Hello, English learners. Welcome back to another great lesson with EnglishPod.
My name is Marco. And I'm Erica. And today we're bringing you another great lesson about being at the bank.
That's right. We've got an intermediate lesson for you today with lots of great language to help you open a bank account.
Okay, so let's look at our vocabulary preview today.
Two words today. The first one is checking accounts.
A checking account. Checking accounts. So what is a checking account?
Well, it's a type of bank account that lets you do your day to day or daily banking.
So it's the normal bank account that you use to go shopping, that you use to pay your bills.
Yep, exactly. The opposite, and our second word is...
Savings account. Savings account. Savings account.
So a savings account is to? It's a bank account where you save your money.
So save money, right? So usually you don't touch the money in this account.
Yeah, usually it stays in there. Right.
So usually banks will have these two types of accounts.
Yes. Checking and savings. Okay, great.
Let's listen to our dialogue a first time now.
Right. Well, today we're at a bank and we're going to listen as a man is opening a bank account.
The dialogue is going to be spoken at a normal speed, so it might be a little bit fast.
Yeah. But don't worry about it because we'll come back and explain everything.
Yes. Next please. May I help you sir? Hello, yes.
I'd like to open a bank account. Certainly.
I can help you with that. What type of account would you like to open?
A checking or a saving account? What features do they offer?
Well, if you just take a look here, see, with our checking account, you can have unlimited daily transactions for a small monthly fee. and our savings account has a higher interest rate, but you must carry a minimum balance of $10,000.
I see. Well, I think I'm more interested in a checking account.
I'd like to have easy access to my money.
Alright then, with this checking account you'll be issued a debit card and a checkbook.
Will you require overdraft protection? There is an extra fee for that.
No, that won't be necessary. In that case, I'll get you to fill out this paperwork.
I'll need your social insurance number and two pieces of government ID.
We'll be all set. Would you like to make a deposit today?
Yes, I'd like to deposit one billion dollars.
One billion dollars. all right one billion dollars that's a lot of money that's a weird laugh Okay, let's look at Language Takeaway today.
Today we've got four words for you in language takeaway all about money and banking.
Money and banking. The first one that we have today is...
Transaction Transaction Transaction Transaction So we have some great examples that will help you understand what a transaction is.
So let's listen. Example 1 I need a record of my most recent bank transactions.
There is no fee for bank transactions done online.
Example 3 Okay, we've deposited your money.
Would you like to make another transaction today?
So basically, I can understand that a transaction is moving money around in your bank accounts.
Right, it's taking money from your bank account and putting it in another account or just...
Taking it to spend whatever. Yes. That's a transaction.
Or even putting money into your bank account.
That's also a transaction. Great. Our second word, balance.
Balance. Balance. Balance. Your account balance is how much money you have.
Exactly. Right? An account balance. My account balance is $2 right now, I think.
That's a bit of a problem. Yes. Good thing payday is three days away.
Yeah, my God. OK, our third word, overdraft, overdraft, overdraft, overdraft.
So this really comes in handy, right? To overdraft, can you tell us a little bit about it?
Let's say in my bank account I have $500, but I spend $600.
Right. So I have an overdraft in my account, meaning I owe the bank $100.
Right. It's also commonly referred to as a negative balance.
That's right. Right. Negative balance. Like me.
Very soon I will have a negative balance.
Okay, I think this one is a little bit tricky to understand.
So let's listen to a couple of examples of how we use this word.
Example 1 The maximum overdraft on my account is only $5,000.
Example 2 I'm sorry, sir, but you've exceeded your maximum overdraft limit.
I cannot give you any more money. Example 3 Oh no, I have to pay $1500 in overdraft fees.
Okay, great examples. Now we can take a look at our last word.
Debit card. Debit card. Debit card. D-E-B-I-T.
Card. Debit card. So a debit card is issued by the bank.
Yes. Take money out of an ATM. From an ATM machine, right?
Right. A debit card. Not to be confused with a credit card.
Not the same thing. Okay. Okay, great. So now we could listen to our dialogue a second time at a slower speed.
