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.

Choose a type of bank 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 accounts, business checking accounts, student checking accounts and more. Some checking accounts earn interest. Simply said, these are bank account that allows easy access to the funds. This type of account is operated by businesses to pay bills and make most of their financial transactions. A person an also open a basic checking account and access it by using a debit card, setting up an automatic transfer or writing checks. One should be aware of the bank’s policy of making deposits and withdrawals to the account.

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 the 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 business, prepaid, online, unsecured, virtual credit card and more.

 

Loans

Team discussing different types of loansLearn of the different types of loans that banks offer to customers today including commercial, student, debt consolidation, payday and more. Some of the many types of loans include  debt consolidation loans, small business loans, quick cash loans, online loans and guarantor loans. There are also payday loans, installment loans, student loans, home equity loan, home improvement loans, bridging loans, and more. Interest rates deffer based on the type loan and the risk involved.

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 carry repayment terms of 20 to 30 years. These also require collateral (usually your home), interest payment, principal payment, insurance and additional taxes.

Mortgages are of different types 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 to 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 including child, health, regular, retirement accounts and more, and how they work. There are many types of accounts, some require a minimum deposit and allow early withdrawal. 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 to save money. You are allowed to write checks on certain accounts. The interest rate is normally applied to the average or minimum balance in a period. You can open an individual retirement account and get a higher interest rate. Some persons however prefer certificates of deposit or other deposit accounts 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. This will allow you to transact business on any of your deposit accounts including checking and savings. You can fund your account via the internet and use your debit card to withdraw funds at an atm.

Money Market Account

Money market account definitionLearn what are money market accounts and how they work to produce the desired results for the bank and its customers. A number of financial institutions open money market accounts for their customers. Money market accounts can receive higher interest rates than checking and savings. Open an account and make your money market deposit today to earn.

Mutual Fund

People discuss the mutual funds definitionLearn the definition and the objectives and functions of this popular fund, 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.

Learn More:

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