S T U D Y PA G E S centre 19

Money

Ways of paying
You can pay for something
by/in cash by cheque (UK) by check (US) by credit card or debit card
Cash is money in the form of notes and coins, rather than cheques.
When you use a credit card, you arrange to pay at a later time.
With a debit card the money is taken from your bank account automatically.

Using a bank account

A current account (UK) /checking account (US) is a bank account which usually
earns little or no interest and which you can take money out of at any time. With a
savings/deposit account, you can earn interest on your money.
Interest is money charged by a bank to people who have borrowed from them, or the
money which you receive from a bank after you have left money with them for a
period of time.
You can take money out of your bank account by using a cash machine (UK)/ATM
(US). This is a machine in the wall of the bank or other building. You use a cash card
(UK)/ATM card (US) to take out the money.

Useful phrases
I’d like to pay this cheque into my account and take out £50 in cash.
You can withdraw (= take out) or deposit (= put in) money at any time using the
machines outside the bank.
Could you tell me the balance on (= how much money is in) my account?
(UK) I have an overdraft facility of £500 (= I can borrow up to £500)
I hate being overdrawn/in the red (= owing money to the bank).

Saying whether things are cheap or expensive

expensive Train travel in the UK is extortionate (= too high).
House prices in London can be prohibitive (= too expensive for people
to afford).
This car is proving to be very expensive to run.
The hotel was great but a little pricey.
That supermarket’s a bit dear.
The house is great and the rent is reasonable (= not too expensive).
The heating system is very economical (= cheap to run).
She offered me a fair price for my record collection.
I booked my holiday at the last moment, so it was dirt cheap (= it cost
very little money).
This coat was half-price, a real bargain.
The sunglasses are now available in major stores, a snip at £25 a
pair.
cheap Less than $30 for both of them? What a steal!