Study On The Services Offered By Banks Finance Essay

Banks, frequently referred to as keepers of public money, are concerns that sell fiscal services, such as assorted types of loans, histories, certifications of sedimentation and recognition cards. Banks accept money from people for the intent of loaning or puting it at a net income subsequently on. Most of the activities performed by Bankss are derived from this definition. Additionally, Bankss are authorised to transport out certain activities which are of accessory nature with respect to the concern of accepting sedimentations and imparting money. The major banking activities comprise the followers:

Accepting sedimentations from the populace is one of the two major activities performed by Bankss.

In rule, money is deposited for safekeeping in Bankss. The deposited money is used to gain involvement from people who need money. A portion of the net income made in this manner is shared with depositors. The rate of involvement depends on the length of clip for which the money is deposited and on the easiness of backdown. The longer the period of sedimentation and the more terrible the limitations on backdown, the higher the involvement rate is. There are many types of sedimentation histories offered by Bankss.

Lending money to the populace is another activity performed by Bankss.

Lending money is the other of the two major activities carried out by any bank. The money deposited with Bankss is subsequently on Lent in order to gain involvement. Therefore, one could state that commercial Bankss act as mediators between people who have money to impart and those who need money for assorted intents. The term spread is used for the difference between the involvement paid on sedimentations and the involvement charged on loans.

( Paragraph No. 3 )

Money can be borrowed from Bankss in different signifiers and for different intents. The issue of security is of utmost importance with respect to Bankss ‘ loaning activity. Loans are extended against or in exchange of the ownership of assorted types of touchable assets, for illustration, trade goods, existent estate, autos, etc. Loans can besides be extended based on one ‘s personal worth. i.e. the difference between the amount of what one owns ( one ‘s accrued assets ) and the sum one owes to others ( one ‘s liabilities ) .

( Paragraph No. 4 )

Transfering money from one topographic point to another, referred to as remittal, is another banking activity.

Apart from accepting sedimentations and imparting money, Bankss can besides reassign money on behalf of their clients. The activity of reassigning money from one bank history to another is by and large known as remittal. Demand bill of exchanges, banker ‘s checks or money orders are issued by Bankss with respect to reassigning money. There is besides a installation of speedy money transportation, which is known as ‘telegraphic transportation ‘ or ‘telephone hard currency order ‘ . In return for holding this service rendered clients pay a certain pre-determined amount which is called committee or service charge. The sum varies from bank to bank but in general the faster the method of transportation the higher the charge is.

( Paragraph No. 5 )

Acting as legal guardians is still another activity that Bankss can execute.

A trust is a legal agreement where some belongings is transferred by the Godhead of the trust – the grantor – to a legal guardian to keep and pull off for the benefit of another entity – the beneficiary – under fiducial relationship. A legal guardian can be either an person or an establishment, such as a bank, for illustration, that has expertness in fiscal affairs. The footings and conditions of the trust are regulated in authorship by a papers drawn up by the grantor. Among other things the trust is supposed to understate estate revenue enhancements, command the distribution of assets or maintain one ‘s personal businesss private. Banks seem to be the natural pick in this regard.

( Paragraph No. 6 )

Keeping valuables in safe detention is another activity performed by Bankss.

Banks provide security to money and valuables deposited by the general populace. Security of money is provided through assorted types of sedimentation strategies offered, whereas security of valuables is guaranteed through doing secured infinite available for storage of valuables. The infinites are provided in the signifier of cabinets. They are little compartments with dual-key locking mechanism, built into strong and burglar-proof closets. They are stored in the bank vault. They are to the full unafraid since they can non be opened by the boss or the bank separately. Both have to utilize their ain several keys to open the cabinet. The client is normally requested to lodge some sum of money before a cabinet is made available.

( Paragraph No. 7 )

Roll uping money is yet another activity that Bankss perform.

