimum requirements for the accounts .You can make deposits to or withdrawals from a savings account at any time ,just by presenting your passbook .Often, for a small free , the bank will write a check or money order for you if you have to pay a large bill or send money through the mail . return

Time deposits : These accounts pay higher interest rates than savings accounts .But you have to make a minimum deposit ,and you have to leave it in the bank for a certain period of time .The smaller the minimum , the more time the account must remain in the bank .Early withdrawal means you have to pay a penalty .That could end up costing you more than if you had a low-paying savings account to begin with .

Checking accounts: These are also called demand deposit accounts ， because by writing out a check, you demand that the bank pay the amount you mention to the party named on the check . return

There are three main types of checking accounts .A regular checking account usually requires that you keep a minimum deposit in the account at all times. There is no charge for the checks you write .A special checking account requires no minimum. But you do have to pay for each check you write ， and there is a monthly service charge .Negotiable order of withdrawal (Now) accounts require higher minimums than regular accounts. They pay interest, usually about two or three percent. There are no monthly service charges or pay-check frees. In some states ,people under 18 can only have joint checking accounts with a parent. Other banks offer special deals in checking accounts if you already have a savings account there . return

Have you figured out yet what type of account you need ? Here are some more shopping pointers for choosing banks . Find out whether students get special treatment .Often ,to attract young savers, banks will not require minimum deposits for students. Convenience is important .How close is the bank? How many branches does it have ? what hours is it open? Can you get a computer card for automatic banking ? Are the tellers friendly ? All of these factors make a big difference in how useful your bank is . return

See if the bank makes the kinds of loans you may need .The time may come when you need to borrow money for a car or college or some other major purchase .Bankers like to deal with people they know ,so being a good customer of long standing will help when you need a loan.

return Simplified from Science World,Oct.28,1983. Approximately 1050 words.

Bank it! Banks can help you keep track of your paychecks, and pay your phone. 1 ) The first bank belongs to the conversion of a noun into a verb. 第一个 bank 属于词转换 , 由名词类作了动词 .2 )keep track of : a fixed phrase , to master some clues to sth.., to keep contact with 掌握 ---( 或情况 ), 保持 ------ 对的联系 . The police keep track of the family of the victim in order to investigate the accident. 警方保持与受害家属的联系以调查此事。 3) Keep track of your paychecks :In this sentence it means “ be inf

ormed of the amount of money you’ve earned”. return

Banks compete for customers just like other places of business, so you can shop around for the best bargains1)compete for : contest against. 这里的意思是“为争取 ------ 而竟争”。Most people compete for the best garden in the town.2)shop around for the bargain, 这里 shop 属于名词转类成了动词， around 表示“四处走动” , for“ 为得到” bargain“ 为便宜货”，因此译成“货比三家”。

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ads: short form for advertisements ( 广告 )

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deposit v. to put down , lay 放下，放置 1) A taxi deposited me in front of the museum . 出租车送我到博物馆前下车。 2 ） n .savings, foregift 存款，押金 Five-cent deposite will be charged on soft-drink bottle.软饮料的瓶子要付 5 美分的押金。 return

Odd adj. Additional, surplus, strange 剩余的，额外的，奇怪的 She hoped to make some odd dollars during her summer vocation.他希望在暑假里赚点外快.He is an odd man.他是一个怪人 return

Will you need a checking account to pay off bills?1 ) Checking account: this is American English.= current account , i.e.a bank account which usually does not earn interest and from which money can be taken out at any time by cheque ( 支票 )2 ) pay off: to repay all the money one owes to the other. 还清 .She expects to pay her debts off shortly. 她预计不久就会还清所有的债务。

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Have an idea of how you plan to use your money before you open an account.在开户之前要想一想怎样使用你的钱。 Have an idea of /for/ that---: think, plan, consider. The purpose is to have a better idea of consumer tastes 目的是想更好地考虑用户的喜好。 I had an idea that you were here.当时我还以为你在那儿。 return

savings account : In American this refers to any interest-earning account

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grade school: primary school ( in American) return

invest v.1)To commit money in order to gain a financial return. 投资，耗费She invested all her love in her younger sister ．他把他的爱倾注在妹妹身上 .2) To clothe ; adorn 给 ------ 披上 , 装饰 Spring invests the trees with leaves. 春天给树木披上绿叶。 return

