Unit 3: English for Finance and Banking

Index:

Aims and Objectives

In this unit you will learn and practise vocabulary related to finance and banking.

You will practise the following skills and functions:

The grammar focus of this unit is:

Vocabulary

Terms

cuenta
número de cuenta
cantidad
cajero automático
saldo
banco
gastos bancarios
billete
(U.S.)billete
sucursal
dinero en efectivo
cajero
(U.S.)cheque
(U.S.)cuenta corriente
(British)cheque
talonario de cheques
moneda
comisión
tarjeta de crédito
(British)cuenta corriente
cuenta a plazo fijo
tipo de cambio
divisas
intereses
tipo de interés
inversión
préstamo
oficina principal
dinero
hipoteca
beneficio
índice/tipo
recibo
cuenta de ahorro
acciones
firma
extracto de cuenta
bolsa
cambiar un cheque/cobrar
ganar
invertir
prestar
hacer una transferencia
pagar
firmar
transferir

Phrases

Rellene este formulario, por favor
Quisiera cambiar algo de dinero en euros, por favor
Quisiera hacer un ingreso en mi cuenta, por favor
Quisiera sacar algo de dinero de mi cuenta, por favor

Exercises

Section 1: Vocabulary Practice

Exercise 1: Test Yourself

Exercise Help

Fill in the correct translation for each of the terms below.

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Section 2: Listening Comprehension

Exercise 1: Multiple Choice Questions

Exercise Help

Chose the correct answer.

Recording: show transcript
This exercise can be also done purely aurally/orally:
  1. What does the woman want to buy?
    a. 
    b. 
    c. 
    ?
  2. Where does she want to buy the books from?
    a. 
    b. 
    c. 
    ?
  3. What does the cashier recommend her to do?
    a. 
    b. 
    c. 
    ?

Exercise 2: Multiple Choice Questions

Exercise Help

Chose the correct answer.

Recording: show transcript
This exercise can be also done purely aurally/orally:
  1. Where has the man been?
    a. 
    b. 
    c. 
    ?
  2. Why was he there? Was he:
    a. 
    b. 
    c. 
    ?
  3. What can the cashier change?
    a. 
    b. 
    c. 
    ?
  4. Has the exchange rate gone down, or up?
    a. 
    b. 
    c. 
    ?

Exercise 3: Multiple Choice Questions

Exercise Help

Chose the correct answer.

Recording: show transcript
This exercise can be also done purely aurally/orally:
  1. Where is the bank?
    a. 
    b. 
    c. 
    ?
  2. What is she studying at university there?
    a. 
    b. 
    c. 
    ?
  3. What kind of account does the cashier recommend?
    a. 
    b. 
    c. 
    ?
  4. What's the disadvantage of a deposit account?
    a. 
    b. 
    c. 
    ?

Exercise 4: Multiple Choice Questions

Exercise Help

Chose the correct answer.

Recording: show transcript
This exercise can be also done purely aurally/orally:
  1. Where is Ivan from?
    a. 
    b. 
    c. 
    ?
  2. Ivan doesn't know what to do with:
    a. 
    b. 
    c. 
    ?
  3. One of the credit cards that Pepe recommends is:
    a. 
    b. 
    c. 
    ?
  4. When a bank gives you a loan, you have to:
    a. 
    b. 
    c. 
    ?

Section 3: General Comprehension

Exercise 1: True/False Statements

Exercise Help

For each of the statements below, choose True or False.

This exercise can be also done purely aurally/orally:
  1. If you have money in a deposit account, it normally earns interest.


    ?
  2. If the bank gives you a loan, you don't pay interest on the loan.


    ?
  3. When you pay with a cheque, you must sign it.


    ?
  4. Banks charge a commission for transfers.


    ?
  5. You don't need to have an account in a bank if you want a cheque-book.


    ?
  6. The exchange rate for a currency never changes.


    ?
  7. Interest rates are the same in all banks.


    ?
  8. Mastercard, American Express and Visa are credit cards.


    ?
  9. You can usually use your credit card to get cash from an ATM.


    ?
  10. The Stock Exchange is where people buy and sell shares.


    ?

Exercise 2: Sentence Completion

Exercise Help

Speaking Practice. Complete the sentences you hear, using the example as a model.

Press Play to listen to the instructions:

Section 4: Grammar Practice

Exercise 1: Substitution

Exercise Help

A polite way to ask for something is with the expression "I'd like ...". Let's practise this.

This exercise can be also done purely aurally/orally:
Example:

I'd like a new cheque-book, please. (a receipt)
I'd like a receipt, please.


  1. ?

  2. ?

  3. ?

  4. ?

  5. ?

  6. ?

Exercise 2: Substitution

Exercise Help

The question corresponding to "I'd like ..." is "Would you like ...". Let's practise.