Apart from accepting sedimentations and reassigning money from one topographic point to another, Bankss besides deal with roll uping their clients ‘ money from other topographic points. If a client has received some payment by check, so the client can lodge the check with his or her bank and petition that the sum be collected. The bank collects the sum for a little fee.

( Paragraph No. 8 )

Other banking activities non mentioned earlier include the followers:

– purchasing and selling foreign exchange on behalf of clients – which Bankss charge fees or committees for,

– issue bank warrants – which are warrants of one ‘s contractual duties in regard of foreign spouses with respect to bringing, payment for goods, return of progress, etc. ,

– gap letters of recognition – which are used in international minutess to guarantee that payment will be received,

– issue travellers ‘ checks – which constitute an alternate to hard currency, make international travel much more convenient and unafraid, work out the job of holding to interchange money abroad,

It should be noted that among all the classs of banking activities, the commercial banking activities are the most of import activities in the finance industry.

( Paragraph No. 9 )

custodian – powiernik

certification of sedimentation ( Cadmium ) – certyfikat depozytowy

at a net income – omega zyskiem

derive from – pochodziA‡ ( od czegoA› ) , wynikaA‡ ( z czegoA› )

safekeeping – ochrona, przechowywanie

to gain involvement – przynosiA‡ odsetki

backdown – podjA™cie ( pieniA™dzy ) , wypA‚ata

easiness – A‚atwoA›A‡

intermediary – poA›rednik

in exchange of – tungsten zamian za

ownership – wA‚asnoA›A‡ , prawo wA‚asnoA›ci

assets – aktywa

liabilities – pasywa

remittal – przelew, przekaz pieniA™A?ny

demand bill of exchange – trata pA‚atna za okazaniem

banker ‘s check – czek bankierski

money order – przekaz pieniA™A?ny

telegraphic transportation – przelew telegraficzny

telephone hard currency order – telefoniczny przekaz gotowkowy

committee – prowizja

service charge – opA‚ata za obsA‚ugA™

trust – zarzA…d powierniczy

legal guardian – powiernik, zarzA…dca

grantor – darczyA„ca

beneficiary – beneficjent

fiducial – powierniczy, powiernik

fiducial relationship – stosunek oparty na zaufaniu, stosunek powierniczy

expertness – wiedza specjalistyczna ( fachowa )

valuables – kosztownoA›ci

safe detention – bezpieczne przechowywanie

sedimentation schemes – systemy depozytowe

cabinets – skrytki

compartments – schowki

dual-key lockup mechanism – dwukluczowy mechanizm zamykajA…cy

burglar cogent evidence – odporny na wA‚amanie

bank vault – skarbiec bankowy

on behalf of – tungsten imieniu

bank warrant – gwarancja bankowa

missive of recognition – akredytywa

traveller ‘s check – czek podroA?ny

— — — — —

I. Answer the undermentioned inquiries?

In a nutshell, what is a bank? ( Paragraph No. 1 )

What does the service of accepting sedimentations consist in? ( Paragraph No. 2 )

What does the service of imparting money consist in and how is it secured? ( Paragraph No. 3 & A ; 4 )

How and in what signifier does the service of reassigning money work? ( Paragraph No. 5 )

What is the thought behind the establishment of trust? ( Paragraph No. 6 )

How does the banking service of maintaining valuables in safe detention work? ( Paragraph No. 7 )

What does the service of roll uping money consist in? ( Paragraph No. 8 )

What are the other minor services performed by Bankss? ( Paragraph No. 9 )

II. Fill in the missing prepositions:

The foundation has been roll uping money ___ the intent of turn toing the immediate demands of the victims of the recent temblor in Mexico.

If you do n’t sell these merchandises ___ a net income, your company will endure a immense loss.

All the activities carried ___ by our company are aimed at procuring the Internet banking minutess in Poland.

What does the involvement rate depend ___ ?

The contract is to be drawn up based ___ what has been agreed between both parties.

Apart _____ traditional banking services, most Bankss offer free e-banking services.

You can non subscribe any paperss on behalf ___ the company without the power of lawyer.

