cash at bank account which kind of account
Answers
Answer:
Cash at bank is real a/c
it appears in Assets side of Balance sheet!!
this is your answer
Explanation:
Different types of bank accounts serve different needs. Depending on your goals, it’s wise to put money into the best account and use the right tools for spending and saving. Doing so allows you to maximize the return from your bank, minimize fees, and manage your money conveniently.Most banks and credit unions offer the following types of accounts, which we’ll cover in detail below:
Savings accounts
Checking accounts, including interest checking
Money market accounts
Certificates of deposit (CDs)
Retirement accountsIntroduction to Bank Accounts
Types of Bank Accounts
Opening a Bank Account
Closing a Bank Account
Joint Bank Accounts
How to Switch Banks
Ways to Transfer Money
How Much to Keep in the Bank
Spending from Savings?
Balancing Your Checking
Checking at Multiple Banks
Best Banks to Use in 2019
BANKING AND LOANS BASICS
Types of Bank Accounts
Bank with ample free parking
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BY ERIN ONEIL Updated June 25, 2019
Different types of bank accounts serve different needs. Depending on your goals, it’s wise to put money into the best account and use the right tools for spending and saving. Doing so allows you to maximize the return from your bank, minimize fees, and manage your money conveniently.
Most banks and credit unions offer the following types of accounts, which we’ll cover in detail below:
Savings accounts
Checking accounts, including interest checking
Money market accounts
Certificates of deposit (CDs)
Retirement accounts
Savings
Savings accounts are typically the first official bank account anybody opens. Children may open an account with a parent to begin a pattern of saving. Teenagers open accounts to stash cash earned from a first job or household chores.
Savings accounts are an excellent place to park emergency cash. Opening a savings account also marks the beginning of your relationship with a financial institution. For example, when joining a credit union, your “share” or savings account establishes your membership.
Good For Your first bank account: Kids, adults looking for a place to park savings or extra cash.
Drawbacks: Savings accounts typically yield a low-interest rate in comparison to money market accounts and CDs. They do not come with a debit card for purchases, and banks limit some types of withdrawals to six per month.