This exercise can be also done purely aurally/orally:
Example:

Would you like a new cheque-book? (a receipt)
Would you like a receipt?


  1. ?

  2. ?

  3. ?

  4. ?

  5. ?

  6. ?

  7. ?

Exercise 3: Transformation

Exercise Help

In American English, people always use "Do you have ... ?". In British English, people often use "Have you got ...?". Let's practise.

This exercise can be also done purely aurally/orally:
Example:

Do you have an account here?
Have you got an account here?

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    B. ?
  2. A.
    B. ?
  3. A.
    B. ?
  4. A.
    B. ?
  5. A.
    B. ?
  6. A.
    B. ?

Exercise 4: Selections

Exercise Help

Chose the correct answer.

This exercise can be also done purely aurally/orally:
  1. a. 
    b. 
    ?
  2. a. 
    b. 
    ?
  3. a. 
    b. 
    ?
  4. a. 
    b. 
    ?
  5. a. 
    b. 
    ?
  6. a. 
    b. 
    ?

Section 5: Consolidation

Exercise 1: True/False Statements

Exercise Help

For each of the statements below, choose True or False.

Recording: show transcript
This exercise can be also done purely aurally/orally:
  1. All banks offer the same services.


    ?
  2. Central banks in the euro zone are supervised by the European Central Bank.


    ?
  3. The European Central Bank is in Germany.


    ?
  4. There are no banks that specialise in services to agriculture.


    ?
  5. All banks nowadays offer online banking services.


    ?
  6. Some banks only have branches in one region or country.


    ?
  7. The interest that banks pay a customer is higher than the interest they charge.


    ?
  8. Banks charge their customers for their services.


    ?

Exercise 2: Dictation

Exercise Help

Listen to the complete recording first. Then go to the textbox and use the > key to listen to the text section by section. Type what you hear into the textbox. For detailed instructions, read the Exercise Help.

Recording: show transcript
?

Exercise 3: Cloze

Exercise Help

Listen to the recording carefully and then fill in the gaps in the text below using the same words.

Recording:

Commercial banks and savings banks receive and hold deposits ? current accounts, savings accounts and deposit accounts, make payments ? their customers, lend money, ? offer investment advice, foreign exchange facilities, and so on. ? banks nowadays also offer online banking services. ? banks only have branches in one region or country; large international banks have ? in many countries.

What they all have in common, ?, is that they make a profit from the difference ? the interest rates they pay on deposits and the interest rates they charge ? loans, and of course from the commissions they charge ? their services.

Exercise 4: Gap Filling

Exercise Help

Choose the correct option to fill the gaps in the following sentences.

This exercise can be also done purely aurally/orally:
  1. If you want to send money to somebody, you can ____ a transfer.
    a. 
    b. 
    c. 
    ?
  2. John Barker has just come back from a business ____ to Japan.
    a. 
    b. 
    c. 
    ?
  3. Hello. I'd like to change this money ____ euros, please.
    a. 
    b. 
    c. 
    ?
  4. We can change the banknotes, but not the ____ .
    a. 
    b. 
    c. 
    ?
  5. What ____ account would you like to open?
    a. 
    b. 
    c. 
    ?
  6. With a deposit account, you get a better ____ of interest.
    a. 
    b. 
    c. 
    ?
  7. A mortgage is a kind of ____ .
    a. 
    b. 
    c. 
    ?
  8. When a bank gives you a loan, they normally ____ interest.
    a. 
    b. 
    c. 
    ?
  9. Would you like to pay ____ transfer or credit card?
    a. 
    b. 
    c. 
    ?
  10. Has the exchange rate gone ____ , or down?
    a. 
    b. 
    c. 
    ?
  11. Ivan asked his friend for ____ information.
    a. 
    b. 
    c. 
    ?
  12. Pepe ____ him about banks.
    a. 
    b. 
    c. 
    ?
  13. If you put your money in a deposit account, it ____ interest.
    a. 
    b. 
    c. 
    ?
  14. Mary is studying Economics ____ Manchester University.
    a. 
    b. 
    c. 
    ?
  15. Can you use your credit card to get ____ from an ATM?
    a. 
    b. 
    c. 
    ?
  16. You can invest your money by buying ____ on the Stock Exchange.
    a. 
    b. 
    c. 
    ?
  17. Big banks usually have a lot of ____ .
    a. 
    b. 
    c. 
    ?
  18. If you want to check your account, you can ask your bank for a ____ .
    a. 
    b. 
    c. 
    ?
  19. Do you get a ____ when you pay with a credit card?
    a. 
    b. 
    c. 
    ?
  20. The person who can give you cash or take your cash in the bank is called a ____ .
    a. 
    b. 
    c. 
    ?

Checklist

Use the following list to check whether you have obtained full benefit from this unit. You should be able to:

You should also have greater skill and confidence in the use of:

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