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Complete each sentence with a word from the list:
bank fees collateral deposit exchange fixed-term interest loans money rate transfer withdraw
1. Banks provide a secure place in which you can keep your
2. An easy way to keep money in a bank is to open a savings account and then
your money into the account.
2. If you keep money in a bank account, you'll receive regular payments from the bank called
3. The amount of interest you receive depends on your bank's interest
4. Interest rates are usually higher if make a
deposit, with rates increasing as the periods get longer.
5. If you make a 12-month fixed-term deposit, you cannot
the money for at least 12 months.
6. Another function of banks is to provide
to people, companies and other organisations.
7. Banks that loan money usually require
, meaning an asset the bank will take if the loan is not repaid in time.
8. You can have money moved from your bank account into someone else's bank account by asking your bank to
9. Many banks also provide a currency
service that lets you give them funds in one currency and receive the equivalent amount in another currency.
10. Banks make profits by investing the money that's deposited into their accounts, and by charging
for many of the services they offer.
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