Description: At its most basic level, a bank is a place to safely keep your money. But beyond the basics, banks usually offer a wide range of products and services designed to make managing your money a bit easier.
From car loans to credit cards, there are plenty of banking services you may need at different stages of life. And with digital options, you can access many of them right from your phone or laptop. Below is a review of financial topics that may help you learn banking basics. There’s also a glossary of terms at the end.
Why should I put my money in a bank? Keeping large sums of money at home can be risky. Even though the odds may be small, there’s always the chance of loss, theft or even a natural disaster. When you deposit money in a bank that’s insured by the Federal Deposit Insurance Corporation (FDIC), you’ll know that it’s protected up to allowable limits.
Dealing with cash for everyday expenses can be a bit cumbersome. Besides that, a bank account allows you to track your expenses in a single place, which can be helpful if you’re monitoring a budget or building a savings account. Paying bills online can also simplify the process (as opposed to buying stamps and mailing checks).
Another consideration? Interest. Cash hidden in the cookie jar or under the mattress can’t multiply. But an account that earns interest pays you just for keeping your money there. Rates of interest vary from bank to bank, and from account to account, so you may want to shop around before deciding where to stash your cash. Here’s more info on ways you can bank and services that are offered: Other relevant information as regards to the reputable financial firms in Nigeria today include: 1)#Alat bank transfer codes 2)#Zenithbank transfer codes 3)#Ecobank transfer codes 4)#Gtbank transfer codes 5)#Uba transfer codes e.t.c 6)# kudda bank ussd codes