Opening a Savings Account

Clerk: Good morning.What can I  do  for you?

Victor Nemirov: Good morning.I would like to open a savings account. Could you explain your policy to me?    

Clerk: A small initial  deposit  is all it takes to open a savings  account at our bank, but if you open your account with five hundred dol-    
lars or more and keep that much at all times,there is no service charge.If you fall below the 500 dollar limit, you will be charged five dol-    
lars a month.                          

V.N.:I'm not sure I understand what   you've said about the five-hundred-dollar limit.Could you explain that    
to me again?

Clerk: Of course. Our bank requires  you to maintain a minimum balance of  500 dollars or more. Should your minimum balance fall below that amount your account would be charged for 5  dollars a month.                       

V.N.: I see. That's clear enough.One more question.                         

Clerk: Go ahead.    

V.N.: How does the bank know what amount to use to figure out my balance? Clerk: Okay. That's not difficult to understand.Our computor adds all the  daily figures and then divides by the  number of days in our statement period. That's called your averige daily     ­
balance.                                 ­

V.N.: May I ask you another question?

Clerk: I'll be happy to answer your  question.

V.N.: Could I get a banking card  after opening an account?
             
Clerk: When you open an account, you will be in touch with your money-thanks to our machine services.  Our machines can handle the most regular  teller transactions.You can make deposits, cash withdrawals,and balance inquiries with your card.The machine  
is at work 24 hours a day, 7 days  a week.                              

V.N.: Okay.I've made up my mind. I'd like to open a savings  account with a deposit of one thousand dollars.      

Clerk: Could you please fill out this application.Besides you need to write  a deposit ticket for 1000 dollars. If  you have any questions regarding the  application, I'll be glad  to assist  you.                                  

V.N.(fills out application and deposit ticket).                          

Clerk: Everything is correct. Here is  your passbook. The bank will pay you  5 1/2% interest.                       

V.N.: Thank you for your assistance.