Basic Financial Products
Many tools are available to help you manage your money and plan for the future. Banks are a good start. More and more banks provide information in various languages and have representatives that will gladly answer your questions. They will take the time to explain to you the numerous financial products available to you. These banks want your business. So visit your local bank branch to find out what financial products can cover your needs. Some of these basic banking products are: Payment Cards Savings Account Checking AccountPayment CardsThe most common kinds of payment cards are credit and debit cards. When making a purchase, these cards provide a safe alternative to cash and checks. With a credit card you will be able to buy now and pay later. Debit cards are offered by many banks when you open a checking account. Unlike credit cards, purchases and cash withdrawals made with the card at ATMs are deducted straight from the checking account. Whether it's a credit or a debit card, you will receive a monthly statement listing transactions incurred during the month, enabling you to log your expenses. Learn more about Payment Cards.Back to Top Savings AccountA savings account is a safe and profitable alternative to keeping large sums of cash at home. Your money earns interest and, in most cases, the US government backs the funds. Interest rates vary and a minimum balance may be required.Back to Top Checking AccountA checking account allows you to pay your bills by using checks instead of cash. Your bank account statement is a record indicating where you have spent your money and can be very useful in managing your budget. Paying bills with your checking account can also be a less expensive alternative to using money orders or certified checks. Depending on the amount of money kept in the account, you might not have to pay any fee. You may even earn interest.Back to Top |
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