book 2Unit 2 B

1、Text B,Are We Headed for the Cashless Society?,Your questions,When you are shopping nowadays, do you prefer to use cash or check? Credit cards have been widely used “in place of money”. Do they really replace money? Does the use of credit cards have any influence on / change your consuming behavior?

2、 What are the advantages of a cashless and checkless society?,Electronic banking,It has radically changed the way customers can do banking. Before e-banking, checking an account balance required the customer to either go to customer service or the teller. Now there are many methods available. ATM ha

3、s become an essential part of our lives, because it allows us to check balances, deposit, withdraw and transfer money. Telephone banking allows customers to perform electronic funds transfer transactions (also known as EFT), check balances and pay bills.,Mobile banking has nearly the same functional

4、ity as telephone banking, except that information is relayed by Short Message Service or SMS, however, paying bills by mobile banking isnt practical. Internet banking on the other hand gives access to a broader range of services. These services include changing account details like address, and pass

5、word, EFT, arranging bill payments or direct debits, and performing account inquiries.,accounts 帐户,Customers generally visit a bank for two reasons. The first is to borrow money to purchase an item, which might cost more than their monthly income. The second is to deposit their money in the bank for

6、 safe- keeping. This money is kept in a bank account, and as compensation for the use of the customers money the bank pays interest to the customer. There are many types of customer banking accounts. The most common are savings accounts（储蓄账户）, time or term deposit accounts（定期存款账户）, foreign currency

7、accounts（外汇账户）, cash management accounts（现金管理账户）, money market accounts（货币市场账户）and checking accounts（支票账户）.,The level of interest available on these accounts depends on the whether the funds are available on demand (also referred to as at call deposits), the currency the account is denominated in an

8、d the source of end investment used by the bank. Usually the higher the interest rate, the less access the customer has to their money.,fixed deposit 定期存款,also referred to as a time deposit, term deposit （期限存款） or Certificate of Deposit (CD) （定期存单）, is a kind of savings deposit with a definite lengt

9、h of maturity. The principal or original investment （本金或初始投资金） amount is placed into a savings account and earns interest at a pre-determined rate. Generally, time deposits offer investment maturity terms from 3 months to 5 years where longer terms earn higher rates. Time deposits offer higher rates

10、 of return than most comparable investments because the invested money is “tied up” until the maturity of the time deposit.,Money removed before maturity is subject to an early withdrawal penalty. Such withdrawals usually result in interest being calculated at the current or at-call deposit rate （活期

11、利息）. Time deposits are low risk, low return investments and are generally available for a minimum investment amount of 50 RMB, without any upper limit. This type of deposit is suitable for customers who do not require access to their money for a certain period of time.,check 支票,a written order by an

12、 account holder to his bank to pay a certain sum of money to a payee. A check is not legal tender. Checks have been used in various forms for the past 200 years, and each day throughout the world there are approximately 12 million checks written. Checks come in 3 forms: bank, company and personal ch

13、ecks. A bank check is the most accepted as it carries the least risk because bank checks are written orders directing a bank to pay money. A personal check on the other hand carries the highest risk, as it will only be paid if the customers account has sufficient funds to cover the specified amount

14、of the check.,Credit cards 信用卡,usually issued by banks, are granted to persons for borrowing money, or buying products and services, but allowing delayed payment. Put simply, credit cards are buy now, pay later. Some of the more widely known card names include MasterCard, Visa, American Express, and

15、 Great Wall. Credit cards are not to be confused with charge cards, such as department store cards, which require full payment of the balance before the end of the billing period. It is not a line of credit and no interest is charged. It has been estimated that there are approximately 500 million cr

16、edit cards in use worldwide, which confirms the popularity of this form of consumer credit.,Questions of the text,Do you think that money will no longer exist? What is EFTS? How many parts does it have? What are they? Whats the exact function of teller machines? How does the point-of-sale system wor

17、k? In what aspect is the system of automated clearinghouses especially used?,EFTS: Electronic Funds Transfer System 电子资金转帐系统,Any system that moves funds from one institution to another, by means of electronic signals transmitted by wire, rather than the physical exchange of some other medium such as paper checks.,Words & Phrases,Checking account balance 支票存款余额 EFTS: Electronic Funds Transfer System 电子资金转帐系统 teller machine/ customer bank communication terminal/ remote service unit 存取款柜员机 / 顾客银行通信终端 / 远程遥控现金收付机 A