Essentials of Banking

Understanding Account Types

Before choosing a bank account, you should assess what you hope to gain from the experience. Are you looking to store your money somewhere for a long period of time? Do you need frequent access to your funds? Do you want to earn more money from storing your money in the account? Answering these questions will help you determine the type(s) of account(s) you should open. Here is an overview of your options.

Understanding Financial Institution Types

Now that you understand the account options that are available, it’s time to find institutions that offer those accounts. There are a few main types of financial institutions, and they primarily differ on the type of personal interaction they offer.