| Our first bank visits as adults tend to be quite an | | | | encourage savings. A student will not need features |
| event. I remember reading a short story entitled "My | | | | like zero balance or negative balance when it comes |
| Financial Career" by Stephen Leacock. The story | | | | to getting a bank account. However, (s)he will be |
| related the harrowing, humiliating and hilarious | | | | looking for high rates of interest for this would mean |
| experiences of a man who wanted to have an | | | | that his/her money is growing. A high interest saving |
| account in the bank despite his phobia of banks. By | | | | account might be just what the doctor ordered for a |
| the end of the story he is such a mess that he | | | | young bank account seeker. Different banks offer |
| withdraws all his money, closes his account, and goes | | | | different rates of interest on their various deals. So it |
| home. All this takes place during his visit to the | | | | makes sense to look at a wide variety of deals prior |
| dreaded bank -- the beginning and end of his financial | | | | to picking the winning deal. |
| career. | | | | Regardless of what advice you are receiving from all |
| However, this need not be the case with anybody | | | | and sundry, one important point to keep in mind is |
| else. In my opinion, most people are fairly adept at | | | | that you need to look out for the best deals in bank |
| dealing with the banking institution. That first trip to | | | | accounts. Many people will tell you that "a bank |
| the bank may be quite bewildering. However, this | | | | account is a bank account is a bank account." That is |
| confusion is likely to be due to the wide range of | | | | just not true any more. Some banks will give you a |
| bank accounts today. There are savings and current | | | | better network of branches, others will give you |
| accounts to choose from. There are accounts that | | | | more freebies, and still others will offer better |
| are meant for personal savings and those that have | | | | interest rates. Then there is the ever important |
| been designed for businesses. There are accounts | | | | customer service, not to forget shorter telephone |
| that offer high rates of interest for people who want | | | | holding queues. |
| to invest their cash. At the same time, there are | | | | Finding out about the various kinds of bank accounts |
| accounts that provide incentives to make people | | | | that are available will stand in good stead a person |
| save. | | | | who is unfamiliar with the whole process. (S)he will |
| Someone who is new to the bank account may find | | | | become aware of the various kinds of accounts that |
| himself being inundated by bank accounts of all kinds. | | | | are available. Thus, (s)he will be able to make the |
| "Which account do I choose" is a question that every | | | | most of this information. The institution of banks is a |
| new account holder finds himself asking. When the | | | | necessary one for modern life. These days, not |
| person in consideration is a student, the aim is to | | | | having a bank account is not a possibility. |