Different types of bank accounts
Different types of bank accounts
Different types of bank accountsSince there are multiple types of bank accounts that are available and different fees and features that can be seen through each account, comparing the types of bank accounts that are available can help consumers to decide which bank account is right for their needs.
Checking Accounts
Checking accounts are a day to day account that can be used in combination with both checks and debit cards. There are a number of options for consumers to choose from regarding the account usage and packages can be suited whether multiple transactions are needed daily, a limited amount of transactions and even unlimited transactions through the course of the month.
Savings Accounts
A savings account allows an individual to make use of higher interest rates than a checking account but can often have a lower amount of transactions that can be completed on a monthly basis.
E-savings accounts that are available can allow the customer to save through an internet only account. Through these types of savings accounts there are often limited transactions that are available but a higher interest rate is offered to the customer.
Student Accounts
Student accounts are often associated with lower rates than other types of accounts. Student rates are available to students that are under the age of eighteen, but also for students that are attending a post secondary institution.
Determining the fees that are associated with each account, as well as the features that are available and even comparing the prices between the various banks and financial institutions that are available can be an effective way to find the best price, service and accounts that are available.