- What is a bank?
- Answer: A bank is a financial institution that accepts deposits from the public, creates credit, and provides loans.
- How do I open a bank account?
- Answer: To open a bank account, visit a branch or apply online. You’ll need valid identification and proof of address.
- What types of bank accounts are available?
- Answer: Common types include savings, checking, and certificates of deposit (CDs). Each serves different financial needs.
- How can I protect my account from fraud?
- Answer: Use strong passwords, monitor account activity, and never share personal information. Enable two-factor authentication if available.
- What is the difference between a credit union and a bank?
- Answer: Credit unions are member-owned, nonprofit organizations, while banks are for-profit corporations owned by shareholders.
- How can I improve my credit score?
- Answer: Pay bills on time, reduce credit card balances, and avoid opening too many accounts at once.
- What should I consider when applying for a loan?
- Answer: Evaluate interest rates, terms, and repayment options. Understand any associated fees or penalties.
- How do I report suspicious activity on my account?
- Answer: Contact your bank immediately and follow their recommended steps for reporting fraud or suspicious transactions.
- What is online banking and how can I set it up?
- Answer: Online banking allows you to manage your accounts, transfer funds, and pay bills electronically. Contact your bank to set up online access.
- What should I do if I lose my ATM card?
- Answer: Contact your bank immediately to report the loss. They will guide you through the process of getting a replacement card.
