T: You may overdraw your account up to the limit which depends on your monthly income. Is there anything else you want to know?

S: No, thank you, not for the moment. A checking account sounds right for me.

T: Now would you mind answering a few questions so that I can complete the application form? And the next step you must do is to give us a specimen signature.

S: Why do you need it? T: It's for comparison. Every time we receive your check or any other order written by you, we have to examine your signature on it to be sure it's genuine.

S: I see. Where do I sign?

T: There is space for your signature at the top of the application form. Would you please have a look at one of our forms while I am making a note of the details of your passport? Just ask me if there are any points you'd like me to explain.

S: Thank you, but why do you want my passport?

T: Sorry, but we have to ask for identification. Banks in our country don't open blind accounts for non-existent or unidentified persons. This is to prevent tax evasion.

S: Oh, I see. Here is my passport. By the way, can my wife use this account?

T: Oh, no. You are the only account holder. An account with two or more account holders who have equal rights is called a joint account. Husbands and wives often open such an account. If you are interested, we could

arrange it.

S: No, no, no. I just ask.

T: There is one more way for your wife to use your account. You may authorize your wife to use it granting her power of attorney: to make withdrawals, sign checks, receive your statements or even overdraw the account.

S: I see. I'm going to think it over.

T: Good. Here is your check book. Good luck to you.

B. The Safety PIN

Helen Diachenko, a young Ukrainian trainee, who is studying Management in London, visits her local bank branch where she has an account. She is having a talk with Miss Cook, the bank clerk.

D: Hello, Miss Cook. I wonder whether my Eurocheque card has arrived yet?

C: Hello, Miss Djachenko. Yes, I think it has. Could you tell me your account

number?

D: 5794693

C: Here it is. Would you mind signing it here on the back? Use this special pen, please. As you can see, it's valid till the end of the year. ...Thank you. This sealed envelope contains your PIN. Could you sign this receipt for it, please?

D: Excuse me, what pin?

C: P-I-N. That stands for personal identification number'. You need it to operate the ATM (cash dispenser). Please remember no one else but you must have access to it.

D: Oh, yes, sure. And can I have some Eurocheques as well?

C: I can just print them for you. It'll take me only a minute. Here you are. Ten cheques. And would you sign for them on this slip?

D: Certainly. And I have to show my cheque card whenever I use a cheque to pay for something, don't I?

C: That's right. Simply issue (bring out) the cheque in the usual way and write the card number here in the space on the reverse side of the cheque. Then you show your card to the payee so that he or she can compare the details with those on the cheque.

D: Is there any limit to how much I can write?

C: Oh, it's important. Here in England cheques issued under a cheque card are guaranteed for any amount up to 200 GBP.

D: What do you mean 'guaranteed'?

C: The bank guarantees to pay that sum to the beneficiary. That's why our bank's customers so widely accept Eurocheques.

D: Even if there is no money on my account, is there?

C: Yes, Eurochques needn't be covered. The teller debits the customer's account every time he or she writes one. And they can't be stopped either, because the bank, as the drawee, must honour them.

D: So what should I do if I lose them?

C: In that case you should inform us at once. We advise all our customers to keep all their cheques and cheque cards separate and to look after them carefully.

D: I see. I am leaving for Paris for a couple of days. They take Eurocheques in France, don't they?

C: You can use them all over Europe and around the Mediterranean, too. Here is a brochure listing the countries and the limits they usually accept.

D: That's good. See you next time. Good bye.

C: Bye. I hope you have a good trip!

Commentary:

used to get my wages paid in cash – звик отримувати платню готівкою

to have their salary paid directly

into a bank account – переводять свою зарплату безпосередньо на банківський рахунок

current account (checking account) – поточний рахунок

savings account (deposit account) – ощадний рахунок

specimen signature – зразок підпису

order written by you – розпорядження, написане Вами

it’s genuine – він (підпис) є справжнім

you’d like me to explain – якщо ви хочете, щоб я вам пояснив

we could arrange it – ми можемо влаштувати

Power of Attorney - повноваження

to be valid (invalid) – бути дійсним/недійсним за строком

sealed envelope contains PIN – скріплений печаткою конверт містить особовий номер особи

ATM = cash dispenser

(Automatic Teller Machine) - банкомат

to have access to – мати доступ до

it’ll take me – мені знадобиться (часу)

here you are – будь ласка (ось вони)

2. Say what you have learnt about:

1. current account;

2. the procedure of opening a bank account;

3. Eurocheque and card;

4. the ways salary and wages are paid;

5. the purpose of specimen signature;

6. the purpose of PIN;

7. safety precautions for a cheque holders;

8. establishments that accept cheques

3. Find English equivalents (column B) of the Ukrainian ones (column A):

A/ Філія, галузь; бути невпевненим; операціоніст у банку; заробітна плата; класти гроші на рахунок, брати гроші з рахунку; перевищувати кредит по поточному рахунку; заповнювати форму заяви; рахунок на пред’явника; ухилення від сплати податків; отримувати фінансовий звіт; практикант; платник, отримувач; приймати гроші, чек до сплати.

B/ Trainee; payer; beneficiary; to receive statements; drawee; payee; tax evasion; a branch; blind account; salary and wages; to be uncertain; a bank teller; to pay in money; to withdraw money; to overdraw current account; to complete an application form; to accept money; checks; to honour money, checks.

4. Answer the questions:

• Why does Steve Kotov want to open an account?

• Why does the Bank ask for identification?

• What information does the letter need to complete the application?

• What is PIN? Why do you need it?

5. Fill in the blanks with the terms you have learnt in this lesson:

1. the money which an employee earns each month is…

2. the hours when a bank is open are its …

3. a machine which a customer can operate to get cash is …

4. the money banks pay on savings is called …

5. when a customer withdraws a sum of money, the transaction is known as …

6. the sum up to which a customer can overdraw his or her account is …

7. a person who has a bank account is called …

6. Read, translate and retell the texts.