TRUSTEE SAVINGS BANKS.

Unit1

The deposit banks.

The major deposit banks are Barclays, Lloyds, Midland, National Westminster and William and Glyn’s and, in Scotland Clydesdale bank and the Royal Bank of Scotland . their primary business is the receipt, transfer and encashment of deposits, together with the provision of overdrafts. Customers may deposit money in two main types of account, current accounts and deposit accounts. Although no interest is paid on current accounts, withdrawals may be made on demand and amount transferred by cheque. Interest is paid on deposit accounts but seven day’s notice is required for withdrawal. Bank profits arise from the difference between the interest earned from lending and the costs incurred including the interest paid to depositors.

The deposit banks provide full banking services throughout Britain and operate through some 14,000 branches (3,200), followed by Barclay’s (3000), Midland (2,500), and Lloyds (2,400). The banks are involved in international banking activities and are now important lenders for house purchase. They have also acquired substantial interests in finance houses and leasing agencies and some have set up their own unit trusts and merchant banks.

Unit 2

NATIONAL GIROBANK.

The National Girobank was introduced in 1968 to provide a low-cost current account banking and money transfer service. It operates through more than 20,000 post offices in Britain. All accounts and transactions are maintained by means of a computer at Bootle, Merseyside.

The range of banking services provided by Girobank includes current accounts, personal loans, a cheque guaranty card limited overdrawing for personal customers and overdrafts for corporate customers, deposit accounts, budget accounts, bridging loans, travelers cheque and foreign currency, bureaux de change and postcheques for drawing cash at posts offices in 28 overseas countries.

Unit 3

TRUSTEE SAVINGS BANKS.

The Trustee Saving Banks, most of which were founded in the 19th century, operate under their won trustees, but are subject under legislation to the supervision of the Trustee Savings Banks Central Board and the Treasury. TSBs are empowered to provide a full range of banking services including cheque accounts and credit services. A pass book account can be opened with as little as 1$. Interest is paid on seven-day and one-month deposits and a higher rate on larger sums deposited for periods up to five years. Credit services include personal loans, overdrafts, and mortgages. The TSBs have their own credit card, Trustcard, which operates within the VISA system, and TSB. Trust Company provides a wide range of life assurance and unit trust facilities.

The TSBs have also began to lend to smaller companies in the form of their loans.

Notes.

Overdraft овердрафт, сумма, получаемая по чеку сверх остатка на текущем счете; превышение кредита; задолженность банку.

Pass book account сберсчет с выдачей книжки.

Unit 4