Banking Services

In this topic, we looked at several different kinds of financial institutions and the services they offer. More importantly, you identified the services that are important to you so that you find the bank or other financial institution that best meets your needs.

One thing that makes this decision so important is the fact that your first bank account may be the first entry on your credit history. How you manage that account can determine how much it will cost you to borrow money or if in fact you will be qualified to borrow later on! Matching your needs with the services a bank offers will make it easier to begin and maintain a positive relationship. Remember that research is the key. If the closest bank branch is 50 miles away - that might mean you can't make deposits when you need to which could cause you to overdraft your account. Thinking about these issues in advance is a good thing to do!

Now that you know what is out there and how to choose a financial institution that best meets your needs, let’s discuss banking services in more detail. Coming up: how to open and manage various accounts, balance a checkbook, and utilize online banking services.