So now we can hear all of the great language you just talked about.
Next, please. May I help you, sir? Hello, yes.
I'd like to open a bank account. Certainly.
I can help you with that. What type of account would you like to open?
A checking or a savings account? What features do they offer?
Well, if you just look here, With our checking account you can have unlimited daily transactions for a small monthly fee and our savings account has a higher interest rate, but you must carry a minimum balance of ten thousand dollars.
I see, well I think I'm more interested in a checking account.
I like to have easy access to my money. Alright then, with this checking account you'll be issued with a debit card and a cheque book.
Will you require overdraft protection? There is an extra fee for that.
No, that won't be necessary. In that case, I'll get you to fill out this paperwork.
I'll need your social insurance number and two pieces of government ID.
If you could just sign here and here. And here, we'll be all set.
Would you like to make a deposit today? Yes, I'd like to deposit one billion dollars.
We heard some interesting phrases of how to tell somebody to do something in a polite way.
Yes. So let's start with Fluency Builder and explain these words.
Fluency Builder The bank teller asked this man to do a number of things in order to open his bank account and she used some great expressions.
Right, let's listen to how she asked the man to do some things in a polite way.
Yes. I'll get you to fill out this paperwork.
I'll get you to fill out this paperwork.
I'll need your social insurance number I'll need your social insurance number if you could just sign here if you could just sign here So the first thing she said is, I'll get you to fill out this paperwork.
I'll get you to. Right. Right. I'll get you to.
So it's just a way of saying, can you please fill this out?
Yeah, do this. Do this, but in a different way, right?
More polite. It's pretty polite. Then she also said I'll need your social insurance number.
I'll need your. I'll need your. Again, a polite way of saying.
Give me your social insurance number. Give me your social insurance.
Yeah. And the last thing she said, and this is really polite, if you could just sign here.
If you could just wait a moment, I'll be with you.
If you could just send me an email with your bank account number.
Right. Very polite way of asking for something.
Yep. Well, some great language in today's cast.
Let's listen to the dialogue one last time and we'll catch all of this wonderful language. next please may help you sir hello yes I'd like to open a bank account certainly I can help you with that.
What type of account would you like to open?
A checking or a saving account? What features do they offer?
Well, if you just take a look here, see, with our checking account, you can have unlimited daily transactions for a small monthly fee. and our savings account has a higher interest rate, but you must carry a minimum balance of $10,000.
I see. Well, I think I'm more interested in a checking account.
I'd like to have easy access to my money.
Alright then, with this checking account you'll be issued a debit card and a checkbook.
Will you require overdraft protection? There is an extra fee for that.
No, that won't be necessary. In that case, I'll get you to fill out this paperwork.
I'll need your social insurance number and two pieces of government ID.
And here, we'll be all set. Would you like to make a deposit today?
Yes, I'd like to deposit one billion dollars!
Ha ha ha ha ha ha ha! One billion dollars.
Okay. So an interesting thing here, not many countries use checks.
That's right. Right. The checkbook or a check.
Yeah, it tends to be more of an American thing, don't you think?
It is. It is. I think it is. For those of you who aren't sure what a check is, it's basically a piece of paper that you just sign your name and... Yeah, you write the amount of money.
And then you sign your name, right? Right.
And then you give that to the person. That person can take it to the bank and get money in exchange for it.
Yes. It's not very common in other countries.
No, but from what I know, every single American has a checkbook and uses it pretty regularly.
Yeah, yeah. For example, you pay your... phone bill or electric bill, just put a check in the mailbox and it's done.
It's an interesting thing. Also, sometimes in other countries, people's salaries are paid through checks.
Paycheck. Oh, yes. I see where that word comes from.
Paycheck. But for example, here in China, it's not very common, right?
I've never seen a check here. Me neither.
What about in your countries? We'd like to know how the banking system works.
Yes, come to our website at EnglishPod.com and tell us all about it.
Yes. And you can also leave your questions and comments on our website and we'll be there to answer it.
Yeah. Marco and I love answering your questions.
So please visit us. Right. But until then, it's goodbye.
