Lesson 29: Opening a Bank Account

Real World

Opening a Bank Account

Learning financial vocabulary and requirements.

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Comprehension Quiz

1. What type of account does the customer open?

Only a Checking Account Only a Savings Account Both Checking and Savings

2. What does the customer need to provide?

ID and a minimum deposit A credit card A letter from his boss

3. What is the interest rate on the savings account?

50% 1.5% 5.0%

Banker: Good morning. Welcome to City Bank.

Customer: Hi. I would like to open a bank account.

Banker: Certainly. Do you want a checking account or a savings account?

Customer: I need a checking account for my salary, but I also want to save money.

Banker: I suggest opening both. You need two forms of ID and a minimum deposit of $50.

Customer: Here is my passport and the money. What is the interest rate for the savings account?

Banker: It is currently 1.5% per year.