SERVICES IN A BANK

1. Banks offer their customers different services mostly connected with organizing money. When you are a visitor to country you'll probably go there for two reasons: to exchange currency or to put your money on a deposit or savings account.

When you're exchanging foreign currency in a bank, look for a sign saying "Foreign Exchange" or if you have traveller's cheques in Britain simply "Change". If you have pounds, however, you can cash them in the main part of a bank. Each time you exchange money you'll have to pay a small charge called commissions. Because of this it's cheaper to exchange several notes together than to exchange them one at a time.

If you came to Britain for more than a few weeks you can open a current account at a British bank. In this case the bank may ask you for a reference (the name and address of a person who knows you) from someone who has a bank account in Britain.

Another way to keep your money safe is in an account for saving money — called either a savings account or a deposit account. Instead of a cheque book, you usually get a small book which you use to pay money in and to take it out. All banks and the Post-office have accounts like this and they'll be happy to tell you about them.

2. In a bank you usually have a current account, which is one where you pay in your salary and then withdraw money to pay your everyday bills. The bank sends you a regular bank statement telling you how much money is in your account. You may also have a savings account where you deposit any extra money that you have and only take money out when you want to spend it on something special. You usually try to avoid having an overdraft or you end up paying a lot of interest. If your account is overdrawn, you can be said to be in the red (as opposed to in the black or in credit).

Sometimes the bank may lend you money — this is called a bank loan. If the bank (or building society) lends you money to buy a house, that money is called a mortgage.

The money that you pay for services, e.g. to a school or a lawyer, is usually called a fee or fees; the money paid for a journey is fare.