Banks do far more than hold your cash. These videos explain accounts, interest, wire transfers, and the everyday tools that move and grow your money safely.
Part 1: What is Compound Interest, What is Compounding, A Detailed Example Part 2: Why is Compound Interest Important, The Rule of 72 Part 3: Importance of Saving Early and the Effect of Compounding, A Detailed Example Introduction to Compounding and Compound Interest for Kids and Teens This video explains the concept of compound interest …
Introduction to Front Office, Middle Office and Back Office for Kids and Teens This video explains the concept of front office, middle office and back office in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about them, or used as a money & personal finance …
When I was reading about investment banks, I came across the terms buy side and sell side. But what does that mean? Buy side and sell side is a way of classifying investment banks based on the type of clients they represent, and the services they provide to those clients. Some investment banks can …
Bank Transfer or ACH vs Wire Transfer for Kids and Teens This video does an ACH vs Wire Transfer comparison in a simple, concise way for kids and beginners. It could be used by kids & teens to learn about their similarities and differences, or used as a money & personal finance resource by parents …
Part 1: What is ACH Transfer, How Do ACH Payments Work, Different Types of ACH Transfers, Cost of ACH Payments Part 2: Advantages of ACH Transfers, Disadvantages of ACH Payments, Alternatives to ACH Transfers Introduction to ACH Transfer for Kids and Teens This video explains the concept of ACH transfer in a simple, concise …
We’ve talked about banks, but I heard about something called an online bank. Is it just another fancy name for online banking? Online banking is the ability to view your account activity, pay bills, transfer funds, deposit checks into your bank account, etc using the internet, either from a computer or a mobile device. Most …
What is a safe deposit box? A safe deposit box is a container—normally a metal box—that you rent from a bank or a credit union to store important documents and valuables. It is kept in the bank’s vault, and is also known as safety deposit box. Why is a safe deposit box needed? Even …
We have talked about checks before. But I’ve heard about something called check clearing. What is check clearing? Check clearing is the process through which money moves from one account to another when the payment has been made by writing a check – the amount is taken or debited from the check writer’s bank, …
Part 1: What is Wire Transfer, How it Works, Types of Wire Transfers, Their Cost Part 2: Pros & Cons of Wire Transfers, Alternatives to Wire Transfers Introduction to Wire Transfers for Kids and Teens This video explains the concept of a wire transfer in a simple, concise way for kids and beginners. It could …
In the past, we have talked about banks and credit unions. But they sound very similar. Can you please help me understand them better? Both banks and credit unions are financial institutions that help people with their basic financial needs – they accept deposits, provide loans, offer checking and savings accounts, credit cards, etc. So …