Archive for the ‘Banking’ Category

Savings Account

Wednesday, July 29th, 2015

savings accountBanks have different types of accounts which are formulated on the basis of the needs of the depositors. Like current account is opened by the business entrepreneurs to operate their business transaction, checking account to regulate the routine affairs of the depositors and not to involve money their routine transactions. Like that savings account also plays their role in the banking field. The most used account in the banks, financial institutions or the credit union is the savings account. Savings account is very helpful for the depositors who want to deposit their money in their respective banks. Savings account can also be considered as the account which provides a rise to the money deposited by the account holders.

Savings account is provided to pay off the interest on the money you have deposited in the account. Account holders can make deposits, withdrawals of cash from their savings account. This account is considered similar to that of the checking account but with different features of it. Opening a saving account in the bank is very easy and simple. This account can be opened with the nominal fee which is charged by the bank at the time of opening the account. This amount is just for the deposits and the proof of the savings account opened in the name of the depositors. Savings account is found in all the banks, financial institutions or the credit unions so any one can access this account with their respective banks.

Savings account provides with the facility of interest rate on the amount which is deposited in the account. This rate is higher than that of the checking account but is less than the certificate of deposits or the money market account. Transactions which are going to be performed are not restricted in savings account. It limits specific number of transaction of withdrawals because it is considered as the saving s account which has the main purpose of saving the money deposited. Now the facilities of multi banking have increased, so the person can withdraw or deposit the money in any bank to their respective bank account.

Savings account provides with the facilities of bank statements, passbook, Debit account to the account holder because this will maintain the track record of the transactions which are taken place. Debit card is very useful for the account holders because it helps the holder of not going to the bank for withdrawing the money but can easily access the amount they want to withdraw from the ATMs. People can now withdraw their money from different ATMs of different banks but a nominal fee is charged by the respective bank whose ATM is been used. There are many benefits of savings account.

Some of the banks charge the minimum balance fee. This means if there is minimum balance in the savings account than additional fee is charges for maintaining the minimum balance in the account. Every bank has their different rules and regulations which can be differed from other banks. The facility of messaging to the account holders is been regulated by the bank, so that if any transaction takes place, direct message is end to the holder including and stating all the details regarding the transaction done by him in the bank.

Facts on merchant banking

Saturday, May 4th, 2013

Merchant banking is one of the banking services that every merchant should have. This is a service made for merchants of kinds. The government in the recent times is in the habit of changing the laws for merchants. The merchant banking system helps all the merchants by keeping themselves up to date with the latest rules and regulations. This proves to be really useful for all the merchants as it reduces their worries of handling the government norms.

The merchant banking facility not only saves your funds but it also helps in growing them. They help you in investing them in the stock market and decide when to sell the stocks so as to book profits. For larger companies these services also issue advices on issuing the shares and to raise some money easily. These advices help a lot in a business. It is mainly advantageous for medium and smaller size business owners. So go for this banking facility and watch your funds grow in size.

What is the future of online banking?

Thursday, June 28th, 2012

Online banking, bankingOnline banking, not a matter of fact where it comes from or where it is at present, but it is most evident that it will stay. It is an absolutely indispensible tool of modern lifestyle and living aid. The services that are offered when we opt for online banking are not possible to get in course of regular banking. From this we can get an idea of the improvements the future of online banking will make.

Judging by its rate of implementation and current popularity, the user base and scope of online banking is bound to increase in the near future. Businesses and individuals who turned down the proposal of online banking will soon be left with no choice. The services like order placement, confirmation, business inquiry and bill payment are at its level best with online banking. One of the many advantages of online banking is the reduced manpower and speed of services leaving the traditional methods to become outdated.

Opening overseas account

Monday, June 4th, 2012

Benefits of overseas account, overseas accountOpening an overseas account is very essential to ensure your financial security. You can get tax benefits by opening an account here. The international focus on the overseas bank will help you to get extra benefits. You can get higher rates of interest. The use of foreign currency ensures the exchange rates higher. You can access your account anywhere anytime in the world. If your job enables you to move from place to place in the world then the overseas bank is the best way to get financial security.

The arrangements can be done online. You can use this in your estate planning and retirement planning. Opening an account in overseas bank is always very helpful and you must do it as soon as you can. This will help you in long term saving. Suppose you work in navy and you have to move about from place to place, then you can use this overseas account, both credit and debit facilities are available here. Your account in overseas banks is safe and secure and monetary transactions can also be done online.

Things to consider while choosing private banking

Sunday, May 27th, 2012

Private banking, bankingPrivate banking is nowadays been fancied by a lot as more customers are looking to switch their banking operators from government aided banks to private financial institutes. The things to consider or determine before choosing a private bank is how well the bank can provide you with services that other banks or your government bank did not. Searching for an answer to this question will give you an idea of the minute detailing of the banks services that you need to be provided with by the bank.

Also, it depends at times on the loans offered by banks because these institutes at times give away loans at a lower rate of interest to its customers exclusively. Also, when you choose a private bank you should keep in mind how well the bank will aid you in the future. The services offered by the banks are the core things on which your selection of a private bank should depend.