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Unit 8

EVERYDAY LIFE

CULTURAL POINTS

Americans are some of the biggest consumers in the world, and
stores provide a vast amount of choice. Although most Americans
can pay full price for things, they love bargains, sales, and
discount shopping.

BANKING

Most American banks are not part of national chains. They are
most likely owned and operated on a regional or state basis,
although a few big banks are present across the country. A current
account, or one that allows clients to write checks and withdraw
money through ATMs, is known as a checking account. A deposit
account is called a savings account. Banks offer a variety of
accounts with different conditions and rates of interest.

CHECKS

Americans use checks (cheques) frequently, but it is important
to remember that most businesses will not accept checks from
another state. Checks are printed with the account holder's name,
address, and telephone number, and two forms of ID are usually
required when paying by check - most likely a state driver's license
and a major credit card. Banks do not issue check guarantee cards.
In addition, bank clients must pay for checks, which are usually
ordered in boxes of about two hundred checks for approximately
$10 to $15.
Bank clients should avoid being overdrawn at all costs, as it
can be damaging to their credit rating and they will have to pay
heavy fines, both to the bank and to the business where the check
was written. Deliberately writing a bad check is considered a crime