Personal banking

You are going to read to a conversation between a young Chinese businessmen and his English
language teacher. Wu Chao is about to leave for the conference to San Francisco and Mike
Millard is Canadian, but is now based in China.
Discuss what advice you think Mike will give Wu Chao on t topics about doing business with
Americans.

speed of negotiation
sensitivity to cultural differences
individual initiative and achievement
making decisions
periods of silence in meetings
social formalities

Read the dialogue. Complete the sentences.

1 I know I______be prepared for things to be very different.

2 You_____expect the way of doing business to be the same.
1 I know I____be prepared for things to be very different.
2 You_________expect the way of doing business to be the same.
3 You_______remember that American business culture is largely
individualistic.
4 You___________think clearly and quickly when you're doing business.
5 You______worry. In American business culture, they stick to the ru
6 You______ spend a long time on social formalities.

Read to the second part of the conversation. What advice or information does Mike give
Wu Chao about
1 general conversation topics?
2 asking personal questions?
3 if you don't understand what someone is saying to you?
4 being on time?

Complete the sentences.

1 You___ask about a person's job in general terms.

2 You___ask a person how old they are.
3 You___ask a few questions about her husband and children.
4 You-find you don't understand everything people are saying.
5 You-stop the person you're talking to and ask for clarification.
6 You___be invited for a round of golf.
7 You__practise your golf before you go.

Write the modal verbs from 5 and 7 next to the appropriate meaning.
1 it's necessary/obligatory____
2 it's not necessary/obligatory___
3 it's necessary/obligatory not to do it.__________
4 it's possible___
5 it's permitted___
6 it's advisable___
7 it's not advisable___

VOCABULARY FILE

Personal banking
Match the words or phrases in A with the definitions in B.

A B
1 assets a Money you borrow from a bank to buy a house.
2 ATM b Money you don't spend and earn interest on.
3 stock market c The value of a company; how much it is worth.
4 savings d A bank account for everyday transactions, usually with
little or no interest.
5 branch e The place where shares in companies are bought and sold.
6 bank balance f Automatic teller machine (for cash withdrawals).
7 current account g A local bank office.
8 mortgage h The status of your bank account; how much money it contains

Read the article and check your answers

One-man bank
The Raiffeisenbank in Gammesfeld, Germany, only has l5m in assets. Mr Vogt is the only
employee. There are no automatic teller machines (ATMs), in fact no computers at all. The 600
customers cannot invest in the stock market over the bank's counter. Although they have plastic
cards, they must pay a fee if they withdraw cash from machines at other banks. Still, there are
many benefits. The Raiffeisenbank pays a generous 3.0% interest on savings and it charges just
4.0% for mortgages and 5.0% for other loans.
Until recently, the trend was to automate everything. Branches were out of fashion, because
people and buildings were too expensive. But now branches are becoming more popular again.
Telephones and computers are fine for checking bank balances or making payments. However,
most people prefer to discuss mortgages and investments face-to-face. In addition, banks these
days want potential customers to do more than open a new current account. They want them to
buy a whole portfolio of services. And people are much better at selling those kinds of financial
products and services than machines!

Complete the sentences with a preposition. Check your answers with the examples in the
text.

for at on from to
1 People are normally better_____selling new products than machines.
2 I prefer to withdraw money_____my account using an ATM.
3 Most people prefer to have face______face contact with their bank.
4 Some banks charge you_____using another bank's ATM.
5 We pay 2% interest_____large investments.

Work in groups. Discuss which of the following opinions is closest to your own attitude to
money.
1 'I spend money on the important things: family, house, car, health.'
2 'I buy what I want. You only live once.'
3 'I use money to buy time - to travel, have fun with friends, and see-interesting things.'

must/mustn't/needn't
This extract is from Etiquette International, a guide for Americans abroad on business. Read it
quickly and decide whether it is about: a France_, b Japan-, c Norway_, or d Turkey__Then
complete it using must, mustn't, or needn't.

There are no clear rules, so you ________ 1 worry about card etiquette too much. However, it is
still a good idea to offer them. As
most people speak good English, you_______2 prepare special
cards in both languages.

