Italians Keep €1.16 Trillion in Bank Accounts, but Fees Are Rising
Italian people keep a lot of money in the bank. The total is 1,163 billion euros. This money is in current accounts. A current account is a normal bank account for daily money.
Bolzano is a city in Italy. It has the most money per person. Bolzano is the richest city in Italy.
Lombardy is a big region in Italy. It has one fifth of all the money in Italy. One fifth means 20 out of 100 parts.
But there is a problem. Banks charge fees for accounts. A fee is money you pay for a service. These fees are now higher.
People pay more than 100 euros every year for their bank account. In 10 years, these costs went up by 23%. This means the fees are much bigger than before.
Experts say people can save money. They can look for cheaper accounts. They can compare different banks.
Vocabulary6 words
- current account
- a bank account for everyday money
- fee
- money you pay for a service
- deposit
- money kept in a bank
- region
- a big area of a country
- wealth
- having a lot of money
- percent
- a part out of 100
Quiz
Answer key
1. 1,163 billion euros 2. Bolzano 3. True
Fill-in-the-blank listening
Play the audio again and fill in the missing words as you listen.
Italian people keep a lot of money in the _____. The total is 1,163 billion euros. This money is in current accounts. A current account is a normal bank account for daily money.
_____ is a city in Italy. It has the most money per person. Bolzano is the richest city in Italy.
Lombardy is a big _____ in Italy. It has one fifth of all the money in Italy.
But there is a problem. Banks charge _____ for accounts. A fee is money you pay for a service. These fees are now higher.
People pay more than 100 _____ every year for their bank account. In 10 years, these costs went up by 23%.
Experts say people can _____ money. They can look for cheaper accounts. They can compare different banks.