The world of finance may seem complicated and difficult to understand at first glance, but it is part of our daily life, as the financial environment is gaining more space in modern society every day, from paying bills through internet banks to innovative investment tools such as cryptocurrencies.
According to the Spanish magazine "negocios y empresa", having a bank account has become an essential tool to move freely in various fields.
But do you know the types of bank accounts and their functions and advantages?
What type of bank account suits your lifestyle, aspirations and interests?
Before talking about the types of bank accounts available to you, you should know that these accounts are products offered by financial institutions to their clients, to enable them to deposit, protect and manage their money from a specific platform.
Bank accounts offer other options to customers, such as credit cards, discounts, loans, or mortgages.
In order to choose the right account for you, it is imperative that you know the characteristics of each type.
current account
This type of bank account is the most used and common, especially by families, and it gives the customer the tools that allow him access to financial operations and daily transactions, and provides the owner with the ability to manage the debit card, as well as the credit card.
saving account
One of the most effective financial tools for those interested in managing their savings, and it provides the advantage of getting some type of reward for the money you deposit in your account.
And unlike fixed terms, a savings account offers you the ability to tap saved money instantly when you need it.
Savings account is one of the most effective financial tools for those interested in managing their savings (Shutterstock)
Calculate salaries
For those who work in a company, institution or body, the salary account is a practical and decisive option, and it is very similar to the current account, and the difference between them is that the salary account offers some advantages related to direct deduction from the payroll, such as deductions.
To open an account of this type, it is necessary to direct your monthly salary so that it is deposited directly into the account, and many companies contract with a bank to open salary accounts for all their employees.
Stock account
For all those interested in the world of investment, securities accounts are the perfect choice for you.
The securities account is usually linked to the current account that allows for transactions such as depositing stocks or bonds, as well as buying and selling on the stock exchange, collecting profits and keeping securities.
Corporate bank accounts
If you are a representative of a company or have your own business, banking matters will naturally be an essential part of your financial affairs.
A good relationship with your banks will allow you to improve your credit score, obtain loans and open payroll accounts, as well as other services.
As with personal accounts, business and corporate accounts may include checking or savings accounts.
Online accounts
The Internet and new technologies have contributed to changing the way modern society deals with money, and there are many financial institutions that have moved to digital platforms, aware of the need to keep pace with technological development in this area.
In fact, online accounts are quick and simple tools that allow the customer to perform all kinds of transactions from his phone without the need to move between their branches.