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.
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.
Other types of banking institutions found in Washington dc are Co-operative banking systems. These offer cheap credit to their clients with very little interest rates. The customers of these types of banking are members of co-operatives in the area like housing co-operations. These ventures make it easy for their clients to access facilities and services that they cannot afford like education and health care by issuing out credit. An example of this type of bank is the National Cooperative Bank.
General utility is another non-banking function performed by these financial institutions. These include issuing letters of credit where the client is involved in international trade, provide locker facility that is keeping customers valuables like jewelry and important documents. Banks especially commercial ones deal in foreign exchange, issue out drafts to their clients for transfer of money from one place to another and also offer provide market information to their clients.
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.
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.
Other types of banking institutions found in Washington dc are Co-operative banking systems. These offer cheap credit to their clients with very little interest rates. The customers of these types of banking are members of co-operatives in the area like housing co-operations. These ventures make it easy for their clients to access facilities and services that they cannot afford like education and health care by issuing out credit. An example of this type of bank is the National Cooperative Bank.
General utility is another non-banking function performed by these financial institutions. These include issuing letters of credit where the client is involved in international trade, provide locker facility that is keeping customers valuables like jewelry and important documents. Banks especially commercial ones deal in foreign exchange, issue out drafts to their clients for transfer of money from one place to another and also offer provide market information to their clients.
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.
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