Course assignment (to be handed in on the day of the exam on a paper format)

Read the following article:

Bank by Computer: A Way to Save Cash

If you’ve been overwhelmed by all the hype and still aren’t clear about what high-tech
banking means, here’s an overview. The biggest game in town is electronic cash management –
the ability to access account information directly, without a visit to a real teller or even an
automatic machine (ATM). The most technologically advanced banks allow their customers to
use their computers to dial it for up-to-the-minute accountings. Others can provide customers
with account-balance updates at specified daily intervals, either by fax or secure voicemail.

How does bank automation benefit a business? With timely information, business owners
can make better decisions about how to manage their funds. On-line banking lets them move
cash among accounts, paying bills while still earning as much interest as possible on their cash
reserves. With PC banking, cash – management decisions are transmitted from business to bank
by computer. These days, companies can use their computers to control automatic payroll plans
as well, and they no longer have to phone or fax salary-payment instructions to their banks. And
the computers can handle tax-payment authorisations and international-currency maneuvers.

Because banks save money by reducing their use of paper, it pays to ask your bank to
give you a financial incentive for putting your company online!

A. Find the words in the text that are synonyms to bank by computer.

Automatic machine (ATM), PC banking, on-line banking

B. According to the article, which of the following statements are true?

1.a. Publicity on high-tech banking is very intense.
b. Publicity on high-tech banking is exaggerated.
c. Publicity on high-tech banking is insufficient.

2.a. You have to go to the bank to find information about your account-balance.
b. You have to use your computer to find information about your account-balance.
c. You have to ask an ATM to find information about your account-balance.

3.a. Companies receive a high interest on their deposits with on-line banking.
b. Companies receive no interest on their deposits with on-line banking.
 c. Companies receive little interest on their deposits with on-line banking.

4.a. Companies can only send faxes to their banks with instructions concerning the
payroll.
b. Companies may control automatic payroll plans on-line.
c. Companies cannot phone to their banks with instructions concerning the payroll.

5.a. You can ask the bank to repay you the cost of paper.
b. You receive more money from the bank for using their services.
c. You can ask the bank to give you some stimulus for using the PC banking.

C. Explain in your own words the following compounds taken from the above text. The
first example was done for you:

high-tech banking → banking services that use high technology

1. up-to-the-minute accountings → marked by complete up-to-dateness

2. account-balance updates → the active status of your account money
3. cash-management decisions → cash management is the corporate process of
collecting and managing cash, as well as using it for short-term investing.
4. tax-payment authorizations → obligation to be paid by natural and legal persons
for various services provided by public authorities

D. Translate into Romanian the 2nd paragraph.

Cum beneficiază automatizarea băncilor de o afacere? Cu informații la timp, proprietarii

de afaceri pot lua decizii mai bune cu privire la gestionarea fondurilor. Banca on-line le permite
să mute numerar între conturi, să plătească facturi, câștigând totodată cât mai mult interes asupra
rezervelor lor de numerar. În cazul serviciilor bancare prin PC, deciziile de gestionare a
numerarului sunt transmise de la o companie la alta prin calculator. În aceste zile, companiile pot
utiliza computerele pentru a controla planurile de salarizare automate, de asemenea, și nu mai
trebuie să trimită băncilor instrucțiuni de plată sau de plată prin fax sau fax. Iar computerele pot
gestiona autorizațiile de plată fiscală și manevrele valutare internaționale.

E. Make up sentences with each and every word given at point C(1-4).
1. Tax-payment authorizations are also seen as theft, being collected without the consent or
will of the person who produced the goods or services that are charged.
2. Cash management is the treasury function of a business, responsible for achieving
optimal efficiency in two key areas: receivables, which is cash coming in, and payables,
which is cash going out.
3. One of the simplest methods of account balance updates is bank by computer
4. Up-to-the-minute accountings are beneficial to have stability and a vision of your account
balance.