When you are introduced to someone, you _____ 3 be sure to stand up before you shake hands.
At a first meeting, you _______4 use the formal titles Herr, Fru, or Froken. After that,
local colleagues will probably soon tell you that you_______5 use anything more than the
person's last name - without even a title.

There is real equality between the sexes here, and women are very independent. Therefore, when
you meet a married woman, you ______6 automatically call her by her husband's name. When
you are introduced, you ______7 listen carefully for her last name. This is the name she uses, and
it is likely to be her birth name.

must / mustn't/should / shouldn't

This extract is also from Etiquette International. Read it quickly and decide whether it is about: a
France______, b Japan_______, c Norway_______, or d Turkey ______ Then complete it using
should I shouldn't for something that is important, and must I mustn't for something that is very
important.

People like to dress well, but rather conservatively, and you are advised to do the same. Men
_______ 1 therefore wear a good-quality traditional business suit and tie. For social and religious
reasons, women______ 2 be very careful about their clothing. This is very important.
Skirts_______3 show very little of the leg, and tops ______4 show the upper arm.

Some people drink alcohol, but most do not. When you eat at a restaurant with a local colleague,
the best advice is that you _______5 follow his example or suggestion. A male
colleague may invite you to eat at home with his family. If this happens, small gifts are welcome.
You_________6 take flowers or good-quality chocolates for your hostess and, if
there are children, you_7 forget to take them some candy.

need to, needn't, mustn't

Read this final extract from Etiquette international and decide whether it is about: a France____,
b Japan _____, c Norway _____, or d Turkey ______Then complete it using need to, needn't or
mustn't.

Appearance is very important both for men and for women, and so you ______ 1 make a special
effort with both clothes and accessories. You ______2 forget even for one minute the simple fact
that people will measure your status and professional success largely by the way you look. There
is an unfair belief that foreigners - especially Americans - are disliked. Generally, you
simply______3 speak a little of the language and people will soon open up and be friendly.
You______. 4 chew gum in any kind of public situation. People feel that this is very bad
behavior and it will affect your image negatively.
You may hear your colleagues start a lively even heated - political discussion, but don't
worry. You _______5 feel you should try to change the subject because it is simply not
necessary: such discussion is just part of the culture, and people enjoy it. They are also likely to
ask you about events in America, and so you _______6 be up to date with the news back home.
You_7 be afraid to ask about local political events in return.

must / mustn't / have to / not have to

HydroGen is an American company that has worked on many hydroelectric schemes in the
western USA and Canada. The CEO, Carla Moro, is talking with Marketing Manager Alan
Fraine about his trip to HydroGen's new partners in Europe. Complete the dialogue. Use must,
mustn't, have to, and not have to.

CARLA It's your first European trip, isn't it? What have you organized?
ALAN Well, first, I ______ 1 fly to Paris on the 26th in order to be ready for a breakfast meeting
with Emile Leclerc early next morning. Emile says it _______2 be then as he's got meetings with
other people all day after that.
CARLA OK, but _______ he _______3 see all these other people on such an important day for
us? Anyway, the main thing is that you ________4 let him go until he signs the contract.
ALAN Don't worry - I'll make sure he does.
CARLA Good. Oh, and by the way, please give him my best wishes.
ALAN Yes, certainly. Anyway, after our meeting I _________5 do anything else, so I can go
straight to the airport.
CARLA Are you seeing the Norwegians next or the Turks?
ALAN I ________6 see the Norwegians next, and I can catch a flight to Oslo at 1.00.
CARLA But hold on, Alan. That means you'll arrive too late to work there that afternoon, so you
________7 rush away from beautiful Paris so fast. You should take a few hours to see a bit of it.
In fact, you _______8, and that's an order!
ALAN Fine. I'd like to do that.