in turn: while in their turn return

Banks that compound your interest —— add it into the main sum —— at the end of the year, wind up giving you less money than banks that compound your interest twice or four times a year.1 compound: 使复利 2 wind up giving sth./ wind up with sth. = end up doing sth./end up with sth., 表示结果，意思是：“最后干某事”。 He refused to believe her ,but wound up apologizing. 他拒绝相信她的话，但最后却道了歉。 Divorced people don’t have to wind up hating each other 离婚的夫妻不必到头来彼此相恨。 3 wind v.1) to finish The meeting finally wound up in the small hours. 会议终于在翌日凌晨结束。 2) to get sth.. finally. If I work hard for years ,what will I wind up with? Money, position, and respect? 如果我连年努力工作，最后会得到什么呢？金钱，地位和他人的尊敬？ 3) wind up giving you less money: finally pay less interest.

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Most banks pay the maximum rate, but you can earn different amounts depending on how frequently they figure out your interest. 大多数银行能支付最高利息，但你所得的利息又因银行的计算方法的不同而不同。 figure out : calculate,understand        Can you figure out the total cost out ? 你能把全部成本计算出来吗？  I just can’ figure it out .

我弄不懂这事是怎样发生的。 return

money order: 汇票，汇款单

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That could end up costing you more than if you had a low-paying savings account to begin with.这样你甚至于不如最初以低利息存款的储蓄帐户。 begin with :首先，以 ----- 为起点 The ocean began with little drops of water .大海是由点点滴的水汇成。 return

charge 1)v. to load to capacity; fill . 使饱和 , to ask for price 索价 His spirit was charged with sorrow. How much do you charge for mending a pair of shoes?2) n. price; expenses价钱，费用 No admission charge If the material was found faulty, we shall replace it free of charge.

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Negotiable order of withdraw (Now )accounts:能开据可转让支付命令的活期存款帐户。

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deal : n. making trade 交易 close a deal 成交 make ( do ) a deal 做交易 　　　　　　　　　　　　　　　　　　

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All of these factors make a big difference in how useful your bank is.make a difference in : have an effect on 意思是“在 ------ 方面有关系，“有影响” ,difference 前面可加限定性动词 some, no, big 。I think what you do make a big difference.我认为你所做的有很大的影响

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Reading ComprehensionTrue or False

Banks can help you pay your phone,gasoline or other bills.

TIt does not matter what kind of bank you choose to look after your money.

FBanks invest the money they get from savings bank accounts.

T

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The government allows banks to give customers the same rate of interest on savings bank accounts .

FIt is better to have a time deposit especially if you need to withdraw your money early .

F

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Multiple-choice 1. Personal banking refers to ______ .

[A] The money saved in a bank [B] a bank owned by a person [C] activities taking place between a person and a bank [D] banks serving individuals only

key: [C] return

2. Before you open an account , you have to

decide all of the following ,except ______ . [A] what kind of bank to choose [B] what type of bank account you need [C] how banks figure out their interest [D] how your money can start working for you

Key: [D] return

3. “Bank day” for grade school pupils refers to a

day on which children ______.

[A] have their classes in a bank [B] visit a bank [C] raise funds for the bank [D] begin banking very small amounts of money

Key: [D] return

4. When you ask for a check or money order

from your savings account ,the bank often _____ . [A] charges a small amount of money [B] agrees without any charges [C] demands quite a lot of money [D] asks for a penalty

Key: [A] return

5. In order to make the best use of bank

deposits one has to _____ . [A] go to the closest bank [B] put one’s money in separate banks [C] become a long standing customer of a bank [D] open a time deposit

Key: [C] return

Questions for discussion

There are three main types of checking accounts. What are they?

What will banks deal with students in order to attract their savers?

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Comment

The author of the article points out what is the good way to set aside the money you earn .Before you decide to put your money in the bank, you should make these things clear, such as the kind of bank ,the type of bank account and the interest you will get.He also emphasizes the importance of being a good customer of long standing.On the whole, the bank will not only make your

money safe ,but also help you earn someaccording to what we are suggested.

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Outline of the textComment on the story

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Answer: you should choose a bank from some ones.

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Answer: When one deposits some money in a bank, the teller will write the amount in a little book that has a record of one’s deposits. That little book is called a passbook savings account . return

Answer: Interest.

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Answer: Without fixed days

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Answer: Because by writing out a check, you demand that the bank pay the amount you mention to the party named on the check.

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Answer: Yes, it does. return

Answer: They can only deposit their money with their parents.

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Answer: No,they don’t.

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Answers to the discussion questions.

There are a regular checking account,a special checking account and a negotiable order of withdrawal account.Banks will not require minimum deposits for students.

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