Types of bank accounts

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Most of us have personal savings and settlement accounts. However, there are also other types of bank accounts, differing in parameters, purpose and functionality. They allow you to accumulate savings more effectively or make transactions in foreign currencies. As well as dedicated to other groups of customers, individuals and entrepreneurs. So it's time to look at the offer of financial institutions in this area.

Personal accounts
The most popular type of bank account is a personal account. They are mainly aimed at adult individual customers. They are used for current financial management. Personal savings and checking accounts are a type of bank account that most of us use. We receive transfers of salary, benefits, scholarships to them. They are used for current payments, card transactions and cash withdrawals from ATMs.

Savings accounts
Another popular type of bank account is savings accounts. They are designed to provide bank customers with higher interest rates than popular current accounts. Where interest is practically zero. Savings accounts denmark whatsapp database allow you to protect your savings from inflation, i.e. a decrease in the real value of money. They are designed to motivate you to save money on them. For this purpose, many banks use a system of penalties for people who violate their savings too often. Usually based on commissions for transfers from such accounts. Often, only the first transfer, from a savings account to a personal account, in a calendar month, is free. Conversely, from a personal account to a savings account, all transfers are free.

Currency accounts
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Globalism has caused many of us to use funds denominated in a form other than the Polish Zloty. Seeing the need to adapt the offer to changes in the market, banks have offered their clients currency accounts. They allow settlement most often in euro, US dollar, Swiss franc and British pound. Although sometimes, other monetary units are also encountered, from other countries. Money transferred to currency accounts from abroad, without currency conversion at the bank's exchange rate. So the savings for the client are noticeable. In addition, for currency accounts, you can sometimes receive a payment card, settled in the currency of the given account.

Business accounts
Accounts dedicated to entrepreneurs and commercial law companies are another type of bank accounts on offer. They allow you to settle accounts with contractors. Settle current liabilities to the Tax Office and other entities. Most banks maintain business accounts free of charge or with a low level of fees. Offering a range of additional services to the account. Including the possibility of financing investments or using a revolving limit. Banks willingly issue payment cards for business accounts. Allowing the use of ATMs, cash deposit machines and traditional and online payments.

Other types of bank accounts
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There are also other types of accounts. For example, technical accounts, used to handle deposits, prepaid cards and credit cards. However, from the customer's point of view, they are not of great importance. Because banks usually do not share information about them. Therefore, it can be considered that the types of bank accounts listed above are basic. Which each of us should know. Along with their basic functions and purpose.