Banks In The United States of America

The five largest banks in the United States are
* Citibank
* JPMMorgan
* Chase
* Bank Of America.
* Wachovia and
* Wells Fargo.
Online banking has also become very popular with the rising popularity of the Internet. A number of virtual banks have no offices or branches and conduct all their banking on the internet or over the phone.

Services

1.Overdraft
If you write a check for an amount that’s more than the fundr available in your checking account, the bank will charge you between $20 and $30 for each bounced check.

The bank normally returns the check to the person who deposited it or tried to cash it. If a store or another type of business attempted to deposit a check that was returned to them, the store will charge you at least $10 and will probably never accept a check from you again.

Keep in mind that banks also charge the person who makes the deposit a similar charge, which is annoying since it was not the payee’s fault. Regularly bouncing checks is considered fraud and may be punishable with high fines. If it occurs very regularly, it may even lead to imprisonment. Overdraft protection can help you avoid these penalties; ask a bank representative for more information on the types of protection plans.

2. Automated Teller Machine Most banks generally offer twenty-four-hour access to automated teller machines, or ATMs. You gain access to your account by using a bank card programmed to be accepted in the bank’s network of machines. You can make deposits or withdrawals, transfer funds between accounts and obtain account information.The maximum amount of money that you can withdraw varies from bank to bank, when you open an account, whether it’s a checking or savings account, the bank will issue a bank card for you to use.

This card, along with a secret personal identification number or pin gives you access to ATMs. You bank card allows you to conduct banking transactions in ATMs owned by other banks, but you are likely to be charged a fee for each transaction.

3. Bank Statements
You’ll periodically receive a statement in the mail showing you the activity and balance of your account. Some banks return your checks to you once they have been cashed. You should review these statements carefully; any charges that you don’t recognize should be reported to your bank.

4. Safe-Deposit Boxes

Banks offer safe-deposit boxes for rent on a monthly or yearly basis. Absolutely no person other than the person who has the key to the box can access the box or its contents. The bank has access to the box only in the event of the death of the person who rented the safe-deposit box. This type of service is useful to protect objects of great value such as passports, jewelry, foreign currency, or other important documents. 

5. Other Bank Services Most banks offer customer service over the phone. This service saves customers a trip to a bank branch if they need questions answered or need to speak with customer service. With your bank card and the phone keypad you’ll be able to transfer money from one account to another, request account balances and pay bills. Many banks also offer Internet banking, which allows you online access to your account to pay bills, make transfers, and perform other transactions.
This article is part of the series of post on Study in America

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