Sometimes people want a special program for investing money or handling their
property. A bank's
trust department
provides the services of advising on and
managing such programs.
There are a variety of other services commercial banks provide. They sell
government
bonds
, loans of money to the government on which interest is paid to the
owner. In addition, banks sell traveler's checks, which are special checks, used instead
of money. They also issue credit cards, such as VISA and MasterCard, and provide
links to brokerage firms for the buying and selling of stocks and bonds.
Exercise 1. Using the words in brackets, explain the meaning of the following
term:
1.
commercial bank (a wide range of services, offers, a financial institution)
2.
interest (paid, for the use of, the price or fee, money)
3.
deposit (in bank accounts, money, sums of)
4.
withdrawal (a bank account, money from, the removal of)
5.
demand deposit (to a checking account, is made, that, can be withdrawn,
and, any time)
6.
time deposit (for withdrawals, a waiting period, may be required)
