Broomhill Church

A place where everyone joins together

What Is Personal Banking?

Personal Banking includes all of the products and services that banks offer to individual consumers rather than businesses. These include checking and savings accounts, credit and debit cards, mortgage loans, and certificates of deposit.

Banks have also created new technology to make banking services easier than ever. Netbanking, for instance, allows customers to open accounts and transfer money without visiting a physical bank branch. In addition, online loan applications can speed up the application process and result in funds being available more quickly.

Some banks also offer services to help you avoid fraud. For example, they can turn off your debit card if you suspect it has been compromised.

Your bank or credit union may also offer a variety of other security options to keep your information safe. These include mobile deposit apps and password-protected personal financial management tools.

The best way to find the right banking solutions for your needs is to take a closer look at what each option offers. Then decide which is most important to you.

Establish one account for all your paycheck deposits and recurring expenses: This will give you a solid foundation for budgeting, preventing overdrafts, and tracking your spending habits. It will also minimize late payments and extraneous spending, while giving you a consistent amount of money in your pocket each month.

Set up a savings account with interest: All financial experts recommend having a savings account as a safeguard for emergencies or big-picture goals, such as a home purchase or a child’s education. Most savings accounts pay interest based on the federal funds rate, so you can earn some extra income by maintaining a balance.

Use mobile check deposit: Most financial institutions now offer a service that allows customers to deposit checks using a smartphone. With this option, a customer takes a photo of the check using the app and submits it to be paid by their bank.

Become a personal banker: A career as a personal banker pays well, but it can also be a demanding, time-consuming position that requires excellent organizational skills and the ability to maintain an impressive client list. If you want to work in retail banking while having the opportunity to spend quality time with family, a personal banker may be the right fit for you.

Personal bankers often make more than their Wall Street counterparts, and they can have a better work-life balance. They typically have more flexible hours than other retail employees, which can help them prioritize family time.

They can also enjoy extra bonuses, such as a raise when they have a certain number of active customers. This can help them make more money in their first year and build their reputation with customers who are likely to return in the future.

Personal banking can be an enjoyable, rewarding career, allowing you to spend your time helping others manage their finances and building relationships with your community. If you’re interested in personal banking, contact your local First Bank* today!