What is Banking?
Money is very vital as it is the major means of exchange across the world. The implication is that we often sometimes spend it carelessly.
In other cases, some people also do not mind stealing money from those who have. Thus, the invention of banks made robbing homes less attractive since most people now keep their money in the bank Banking entails the act of keeping money and other precious or expensive items in a company, whose task it is to keep the money and items safe until you are going to need them.
However, nowadays we see more and more online banks being used, which is not strange in our digital era in which we can control almost every aspect of our lives, so why not our own finance too?
What are the most popular Banking types?
The most popular banking types are putting a monetary deposit in the bank. In the past, it used to be to withdraw it when it is needed.
However, with the advent of online banking, it doesn’t have to be withdrawn before it can be used. With the right banking apps and USSD, it is possible to directly transfer the money or use them for some payments.
Furthermore, there are credit and debit cards that can be linked to the account to make a withdrawal at a later time.
Another popular type of banking is collecting loans and mortgages. Companies and individuals can collect loans from a bank to finance a house, a car, a business, a medical expense or other perceived urgent needs with the aim of paying back later with some interest.
What kinds of Banking are there?
Other types of banking include the keeping of precious and expensive items like jewelry and house documents in the bank for protection from theft. They can be collected when returned.
Also, there are also a lot of other banking services including checking your account statement and paying off bills among others.
How important are online reviews when choosing an online bank to open an account?
There are certain banking services you would be interested in when you open an account in a bank or when you approach a bank.
It is important to read reviews to be sure that the bank provides such services with the right condition and without hidden charges.