Choose The Right Banking Product

The challenge for banks isn’t becoming ‘digital’ – it’s providing value that consumers are comfortable paying for.

Sometimes we find it difficult to come up with words for everyday activities such as podići novac s bankomata while at the same we use the most complex terms from the area of our expertise with ease.

We use many different banking products. Most of us have a 1. _ account at the local branch of one of the big high-street banks used for paying by 2. _ card and paying bills. Other accounts include a 3. _ account, owned by two or more persons and common abroad, and a giro account, which is not a standard banking product outside Croatia. Normally, everyone’s is trying to be in the 4. _, but sometimes you spend more money than you have in the account; this is called 5. _ and it is agreed by the bank, but you pay a high interest rate on it. You are then in the 6. _ or, to put it differently, you are 7. _. If you have some money to put aside, it’s a good idea to open a deposit account or 8. _ account. This account pays you 9. _____, but not very much. For a longer term savings account i.e. 10. _ deposit you will have limited access to your savings in exchange for a higher interest 11. _.

There are two common ways for bills to be paid directly from your bank account – direct 12. _ and 13. _ order. In the US and Britain, both are commonly used to 14. __ payments of all sorts of bills from mortgages and loans to credit card bills, council tax and utility bills. With direct debits you are giving a company or other organisation permission to take money out of your account on a regular basis. With standing orders, you give the bank a written instruction asking it to make regular payments of a fixed amount of money from your account.

Most people have one or more credit cards. Buying with plastic is very 15. _, but the interest rate is even higher than for overdrafts. If you want, your bank will send you a monthly bank 16. _, which should be free of charge. If you want to check your account 17. _, transfer money to other accounts and pay bills, but you don’t want to waste time 18. _ at a bank, there is telephone banking, internet banking and mobile banking, which allow you to keep on top of what is happening to your money at all times.

Other banking products include different types of loans, insurance and investment products and services.