banking_products.pdf - My salary is paid directly into a low-interest(1 CURRENT ACCOUNT I can withdraw money from automatic(2 CASH DISPENSERS with a

banking_products.pdf - My salary is paid directly into a...

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My salary is paid directly into a low-interest (1) CURRENT ACCOUNT I can withdraw money from automatic (2) CASH DISPENSERS with a cash card, so I hardly ever actually go into a bank. I pay regular, monthly bills by way of a (3) STANDING ORDER: the bank pays them according to my instructions, and debits my account. I pay irregular bills by (4) CHEQUE . Nearly everyone I know in Britain has a cheque book, but when I lived on the Continent, I found that people hardly used them. They often paid cash, or paid bills at a post office with a paying-in slip. I also have a (5) CREDIT CARD , which is useful for ordering things by post or on the telephone, and for travelling worldwide. I also use it in shops and restaurants, but try not to spend more than I can pay when the bill comes a month later, as this is a very expensive way of borrowing money. The annual interest is exorbitant well over 20%. I used to have a (6) DEPOSIT ACCOUNT in a building society which paid higher interest than the current account at the bank, but had restrictions as to how and when I could withdraw my money.
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  • Winter '18
  • linh

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