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BUSINESS ENGLISH · BUSINESS ISSUES · PRE-INTERMEDIATE (A2-B1)

BANKING
AND MONEY

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1 Warm up

In pairs, discuss the following questions.

1. Do you deal with money in your job? What do you do?

2. Which bank do you use for your personal banking? What do you like about them? What do you
not like about them?

2 Focus on vocabulary

Part A: Understanding vocabulary. Match the vocabulary to the definitions.

1. access (v) a. a person who knows a lot about a particular subject who can
help people
2. adviser (n) b. the amount of money you have left after the costs have
been paid
3. branch (n) c. be able to get something

4. market (n) d. an amount of money you give for a product or a service

5. payment (n) e. the demand for a certain product or service

6. profit (n) f. a shop or an office which is one of many in a large company

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Part B: Pronunciation. Underline the stressed syllable in the words from Part A.

1. ac/cess

2. ad/vi/ser

3. mar/ket

4. pay/ment

5. pro/fit

Part C: Building vocabulary. Complete the gaps in the following sentences with a different part of
speech to the word in brackets from Part A. You may need to use a dictionary.

1. They make computers at the moment, but they are planning to into computer
games too. (branch)

2. The website is only if you have a special passcode. (access)

3. We think that our products are going to be very in Asia. (market)

4. When I first started, my boss gave me a lot of about working in the sales team
that was really useful. (adviser)

5. Our sales in the Middle East increased by a lot over the summer, so we have had a very
year. (profit)

6. My has increased almost 20% since I started at this company. (payment)

Now read the article about choosing a business bank account on page three and complete the gaps
with words from Part A.

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3 Reading for gist

Match the titles below to paragraphs A – C. You will not need all the titles. Then, listen to check your
answers.

1. Do your homework

2. What’s the profit?

3. Size matters

4. Free gifts

5. Check the cost

Business Banking
Choosing a business bank account

A. ___________

First of all, you should think about the size of the bank. Just because a bank is bigger, it doesn’t always mean it is
1 2
better. Large banks will, of course, have a lot more , and you will be easily able to
your money because they will have a lot more cash machines. However, smaller banks are more likely to know
3
the local better and be able to give you useful advice. It is possible to use an Internet bank,
but check what services they offer. As a new business, you may need a lot more personal support than they can
4
give you. For a lot of business people, it is helpful to be able to talk to an face to face. You may
not be able to do this with an Internet bank.

B. ___________

It’s important to be very clear what the charges from the banks are going to be. It may cost you money to set up
your account and if you are borrowing money from the bank, you need to understand what percentage you will
have to pay back each month and if this can change. The amount can be fixed, or it can change with the amount
5
of interest. How much you pay can be a lot and make a big difference to the you make each
month, so pay attention to this.

C. ___________

Talk to other business owners about which bank they use and what their experience was like. It’s very easy to
find reviews on the Internet these days, so use this to help you too. You should also find out what services the
bank offers. For example, you may need access to both a current account and a savings account. Does the bank
6
offer cheques? These can be useful for small businesses that may need to make large . You also
need to find out what kind of online banking is offered. It’s important to be able to quickly check your balance
wherever you are and be certain that you have enough money for your business needs.

Sources: Accion Opportunity Found, Financial Times

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4 Scanning for vocabulary

Find vocabulary in the article on page three which means the same as the following:

1. a place where you can access your money without going into the bank (n,
para. A)
2. an amount of money that you have to pay for a service (n, para. B)

3. start something that you plan to keep using (phr. v, para. B)

4. the amount of something expressed as a part of the whole, when the whole
is 100 (n, para. B)
5. not changing (adj., para. B)

6. the money you pay which is on top of the amount you borrow (n, para. B)

7. an official note from a bank you can use in the same way as money and write
how much it is worth on it (n, para. C)
8. the amount of money in your bank (n, para. C)

5 Reading comprehension

Read the following statements about the article on page three and decide if they are true (T) or false
(F).

1. Larger banks are always the best ones to use for a business.

2. The knowledge that local banks have of business in that area can be very helpful.

3. Business bank accounts are always free in big and small banks.

4. The amount of money you pay back on a bank loan may change or it may not.

5. People often give their opinion of banks online, so they aren’t difficult to find.

6. Savings accounts, online banking and cheques are all useful services for a business.

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6 First conditional
Look at the following information.

If you choose a big bank, it will have more cash machines.

If you choose a small bank, it may have better knowledge of local markets.

These sentences use the first conditional which we can use when we want to talk about choice and
what will happen.

To make the first conditional, you need:

If clause = If + present tense

Main clause = will/can/may/might/must + base form

Now complete the following sentences using the words in the box.

know / take / don’t / loan / can / check

1. If you a loan from a bank, you will pay interest.

2. If you pay back the quickly, it might cost you less money.

3. If you pay back the loan, you may get charged more money.

4. If you use online banking, you can your balance easily.

5. If you use a large bank, you access lots of cash machines.

6. If you use a local bank, they might about local markets.

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Now underline the mistake(s) in the following sentences and write the correct sentence underneath.

1. If you want to know about a bank, you can reading reviews online.

2. If you will choose fixed payments, the amount you pay don’t change.

3. If you using an Internet bank, you may not be able to talk to someone in person.

4. If you have cheques, you can safely made large payments.

5. If you can have a bank account, your money will be safe.

6. If you sold your products, the customer can pay into your bank account.

Now complete these sentences with your own ideas.

1. If I open a business bank account, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

2. If I take out a large loan, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3. If I use a large bank, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. If I use a local bank, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5. If I don’t make payments on time, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6. If the interest rate is high, . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

7 Talking point

In pairs, discuss the following questions.

