Banks offer different types of accounts. First and foremost is the checking account to call, followed by fixed-term deposit account, savings account and investment account. Spoken by one account, as is so often the checking account meant. This account is private and companies willing to handle financial activities.
Banking Account Types
What types of accounts are available?
The current account
On the current account, the content is usually recorded and processed monthly resulting liabilities such as rent, insurance and mobile phone contracts. The current account belonging to the debit card can be used to pay and withdraw cash at ATMs. However, all other amounts received as pensions or child allowances and rental income are recognized in the current account.
These direct debit can be used, making these services easy and straightforward. An integral part of the current account should be a cash card, usually it's the debit card. With their money can be withdrawn from the machine. Depending on where the current account is, the cashback can be free. The debit card is a cashless payment available. The amount is simply debited from the bank account.
Generally satisfy a signature or a four-digit PIN. The account can also be done online or by telephone banking. To keep the finances at a glance, account statements sent by post on a regular basis. Since the amount can be equipped with the daily, is often limited, it should be ensured that the account is not overdrawn.
The money market account
On this account money is parked for a period of time, so to speak. Often, the savings account is tied to the current account. The interest rate of a bank, which is on the savings account is higher than on the current account. The money, however, is to have flexibility on the account. Parking in the savings account is useful if you do not know where to hinbuchen a certain amount of money. The money market account has the flexibility of the current account and has a lucrative interest. If you then know what to do with the money, it can be used directly. A notice need not be complied with.
The fixed-term deposit account
The fixed deposit account has no such flexibility as the money market account. Also on the fixed deposit a certain amount for a certain period is provided. A rather attractive return is the result. However, sometimes a minimum amount must be paid. The money that is invested in the fixed deposit account, gets a previously negotiated rate for the entire term and will be paid with compound interest at the end of the term.
The longer the maturity, the higher drop out rates. The risk associated with a fixed deposit account is at zero. The deposits are covered up to € 100,000, which manifests itself naturally in the interest noticeable. The yield is lower than other risky investments, such as the investment. Who can divide his money on several deposit accounts, has the guarantee that the money is proportionately short notice.
The deposit account
Whoever acts with shares and securities, the need an account. A deposit account has the same principle as the checking account. You need it to organize his securities transactions.
The savings account
On the passbook different amounts can be paid. The credit will be remunerated at the end of the year and credited to the savings account. Attractive interest rate and compound interest can be realized over a longer period.