Money and finance

Use words and phrases from the boxes to complete the dialogues. Methods of payment
bank to bank transfer cash cheque
credit card debit card traveller's cheques
Banking and insurance products and services
car insurance foreign currency home insurance
investment advice loan mortgage
online banking pension

1 A What's the quickest way of sending some money to my girlfriend in

Singapore?
B If you know her bank details, I'd suggest a ___________ transfer.
2 A Those chairs in the sale are great, but we've got no money this month.
B Well, let's pay for them with a________________________.
3 A How much_do you usually carry with you?
B About 80 - enough for day-to-day things like taxis.
4 A I'm doing something wrong. My savings should earn more interest.
B You need to get some good____________________________.
5 A I'm going abroad, and I need to take some money.
B Then you need that desk. They deal with_______________________.
6 A How would you like to take the money?
B I'll have $300 in 20-dollar notes, please, and the rest in dollar _. That makes the money a bit
more secure.
7 A So what's better about_than my old bank?
B Several things. For example, you can make payments at any time of the day or night.
8 A Did you get a bank_to pay for the car?
B Yes. And now I have to pay it off monthly over three years.

Combine words and phrases in box A and box B to make collocations.

Use them to complete the FAQs for new online banking customers.

A
access
check set up
apply
for download

balance overdraft standing order

bank account statement

1 Q Can anyone else access my bank account? A No, not if you keep your PIN number secure.
2 Q Is it possible to find out just how much I've got in my account?
A Yes, it just takes a moment to_______________your____________.
3 Q Can I see see all my payments in and out during the last month?
A Yes, you simply_your up-to-the-minute____________
4 Q I sometimes spend more than I earn. What's the answer?
A You can_ an _facility on your account in the traditional way.
5 Q How do I make automatic, regular payments - monthly bills, for example?
A If it's always the same amount, you need to___________________a
 DOTCOMS
Vocabulary:
Maternity leave-
To get in touch with- -
Skills , ,
Dot com - -
Fee-
Browse-
Exchange -
Arrange ,
Reunion - , ,
Keep on

Read to the interview with Julie Pankhurst, one of the founders of Friends
Reunited.

I = lnterviewer, JP = Julie Pankhurst

I Julie, when did you first get the idea for `Friends Reunited'?

JP Well, it really started in July 1999 when I was on maternity leave from work, and a lot of
the time before the baby was born I didn't actually have much to do. I started to look back
on my life. I thought about the friends I had at school, and I found myself wondering
where they were now. Did they have families of their own? Did they still live in the same
area? Were married, divorced, still alive?

I And you thought the Internet would be the ideal way to get in touch with old friends?

JP Yes, that's right. I was a programmer at the time so I had the skills. And it fitted in with my
husband Stephen's plans. He's a web designer and he and his partner Jason Porter wanted to
start a new company. So, the three of us set up Friends Reunited dot com.

I And how does it work? What do you have to do?

JP It's a very simple idea, really. You have to be a member. For a small registration fee,
members can put their details and messages on the site and then they can get in touch with
former school friends. You just look up the school, look up the year, and away you go! We
didn't want to make it difficult we wanted people who didn't use the Internet very much
to be interested as well.

I What sort of things do people do when they're online?

JP I think a lot of them just browse and find out what has happened to their old schoolmates.
But often they exchange memories, discuss old teachers, funny things that happened, and
so on. Lots of them arrange to meet and have real reunions.

I The idea grew quite fast, didn't it?

JP Very much so. After just three years, in 2002, we had seven million members and
45,000 schools and universities were registered.

I I know Friends Reunited has been one of the most successful dot com companies. But what
about future plans?

JP Well, we started in the UK, but since 2002 we've launched international sites in Australia,
South Africa, New Zealand, and many other countries in Europe and beyond. We've also
added over 400,000 workplaces to the system so that people can locate old work friends.
We just want to keep on expanding, but keep the idea simple.

I Julie, thank you for talking to us. That was Julie Pankhurst, founder of ...

Questions:

1. What was the reason for starting Friends Reunited?

2. Who is the founder of Friends Reunited?
3. What did Julie want to know about her school friends?
4. What was the ideal way to get in touch with old friends?
5. What was her job at that time?
6. What is her husbands job?
7. How does the web site work?
8. What sort of things do people do when they are online?
9. The business grew fast, didnt it?
10. What are the future plans?

Decide if the statements are true or false.

