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Everything you Need to Know About Banking

Started by H. M. Nasim, October 15, 2018, 12:15:13 AM

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H. M. Nasim

Most of us know what a bank is. We know that in order to better manage our financial life; we should have both a checking and savings account at a minimum. We also know their services are similar across the board for most banks. Some of these services include:

1. Accepting deposits
2. Making auto, home, and business loans
3. Reporting what you paid and earned
4. Issuing credit cards
5. Online bill payment
6. Providing investments
The list can go on and on, but those are basic things most banks will offer. However, what varies from bank to bank are the terms and conditions. That is why everyone should consider their unique needs and then select the bank that best meets those needs.

Comparing Your Choices
There are national, regional, and local community banks around the country. These banks are further categorized into the following segments:
1. Commercial Banks
2. Savings & Loans (S&C)
3. Credit Unions
4. Mutual Funds and Brokerage Firms
5. Virtual (Online) Banks
6. Commercial Banks

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