Banks are categorized according to the products and services offered and the type of clients they serve. Clients have different needs hence the availability of different types of banks to meet these varying needs. For safe keeping of your money and other valuables in Washington dc banks are the best option because their services are very efficient and security very high.
The common type is the basic bank account which can be opened by anyone. With this account the customer can deposit and withdraw money regularly little or no fee is charged during these transactions it all depends on the bank one chooses. Clients are given cards that they use when withdrawing money.
However one is not able to get access to chequebooks and bank overdraft when they open this type of account. Interest rates that clients get when they deposit money and due to the number of transactions they carry out are lower as compared to other accounts. For easy withdrawing of money ATMs are given to customers and the fee charged is low.
Another primary function of these ventures is issuing out advances and loans to their customers. The interest rates charged on these loans are higher than the ones charged on some deposits. Examples of advances and loans are cash credits, discounting of bill of exchange, overdrafts among others.
Like basic accounts, current accounts have low interest that a customer receives on their money. However these accounts have the bank overdraft facility which the customer has arrange with his or her bank. Chequebooks are also available as a form of payment.
Investment banking has a wide range of products and services for their customers. These products are advertised in the media and online so that clients can be able to know more about them. Services providers provide foreign exchange services, security in terms of equity and act as agents to the clients when securities are being issued. Their clients can also consult them about the types of businesses to invest in and the money that is needed. Companies that want to merger can seek advice from investment ventures, they will also be advised about acquisition of property.
In recent years online banking has become very common and the best type of banking institutions as the make banking easy for their clients. These kinds of ventures do not usually branches that are of the brick and mortar system. Bank transactions are done through the internet including opening of accounts checking account balances among others.
Other types of accounts are checking accounts which can use both debit cards and cheques. This account has different packages that are custom made to suit different customer needs. E-saving accounts allow customers save money through the internet, check account balances and open accounts. These types of account are becoming common in Washington dc banks are embracing these kind of banking. They have limited number of transactions that one can carry out within a day and higher interest rates.
The common type is the basic bank account which can be opened by anyone. With this account the customer can deposit and withdraw money regularly little or no fee is charged during these transactions it all depends on the bank one chooses. Clients are given cards that they use when withdrawing money.
However one is not able to get access to chequebooks and bank overdraft when they open this type of account. Interest rates that clients get when they deposit money and due to the number of transactions they carry out are lower as compared to other accounts. For easy withdrawing of money ATMs are given to customers and the fee charged is low.
Another primary function of these ventures is issuing out advances and loans to their customers. The interest rates charged on these loans are higher than the ones charged on some deposits. Examples of advances and loans are cash credits, discounting of bill of exchange, overdrafts among others.
Like basic accounts, current accounts have low interest that a customer receives on their money. However these accounts have the bank overdraft facility which the customer has arrange with his or her bank. Chequebooks are also available as a form of payment.
Investment banking has a wide range of products and services for their customers. These products are advertised in the media and online so that clients can be able to know more about them. Services providers provide foreign exchange services, security in terms of equity and act as agents to the clients when securities are being issued. Their clients can also consult them about the types of businesses to invest in and the money that is needed. Companies that want to merger can seek advice from investment ventures, they will also be advised about acquisition of property.
In recent years online banking has become very common and the best type of banking institutions as the make banking easy for their clients. These kinds of ventures do not usually branches that are of the brick and mortar system. Bank transactions are done through the internet including opening of accounts checking account balances among others.
Other types of accounts are checking accounts which can use both debit cards and cheques. This account has different packages that are custom made to suit different customer needs. E-saving accounts allow customers save money through the internet, check account balances and open accounts. These types of account are becoming common in Washington dc banks are embracing these kind of banking. They have limited number of transactions that one can carry out within a day and higher interest rates.
No comments:
Post a Comment