1. How do you usually make payments to people and businesses?

2. If you don’t pay back a bank loan in your country, what will happen?
3. If you pay back a bank loan early in your country, what will happen?
4. What is important to you when deciding on a bank?
5. Have you ever changed banks? Why?

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BANKING AND MONEY

8 Extended activity/Homework

Write an email to a friend talking about your personal or business bank. Consider the following
questions:

1. When did you start using this bank?

2. What do you like about the bank?
3. Have you had any problems with them?
4. What services of theirs do you use most?
5. What is the interest rate like?
6. Have they been helpful if something went wrong?

You should:

• Write at least 150 words.

• Check your grammar, spelling and punctuation.

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

....................................................................................................

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BANKING AND MONEY

Transcripts

3. Reading for gist

Narrator: Business Banking. Choosing a business bank account

Narrator: Size matters

Narrator: First of all, you should think about the size of the bank. Just because a bank is bigger, it
doesn’t always mean it is better. Large banks will, of course, have a lot more branches,
and you will be easily able to access your money because they will have a lot more cash
machines. However, smaller banks are more likely to know the local markets better and
be able to give you useful advice. It is possible to use an Internet bank, but check what
services they offer. As a new business, you may need a lot more personal support than
they can give you. For a lot of business people, it is helpful to be able to talk to an adviser
face to face. You may not be able to do this with an Internet bank.

Narrator: Check the cost

Narrator: It’s important to be very clear what the charges from the banks are going to be. It may
cost you money to set up your account and if you are borrowing money from the bank,
you need to understand what percentage you will have to pay back each month and if this
can change. The amount can be fixed, or it can change with the amount of interest. How
much you pay can be a lot and make a big difference to the profit you make each month,
so pay attention to this.

Narrator: Do your homework

Narrator: Talk to other business owners about which bank they use and what their experience was
like. It’s very easy to find reviews on the Internet these days, so use this to help you too.
You should also find out what services the bank offers. For example, you may need access
to both a current account and a savings account. Does the bank offer cheques? These can
be useful for small businesses that may need to make large payments. You also need to find
out what kind of online banking is offered. It’s important to be able to quickly check your
balance wherever you are and be certain that you have enough money for your business
needs.

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TEACHER MATERIALS · PRE-INTERMEDIATE (A2-B1)

BANKING AND MONEY

Key

1. Warm up

5 mins.
This gets students to think about their own experience and start thinking about vocabulary related to the topic.

2. Focus on vocabulary

15 mins.
Part A
This looks at useful vocabulary, pronunciation and connected vocabulary. For Part C, students are likely to need
a dictionary as it deals with above level vocabulary from the same word families as that in Part A. In Part A, ask
students to do the exercise unaided in the first instance, but allow them to use a dictionary later if needed.

1. → c. 2. → a. 3. → f. 4. → e. 5. → d. 6. → b.
Part B

1. ac/cess 2. ad/vi/ser 3. mar/ket 4. pay/ment 5. pro/fit

Part C

1. branch out 2. accessible 3. marketable

4. advice 5. profitable 6. pay

3. Reading for gist

5 mins.
You may want to set a time limit to encourage students to skim read rather than read in detail.

1. Paragraph C 2. Not used 3. Paragraph A 4. Not used 5. Paragraph B

Answers to the article:

1. branches 2. access 3. markets 4. adviser

5. profit 6. payments
Sources:
aofund.org/resource/business-banking-10-tips-choosing-right-bank/#:~:text=Business%20Banking%3A%2010%20Tips%20for%

www.ft.com/content/fbf3a2d4-1c08-11e6-b286-cddde55ca122

4. Scanning for vocabulary

5 mins.
This gives extra support with relevant vocabulary to aid students with the comprehension. Ask students to work
individually firstly, and then compare answers with a partner.

1. cash machine 2. charge 3. set up 4. percentage

5. fixed 6. interest 7. cheque 8. balance

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BANKING AND MONEY

5. Reading comprehension

5 mins.
Ask students to underline where they find the answer in the article. Monitor the task and elicit correct answers.

1. False. ‘Just because a bank is bigger, it doesn’t always mean it is better.’

2. True. ‘...smaller banks are more likely to know the local markets better and be able to give you useful advice.
3. False. ‘It may cost you money to set up your account...’
4. True. ‘...you need to understand what percentage you will have to pay back each month and if this can change.’
5. True. ‘It’s very easy to find reviews on the nternet these days, so use this to help you too.’
6. True. a savings account. ... cheques? These can be useful for small businesses ... find out what kind of online
banking is offered. It’s important to be able to quickly check your balance ...

6. First conditional

15 mins.
This is intended to refresh students’ memories with the First conditional and is not intended as a first introduction.
You may want to remind students that the construction can be reversed and the comma removed, e.g, If you set up
a business account, you will pay a charge. can become You will pay a charge if you set up a business account. Students
can also spend time discussing the impact of using different modal verbs in the main clause if you wish to extend
the session.

1. take 2. loan 3. don’t 4. check 5. can 6. know

Corrected sentences:

1. If you want to know about a bank, you can read reviews online.
2. If you choose fixed payments, the amount you pay won’t change.
3. If you use an Internet bank, you may not be able to talk to someone in person.
4. If you have cheques, you can safely make large payments.
5. If you have a bank account, your money will be safe.
6. If you sell your products, the customer can pay into your bank account.

7. Talking point

10 mins.
Ask students to discuss the questions in pairs or small groups. Circulate and help as needed.

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