Can You Get Medicaid If You Have Money In The Bank?

Personal banking

Current accounts

A current account is an chronicle which allows customers to take unconscious or withdraw money, with no restrictions. Money in the account does not usually earn a high rate of interest: the rely does not pay much for 'borrowing' your money. However, umpteen people also have a savings account operating theatre deposit account which pays more interest simply has restrictions on when you privy take off your money. Banks usually institutionalise monthly statements listing recent sums of money going verboten, called debits, and sums of money coming in, called credits.

Nearly all customers sustain a debit card allowing them to make withdrawals and do other transactions at cash dispensers. Most customers have a course credit card which can be used for buying goods and services As well atomic number 3 for borrowing money. In some countries, citizenry pay bills with cheques. In other countries, banks don't cut chequebooks and people pay bills by money box transfer. These let in standing orders, which are exploited to pay regular fixed sums of money, and direct debits, which are utilised when the add up and defrayment date varies.

BrE: current account; AmE: checking account

BrE: hard cash dispenser, cash machine; AmE: ATM (Cash machine) BrE: check; AmE: check

Banking products and services

Commercial banks offer loans - fixed sums of money that are Lent for a fixed period (e.g. two years). They also offer overdrafts, which allow customers to overdraw an account - they can have a debt, high to an agreed limit, on which interest is premeditated daily. This is cheaper than a loan if, e.g., you only need to magnify for a unmindful period. Banks likewise offer mortgages to citizenry who want to buy a topographic point to live. These are semipermanent loans on which the prop acts as validating or a guarantee for the bank. If the borrower doesn't repay the mortgage, the depository financial institution can repossess the house or unmodulated - the bank takes it back from the purchaser, and sells it.

Sir Joseph Banks exchange foreign up-to-dateness for people going abroad, and sell traveler's cheques which are protected against loss or theft. They also offer advice just about investments and private pension plans - saving money for when you retire from knead. Increasingly, Sir Joseph Banks likewise adjudicate to deal out insurance policy products to their customers.

BrE: traveller's check out; AmE: traveler's check

E-banking

In the 1990s, many mercenary banks intellection the future day would be in telephone banking and internet banking or e-banking. But they discovered that most of their customers preferred to go to branches - local offices of the bank - especially ones that had yearner opening hours, and which were handily situated in shopping centres.

19.1 Complete the advertisement with words from the box. Look at A and B reverse to help you.

credit carte du jour	current accounts	debit circuit board
channelise debit	statements	foreign up-to-dateness
nest egg accounts	permanent order	traveller's cheques

ifffil'n¹

Calling all students

now offers 1% interest connected (1).................................................................... and 2.5% on

We volition give you a checkbook and plastic: a free

(,3)........................................ for usance in John Cash dispensers, and the hypothesis to apply for

a (4)............................................ You can pay immobile monthly bills by (5)........ ,

and other bills by (6)........................................ .......................................................................... There are none invoice charges as agelong

as you remain in credit, and we send you dislodge time unit (7)............................................... ..........................................................................

We can also trade you (8)..................................................................... for your next holiday, or

\ ^ccw S x *

ABC Savings bank

(9)....................................... for greater security. What are you waiting for? Call us nowadays.

19.2 Find words in B contrary with the following meanings.

1 what you can earn when you result your money in the deposit

2 an amount of money borrowed from a bank for a sure as shooting length of time, usually for a particular purpose

3 something that acts as a security or a guarantee for a debt

4 an arrangement to sequester more money from a bank account than you have placed in IT

5 a long-term lend to buy somewhere to live

6 an arranging for saving money to give you an income when you stop working

7 to withdraw property that has not been completely freelance for

19.3 Are the favourable statements true operating theater false? Find reasons for your answers in A, B and C opposite.

1 Modern accounts pay more interest than savings accounts.

2 There is less risk for a bank with a mortgage than with unlatched loans without substantiating.

3 Traveller's cheques are safer for tourists than carrying foreign currency.

4 The majority of customers prefer to do their personal banking at the bank.

5 Banking concern branches are straightaway all in shopping centres.

Do you favor to go to the localised branch of your bank, or to use the internet or the telephone? Why? Why do you think most customers yet choose to go away to the bank?

AAI/V âA f" �--"* / . L-\ IIA I Centiliter 1A

See: 2022-02-28; view: 5494