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Types of bank accounts, options depending on your goals and intentions



New Member
Whenever we use the term 'bank account' to mean an account where we can deposit and/or withdraw money, we are generally talking about deposit accounts. 'Deposit account' is a general name for all accounts that can be used to easily deposit and/or withdraw money. However, there are several different types of deposit account, each with its own pros and cons and each serving a specific purpose.
Types of bank accounts:
Merchant accounts
Checking account
Escrow accounts
Investment accounts
Savings accounts
Trading accounts


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