Payment ___ goods can be made by the methods specified in our web site.

III. Fill in the missing words:

involvement traveller ‘s cheque bank vault backdown committee

intermediary expertness liabilities ownership missive of recognition

_______________ is a papers that a bank issues on behalf of a client in order to vouch a certain payment to another party if specific conditions are met.

A _______________ maps as hard currency but is protected against loss or larceny. It is particularly utile in those topographic points where non all recognition and debit cards are accepted.

A _______________ is a specially constructed fireproof room, frequently made of reinforced-concrete and steel, designed for guardianship of valuables.

Our employees ‘ ______________ and experience warrant superior client service.

Our gross revenues force is merely paid a ________________ for successful gross revenues.

An person or a steadfast playing as a go-between or a nexus between two other parties in order to ease some sort of trade is referred to as an _______________ .

The bank allows premature _______________ of sedimentations but no involvement is paid if sedimentations are withdrawn before the completion of one twelvemonth.

Our commissariats for _______________ screen all foreseeable hazards and duties in an appropriate sum.

After a series of amalgamations the company ‘s ______________ construction is non precisely crystal clear.

As it is a time-deposit history, it bears _____________ based on the continuance of the sedimentation.

IV. Decide whether the undermentioned statements are true or false:

Banks accept money from people for the intent of doing a net income. ( Paragraph No. 1 )

Money is deposited merely for the intent of safekeeping. ( Paragraph No. 2 )

The whole of the involvement earned on money Lent to people is kept by the bank. ( Paragraph No. 2 )

The rate of involvement is reciprocally relative to the length of the period of sedimentation. ( Paragraph No. 2 )

Loans are extended to everyone who needs money. ( Paragraph No. 4 )

A committee is paid for holding the service of money transportation rendered. ( Paragraph No. 5 )

Banks are the lone establishments that can move as legal guardians. ( Paragraph No. 6 )

A bank vault is a unafraid topographic point designed entirely for hive awaying clients ‘ money. ( Paragraph No. 7 )

Travelers ‘ checks are supposed to do bank clients ‘ life much more convenient and unafraid as they function as an alternate to hard currency. ( Paragraph No. 9 )

V. Translate the undermentioned sentences into English:

Banki to instytucje zaufania publicznego, czA™sto okreA›lane mianem straA?nikow publicznych pieniA™dzy.

Zasady funkcjonowania lokat terminowych przyjmowanych Doctor of Optometry podmiotow finansowych reguluje niniejszy regulamin.

Aby poprawiA‡ swA… pA‚ynnoA›A‡ finansowA… banki nadal muszA… oferowaA‡ wysokie oprocentowanie lokat.

NieruchomoA›ci sA… bardzo dobrym zabezpieczeniem poA?yczek ze wzglA™du na swA… trwaA‚oA›A‡ tungsten miejscu jackfruit I czasie oraz wysokA… cenA™ .

W niektorych paA„stwach czA‚onkowskich Unii Europejskiej przelewy bankowe tungsten Euro sA… bezpA‚atne.

Wszystkie aktywa I pasywa takiej firmy powinny byA‡ uwzglA™dnione tungsten postA™powaniu likwidacyjnym.

Akredytywa jest tradycyjnA… formA… rozliczeA„ I jest stosowana zarowno w rozliczeniach krajowych jackfruit I zagranicznych.

UsA‚ugi tungsten zakresie pA‚acenia rachunkow stanowiA… formA™ przekazu pieniA™A?nego.

Gwarancja bankowa stanowi instrument zabezpieczajA…cy, ktorego celem joke podniesienie bezpieczeA„stwa transakcji I ograniczenie ryzyka niewywiA…zania siA™ ze zobowiA…zaA„ kontraktowych przez partnera handlowego.

Bank powiernik musi byA‡ wA‚aA›ciwie umocowany aby dziaA‚aA‡ w imieniu I na rzecz swego klienta.

