Different Types of Bank Accounts & Banking Services

Learn of the different types of bank accounts and banking services including loans, savings, checking and more at onlinebankingconsultant.

Consultant explaining the different types of bank accountsChoose an account or banking service from the categories below to learn more:

Listings of Different Types of Bank Accounts

Checking Accounts

Customer writing check on different types of checking accountsLearn of the different checking accounts including business, joint, online, student and more that banks open for their customers. There are several different accounts, including Online checking account, business checking account, student checking account and more. Simply said, these are bank account that allows easy access to the funds. It is an account that is operated by businesses to paying the bills and making most of the financial transactions.



If a person has a checking account then he can access it by using a debit card, setting up an automatic transfer or writing a check. These transactions show as debit in the account. When any deposits are made into the account then they are classified as credit. Initially, when someone opens an account then he has to keep a running balance for tracking the amount in his account. The aim of keeping a running balance is to ensure that the account owner does not overdraw.

It is important to balance accounts each month as it will help to catch any error that the bank or the account holder has made. At times, people get worried about deposited cash not being displayed in the total account balance. One should be aware of the bank’s policy of making deposits available in the account. Banks apply an interest rate to some of these accounts.

Credit Cards

Man checking transactions on different types of credit cardsLearn of the different types of credit cards used today by shoppers all over the world and of their pros and cons of using them. Credit cards available to banking customers today include Student credit cards, secured credit cards. There are also those for businessprepaid credit, online credit, unsecured virtual credit card and more.

 

Loans

Team discussing different types of loansLearn of the different types of loans banks offer to customers today including commercial, student, debt consolidation, payday and more. Some of the many types of loans include Unsecured loans, debt consolidation loans, small business loans, quick cash loans, online loans, guarantor loans and secured loans. There are also payday loans, installment loans, student loans, home equity loan, home improvement loans, bridging loans, and more.

 

Mortgages

Team looking at the results of different types of mortgagesLearn of the different types of mortgages that banks offer to their customers today including buy to let, commercial, refinance and more. A mortgage loan is a legal agreement by which a society or a bank lends money to people who are ready to purchase a new property, but do not have enough cash for a substantial upfront payment. To better understand what is a mortgage, it is important to know some facts. Most mortgage loans last anywhere from 20 to 30 years, so this legal agreement is made of several parts. These include collateral (usually your home), interest, principal (down payment), insurance and additional taxes.

These include home mortgage, subprime mortgage, refinance mortgage and buy to let mortgage. There are also commercial mortgage, second mortgage, fixed rate mortgage, and more. The mortgage will continue to be a very important factor in our society, enabling people to enjoy the life they want and buy the house they can’t afford at the moment.

Savings Accounts

Man checking the balances of different types of savings accountsLearn of the different types of savings account including child, health, high yield, regular, retirement, and more, and how they work. There are many types of savings accounts. These include Regular savings accounts, high yield savings, joint savings account and child savings account. There are also health savings account, retirement savings, student savings account, and more. Some persons however prefer a certificate of deposit or other bank account that will pay a higher interest rates.

 

Banking Services

Internet Banking

Internet banking definitionLearn the internet banking definition and of the various features and security issues forming part of this online service.

Money Market Account

Money market account definitionLearn the money market account definition and how it works to produce the desired results for the bank and its customers.

Mutual Funds

People discuss the mutual funds definitionLearn the mutual funds definition and of the objectives and functions of this popular financial instrument.

Wealth Management

Wealth management definitionLearn the wealth management definition and of its strategies, client directed investment solutions and trust services.

Different Types of Banking Services

Different Banking ServicesLearn about the different banking services that customers enjoy today including certificate of deposit, debit cards, wire transfer and more. Banks also offer international bank draft, bank guarantee, trade finance, letter of credit and more products.

You can contact online banking consultant us if you would like to use our consultancy services to find the accounts and services that will bring you greatest benefits. Our team looks forward to hearing from you.

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