How to use Traditional Banks?. Review on Using Traditional Banks

So the first thing you want to do is create an account. There are many two kinds of accounts namely current and savings.

If you are a businessman then get a current account, which has no fixed limit in number if transactions per day and the amount of transaction.

But you will have to pay more for a current account and services. For general public, it is advised to open a Savings account.

After you have opened an account, you like to make transactions and in order to do that, you must have a cheque book or Credit or Debit Card.

If you don't get a checkbook on opening the account, ask your bank to provide you one. You can use it to make payments to others as well as redeem the money yourself.

The good thing about having checkbook is that you have the access to all your transactions at one place. Like amount paid, received and Interest earned, and deductions too.

But now a days its better to have a Credit or Debit card. Credit card is useful for those who like to make payments even at zero balance. They are only provided to people with stable jobs.

Debit cards on the other hand are more common. They can be used at the ATMs as well as for making online transactions. To apply for a debit card, go to your banks official website and read the terms and conditions. Generally you will be required to print the form and after you've filled it submit it to your bank.

These days, many Banks have pass book printing machines which customers can use themselves. However, they only print the last 4-5 entries, so I don't like the idea of using a passbook printing machine. Better get it printed from the Counter.

When you get a Debit Card, you will not get the PIN. You will have to set it yourself using an ATM of the same bank. For authentication you will be asked to enter the OTP from your phone. So make sure to carry your phone.

For a detailed list of transactions made, you can ask your bank to provide you a Mini statement. It is the best way to see a record of the transactions you have made in a given period of time.

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