VI. Find words in the text which match the definitions listed below:

A preprinted, fixed-amount payment papers designed so as to let the individual subscribing it to do an unconditioned payment to person else since the issuer has been paid earlier for doing it possible. It is used chiefly for the intent of supplying foreign currency to tourers and it can be used as a mean of payment for goods and services, merely like hard currency and recognition cards. It can be issued in local or foreign currency of different denomination.

A papers issued largely by a fiscal establishment to be used in trade finance. It functions as a warrant that the payment for goods will be transferred to the marketer on clip and for the right sum.

A fee charged by or allowed to an agent, a gross revenues representative or a agent for services rendered based on a per centum of the sale made by him / her, as distinguished from regular payments of salary.

An sum of money that a concern entity owes to an person or to another concern entity and has to pay it off under either short-run or long-run agreements, such as, for illustration, revenue enhancement, debt, involvement.

Instruction manuals for the transportation and payment of a pre-specified sum of money, normally issued and collectible at a bank or station office. It allows the person named on the order to have the specified sum of hard currency upon demand. As it is required that the financess have to be prepaid for the sum shown on it, it is more sure than a personal cheque. It can be sent by mail or private messenger.

Taking back or off something that has been granted or possessed. The act of taking financess from an history, a topographic point of sedimentation or investing.

The storage of assets or other valuable points in a protected country, i.e. in a bank ‘s vault, free from injury, harm, loss or larceny, and their return upon the depositors ‘ petition.

A 3rd party, a individual or an establishment moving as a nexus between two trading parties, a channel for goods and services offered to a consumer by a provider.

A legal agreement under which fiducial control of some belongings is given to a individual or an establishment for the benefit of donees.

A fiscal mediator that accepts sedimentations and uses them for the intent of loaning activities. Its most of import function is to move an intermediary between investors and depositors and those who look for capital, such as persons or companies seeking a loan.

I. Answer the undermentioned inquiries?

A bank, frequently referred to as keepers of public money, is a concern that sells fiscal services, such as assorted types of loans, histories, certifications of sedimentation and recognition cards. It accepts money from people for the intent of loaning or puting it at a net income subsequently on.

Money is deposited for safekeeping in Bankss. The deposited money is used to gain involvement from people who need money. A portion of the net income made in this manner is shared with depositors. The rate of involvement depends on the length of clip for which the money is deposited and on the easiness of backdown. The longer the period of sedimentation and the more terrible the limitations on backdown, the higher the involvement rate is.

Lending money is the other of the two major activities carried out by any bank. The money deposited with Bankss is subsequently on Lent in order to gain involvement. Therefore, one could state that commercial Bankss act as mediators between people who have money to impart and those who need money for assorted intents. The term spread is used for the difference between the involvement paid on sedimentations and the involvement charged on loans. Money can be borrowed from Bankss in different signifiers and for different intents. The issue of security is of utmost importance with respect to Bankss ‘ loaning activity. Loans are extended against or in exchange of the ownership of assorted types of touchable assets, for illustration, trade goods, existent estate, autos, etc. Loans can besides be extended based on one ‘s personal worth. i.e. the difference between the amount of what one owns ( one ‘s accrued assets ) and the sum one owes to others ( one ‘s liabilities ) .

Apart from accepting sedimentations and imparting money, Bankss can besides reassign money on behalf of their clients. The activity of reassigning money from one bank history to anothe is by and large known as remittal. Demand bill of exchanges, banker ‘s checks or money orders are issued by Bankss with respect to reassigning money. There is besides a installation of speedy money transportation, which is known as ‘telegraphic transportation ‘ or ‘telephone hard currency order ‘ . In return for holding this service rendered clients pay a certain pre-determined amount which is called committee or service charge. The sum varies from bank to bank but in general the faster the method of transportation the higher the charge is.

