Banks have different types of accounts with each account made to meet different customer needs. A client can hold more than one bank account but they should be of different types. Each account type has its own advantages and requirement. It is good to research about the types of accounts one can open in Washington dc banks in this area have the customer care section where one can go a get clear information about accounts and financial matters.
These ventures accept customer deposits which are in various categories and are kept in different accounts. Saving deposits are kept in the savings account, have a low interest rate, encourage saving among customers and are suitable to the working class. For large sums of money clients are encouraged to make fixed deposits which are usually done for a specific period of time. They have high interest rates.
Commercial banking keep customer deposits and lend out money to those in need of it at a set interest. They also keep valuable documents and other possessions like jewelry for their customers. When instructed by customers they buy shares, sell out stock make payments like insurance money on their behalf.
Current accounts are also customized to be used daily by customers in payments of cash, money withdrawals among others. With this type of account a debit card is issued out to customers making it easy for them to access money from anywhere where there is an ATM machine. These debit cards can also be use by clients in making payments in supermarkets, petrol stations among other business forms that allow this kind of payment.
The secondary functions of the bank are also known as non-banking roles. One of these secondary roles is the banking institution acts as an agent for its customers. The financial institution as an agent will transfer funds from one branch to another, make periodic collections like of salaries and payments for example electricity and water bills, collect cheques and among other agency roles on behalf of its client. This role is only carried out with the clear knowledge about it and acknowledgement by the customers.
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.
Student accounts as the name suggests are accounts held by students in schools and universities. To open this account among other requirements one should provide an admission letter from their respective school. These accounts have the overdraft facility and have some incentives like complimentary insurance. The limited amount one can keep in the account is low as compared to other accounts. However there are no interest rates that customers get on the money saved in these accounts.
These financial institutions not only keep your money and other valuables safe they also advise you accordingly. To ensure satisfaction among their clients in Washington dc banks will ensure that their services are of high quality, sufficient and very effective. These banks are very easy to access and all customers financial needs will be catered for.
These ventures accept customer deposits which are in various categories and are kept in different accounts. Saving deposits are kept in the savings account, have a low interest rate, encourage saving among customers and are suitable to the working class. For large sums of money clients are encouraged to make fixed deposits which are usually done for a specific period of time. They have high interest rates.
Commercial banking keep customer deposits and lend out money to those in need of it at a set interest. They also keep valuable documents and other possessions like jewelry for their customers. When instructed by customers they buy shares, sell out stock make payments like insurance money on their behalf.
Current accounts are also customized to be used daily by customers in payments of cash, money withdrawals among others. With this type of account a debit card is issued out to customers making it easy for them to access money from anywhere where there is an ATM machine. These debit cards can also be use by clients in making payments in supermarkets, petrol stations among other business forms that allow this kind of payment.
The secondary functions of the bank are also known as non-banking roles. One of these secondary roles is the banking institution acts as an agent for its customers. The financial institution as an agent will transfer funds from one branch to another, make periodic collections like of salaries and payments for example electricity and water bills, collect cheques and among other agency roles on behalf of its client. This role is only carried out with the clear knowledge about it and acknowledgement by the customers.
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.
Student accounts as the name suggests are accounts held by students in schools and universities. To open this account among other requirements one should provide an admission letter from their respective school. These accounts have the overdraft facility and have some incentives like complimentary insurance. The limited amount one can keep in the account is low as compared to other accounts. However there are no interest rates that customers get on the money saved in these accounts.
These financial institutions not only keep your money and other valuables safe they also advise you accordingly. To ensure satisfaction among their clients in Washington dc banks will ensure that their services are of high quality, sufficient and very effective. These banks are very easy to access and all customers financial needs will be catered for.
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