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Summary: There are many different types of checking accounts and all have different levels of interest rates. Manage and protect business and personal money with an online bank account using tips from an experienced businessman in this free video.
Patrick Munro's affinity for investing and financial matters began more than 20 years ago with business education and service throughout the ranks of the banking, insurance and...read more
"This is Financial Adviser Patrick Munro talking about the different types of checking accounts. Of course there are two types of main checking accounts, one is for personal use and one is for business use. On the personal use side you can always tie your checking accounts to the highest rate of interest, that is to say a high interest checking account. Perhaps you'd like to take advantage of money market mutual funds, therefore you can tie your checking account to those money market mutual funds. Most of those accounts are available through brokerage houses as opposed to banks. And in many times you can just have a utilitarian checking account that does not pay a high rate of interest, and instead put your savings accounts in a separate vehicle with the bank. And of course in each of those categories there are sub-categories of personal use and business use. Checking accounts are very important to have and you must survey your personal needs to see which one would be the most suitable for you. This is Patrick Munro, Financial Adviser."