1. Julie Pankhurst got the idea of Friends Reunited when she was on leave from work.
2. She first got the idea for Friends Reunited in June 1999.
3. Julie Pankhurst and her husband did not have any internet skills.
4. The Friends Reunited service is free to online members.
5. The business has developed very quickly.
6. Friends Reunited operates only in the UK.
7. In 2002 the company had seventeen million members.
8. Friends Reunited has no international sites.
9. The service now includes workplaces as well as schools and universities.
10. The future ambition is to expand.

Check the answers.

1. True
2. False. She first got the idea for Friends Reunited in July 1999.
3. False. Julie Pankhurst and her husband had the necessary skills. Julie was a programmer
at that time and her husband is a web designer.
4. False. You can become a member for a small registration fee.
5. True
6. False. Since 2002 they have launched international sites in Australia, South Africa, New
Zealand, and many other countries in Europe and beyond.
7. False. In 2002 the company had 7 million members.
8. False. The company has lots of international sites.
9. True
10. True

Read the interview with Julie Pankhurst and complete the sentences with a
proper word.

1. I was a programmer at the time so I had the .

2. Julies husband and his partner wanted to a new company.
3. So, the three of them Friends Reunited dot com.
4. For a small registration, members can put their details and messages on the site.
5. People often exchange memories, discuss old teachers, and to meet.
6. Friends Reunited has been one of the most dotcom companies.
7. They have launched international sites in Australia, South Africa, New Zealand, and
many countries in Europe and .
8. They just want to keep on .
9. After just three years, in 2002, they had seven million .
10. The internet was the ideal place to with old friends.
Check your answers.
1. I was a programmer at the time so I had the skills.
2. Julies husband and his partner wanted to start a new company.
3. So, the three of them set up Friends Reunited dot com.
4. For a small registration fee, members can put their details and messages on the site.
5. People often exchange memories, discuss old teachers, and arrange to meet.
6. Friends Reunited has been one of the most successful dotcom companies.
7. They have launched international sites in Australia, South Africa, New Zealand, and
many countries in Europe and beyond.
8. They just want to keep on expanding.
9. After just three years, in 2002, they had seven million members.
10. The internet was the ideal place to get in touch with old friends.

Choose the correct word.

Retail sales: the online effect

In the 1990s, online shopping started having a real effect/affect. Some people
believed that it meant/meaned disaster for traditional shops and
disemployment/unemployment for millions of traditional sales staff/staffs . It is certainly true
that the Internet is dramatically/dramaticly changing the world in many ways including the
way we do businesses/business with each other. However, people are bad at seeing the future,
and reality is turning out/up to be very different from/as early expectations. With their skilful
move into online shopping, traditional retailors/retailers like Wal-Mart are in fact seeing
expansion/expantion in both customers and profits.

Check your answers.

In the 1990s, online shopping started having a real effect. Some people believed that
it meant disaster for traditional shops and unemployment for millions of traditional sales
staff. It is certainly true that the Internet is dramatically changing the world in many ways
including the way we do business with each other. However, people are bad at seeing the future,
and reality is turning out to be very different from early expectations. With their skilful move
into online shopping, traditional retailers like Wal-Mart are in fact seeing expansion in both
customers and profits.
 Underline the best form of the verbs in italics.

Interviewer: What 1 are working/do you work on at the moment?

Benedikte: 2 Im working/work on my presentations. 3 I was bringing/ brought with me some
articles about my job, and 4 I work/m working on those articles.

Mohammad: I think English 5 will continue/is continuing to be a very popular and very
important language, for business and for tourists.

Benedikte: Today we 6 ve worked / work on tenses, the future tense. Yesterday we7 ve
worked/ worked on the past, and Monday, on the present tenses.

Katja: I 8 have studied/ has studied English before I came to work in Britain, but my level of
English 9 has been /was very bad.

Benedikte: When you 10 arrived/were arriving, we were having grammar lessons.

Match 1-5 to a-e to make sentences.

1. English is often used as a common..

2. My Spanish really improved after a week-long total.
3. Senior managers do a one-month intensive training
4. He speaks fluent French, but his mother
5. Im following a German self- .
a. study programme in my spare time.
b. a tongue is Arabic.
c. programme in London.
d. language in multinational companies.
e. immersion cources, because I had to speak Spanish all the time.