Unit 14: Banking

Question 1

Another word of high-street bank

Answer 1

Commercial bank

Question 2

Private investment funds for wealthy investors that use a wider variety of risky investing strategies than traditional investment funds to achieve higher returns

Answer 2

Hedge funds

Question 3

An account that generally pays little or no interest, but allows the holder to withdraw his or her cash without any restrictions

Answer 3

Current account(uk) / checking account

Question 4

A card which guarantees payment for goods and services purchased by cardholder, who pays back a bank or finance company at a later date.

Answer 4

Credit card

Question 5

A computerize machine that allows bank customers to withdraw their money, check their balance and so on

Answer 5

Cash dispenser/ATM/ cash point

Question 6

An account that pays interest, but usually cannot be used for paying cheques (UK) or checks (US), and on which notice is often required to withdraw money

Answer 6

Deposit account (UK) / time account (US)