Understanding details. Mark True (T) and False (F) statements according to the text

21. One can’t open a current account if he is a student.

22. You can withdraw your money only with the manager’s permission.

23. The current account holder must keep his account in credit.

24. A monthly statement is never sent to the holder of a current account.

25. You can not use your current account for payment for some purchases.

26. To open a current account an applicant must be of age.

27. Bank are ready to offer many facilities to their customers.

28. If one wants to have a bank loan, he has to insure his savings first, doesn’t he?

29. The interest rate on overdrafts vary from country to country.

30. An account holder can have overdrafts on his account whenever he wants.

31. A personal loan is given for an indefinite period of time.

32. The most important advantage of a personal loan is a fixed interest rate on it.

33. Both current and deposit accounts have their advantages and disadvantages.

34. Deposit accounts can be open only with the manager’s permission.

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Current accounts

There are different kinds of bank accounts. The most popular is the current account. It pays no interest but it has other advantages. Firstly, it enables people to keep their money in safe place. Secondly, it allows them to withdraw it at any time. Thirdly, it provides them with a cheque book so that they do not have to carry a lot of cash.

To open a current account it is necessary to see the branch manager. He has to decide whether the applicant is likely to keep the account in credit. A current account holder can only overdraw with the manager’s permission. The manager will therefore want to meet the applicant to get the necessary background information. For example, he will want to know the applicant’s occupation and place of work. He will also probably want a reference from his or her employer. If, after the interview, the manager is satisfied with the applicant he will approve the application, arrange for the applicant to be given a cheque book and arrange for a monthly statement to be sent to him or her.