J. Complete a summary using the vocabulary

Bank is a lawful organization which renders a wide range of services to individuals. They r…. and hold deposits, p… money according to custoners instructions, l… money, etc.

There are still many people in Britain who do not have b… a… Ttraditionally, factory workers were paid wages in c… on Fridays. Non-manual workers, however, usually receive a monthly salary in the form of a c… or a t… paid directly into their bank account.

A c… account (US: c… a…) usually pays little or no interest, but allows the holder to w… his or her cash with no restrictions. D… accounts (in the US called time or notice accounts) pay i…. They do not usually provide c… (US: c…) facilities, and notice is often required to w… money. S… o… and diect d… are ways of paying r… bills at regular intervals.

A bank l.. is a fixed sum of money, lent for a fixed period, on which i… is paid; banks usually require someform of c… before lending. An o… is an arrangement by which a customer can overdraw an account, i.e. run up a d… to an agreed limit; i… on debt is calculated daily.

B… make profit from the differentials between the i… r… they pay on d… and those they charge on l…. They are also able to l… more money than they receive in depoits because d… rarely withdraw all their money at the same time. In order to find a trade-off between y… and r…. If they fail they are called i…

K. Draw the banking services flow chart and use it as a plan for speaking about bank functions.