You’ve probably heard of banks, but do you know what a bank is and how it works? Banks are businesses that accept deposits and make loans to individuals, businesses and governments. They also provide other financial services such as credit cards and mortgages. Banks are usually part of larger financial institutions called “financial conglomerates” or “megabanks“.
Types of banks
There are many types of banks. Some are more convenient than others, and some have more features than others. Some people prefer to use them because they’re suited to their needs, while others choose to use different kinds of banks because they don’t want the hassle of dealing with them (or they just don’t like them). And then there’s the price tag on each type: some banks cost less than others, but what makes up for that difference?
For example, consider an account at Wells Fargo versus Bank … Read the rest