A trust is a legal agreement where some belongings is transferred by the Godhead of the trust – the grantor – to a legal guardian to keep and pull off for the benefit of another entity – the beneficiary – under fiducial relationship. A legal guardian can be either an person or an establishment, such as a bank, for illustration, that has expertness in fiscal affairs. The footings and conditions of the trust are regulated in authorship by a papers drawn up by the grantor. Among other things the trust is supposed to understate estate revenue enhancements, command the distribution of assets or maintain one ‘s personal businesss private. Banks seem to be the natural pick in this regard.

Banks provide security to money and valuables deposited by the general populace. Security of money is provided through assorted types of sedimentation strategies offered, whereas security of valuables is guaranteed through doing secured infinite available for storage of valuables. The infinites are provided in the signifier of cabinets. They are little compartments with dual-key locking mechanism, built into strong and burglar-proof closets. They are stored in the bank vault. They are to the full unafraid since they can non be opened by the boss or the bank separately. Both have to utilize their ain several keys to open the cabinet. The client is normally requested to lodge some sum of money before a cabinet is made available.

Apart from accepting sedimentations and reassigning money from one topographic point to another, Bankss besides deal with roll uping their clients ‘ money from other topographic points. If a client has received some payment by check, so the client can lodge the check with his or her bank and petition that the sum be collected. The bank collects the sum for a little fee.

Other banking activities include the followers:

– purchasing and selling foreign exchange on behalf of clients – which Bankss charge fees or committees for,

– issue bank warrants – which are warrants of one ‘s contractual duties in regard of foreign spouses with respect to bringing, payment for goods, return of progress, etc. ,

– gap letters of recognition – which are used in international minutess to guarantee that payment will be received,

– issue travellers ‘ checks – which constitute an alternate to hard currency, make international travel much more convenient and unafraid, work out the job of holding to interchange money abroad,

II. Fill in the missing prepositions:

for

at

out

on

on

from

of

for

III. Fill in the missing words:

missive of recognition

traveller ‘s check

bank vault

expertness

committee

intermediary

backdown

liabilities

ownership

involvement

IV. Decide whether the undermentioned statements are true or false:

True

False ( The deposited money is besides used to gain involvement from people who need money )

False ( A portion of the net income made in this manner is shared with depositors )

False ( The longer the period of sedimentation and the more terrible the limitations on backdown, the higher the involvement rate is )

False ( Loans are extended against or in exchange of the ownership of assorted types of touchable assets, for illustration, trade goods, existent estate, autos, etc. Loans can besides be extended based on one ‘s personal worth. i.e. the difference between the amount of what one owns ( one ‘s accrued assets ) and the sum one owes to others ( one ‘s liabilities )

True

False ( A legal guardian can be either an person or an establishment, such as a bank, for illustration, that has expertness in fiscal affairs )

False ( Banks provide security to money and valuables deposited by the general populace. Security of valuables is guaranteed through doing secured infinite available for storage of valuables. They are stored in the bank vault. )

True

V. Translate the undermentioned sentences into English:

Banks are establishments of public trust, frequently referred to as keepers of public money.

The rules of operation of clip sedimentations accepted from fiscal entities are regulated by these ordinances.

In order to better their fiscal liquidness, Bankss still must offer high involvement rate on sedimentations.

Real estates constitute really good collateral for loans due to their lastingness in topographic point and in clip, every bit good as their high monetary value.

In some Member States of the European Union, Euro money transportations are free.

All the assets and liabilities of such a company should be taken into consideration in settlement ( winding-up ) proceedings.

A missive of recognition is a traditional signifier of colonies and it is applied both in domestic and foreign colonies.

Bill-paying services constitute a signifier of money order.

A bank warrant constitutes a fudging instrument that is aimed at increasing the security of minutess and cut downing the hazard of a concern spouse ‘s ( trading spouse ‘s ) failure to dispatch contractual duties.

A legal guardian bank has to be punctually authorised to move on behalf and for the benefit of its client.

VI. Find words in the text which match the definitions listed below:

traveller ‘s check

missive of recognition

committee

liability

money order

backdown

safekeeping

intermediary

trust

bank