Banks are financial institutions which have existed for a very long time, established and often the most reliable way to save, store and exchange monetary values-especially if it involves large amounts. However, banking can cause a lot of money, and efforts in order to have a successful transaction, not everyone can afford to maintain and make transactions in a bank. Due to the rise of many other forms of financial institutions and technological advances, the common people and large accounts have wished their banking transactions to change.
Internet banking is also offered by local and foreign banks, giving customers greater ease in viewing and managing their bank accounts. Consumers can choose among three basic types of bank accounts: current, savings and deposit accounts. Some banks may offer services which are aligned with the Islamic Sharia.
If you are keen on opening a bank account in the country you are moving in, there are two ways to proceed. First, you can open a bank account upon your arrival in the country. You will need to prepare and present official documentation which will include your passport, residence certificate and visa. It would also be beneficial if you bring with you copies of recent bank statements from your previous bank as well as a recommendation letter.
When you open an account at one of the banks in your area, or any bank for that matter, you are forming a long-term relationship. It is not often that people change their minds about their financial institution once they open an account. As long as you are receiving the services that you desire, you are prone to stick with that financial institution. If you choose to do business with a certain bank, make sure that you are happy with the customer service. Ask about fees associated with various accounts. Depending on your needs, you may need a checking account, savings account, or both. Find out how lost credit cards, overdrafts, and debit card purchases are handled.
Next, find out what your potential advisor did before becoming an advisor. Was he/she a math expert who majored in statistics at college? Do they have an advanced degree in accounting or business? The answer to these types of questions can tell you a lot about the Ivory Tower experience someone may have, and whether it’s relevant enough for your trust. You want someone with good character, much like you would in choosing a good doctor or lawyer.