Types of Financial Institutions – Part 2, 2026 – Lecture Notes and
Study Material
retail - ANS✔✔ banks are sometimes called traditional banks.
credit - ANS✔✔ A union usually has lower fees than a traditional bank.
online - ANS✔✔ banks don't have buildings because all of their business is done digitally.
debt - ANS✔✔ You want to avoid any services or products that have to do with
overdraft - ANS✔✔ Stay away from protection.
Intrest
fees
insurance - ANS✔✔ What are three ways banks make money?
Banks try to sell you Credit cards and Personal loans because of the fact they can make money
off of the absurd interest rates which will make $100 in debt go to $200 if not properly paid off.
- ANS✔✔ Why do you think banks will try to sell you credit cards or personal loans?
Study Material
retail - ANS✔✔ banks are sometimes called traditional banks.
credit - ANS✔✔ A union usually has lower fees than a traditional bank.
online - ANS✔✔ banks don't have buildings because all of their business is done digitally.
debt - ANS✔✔ You want to avoid any services or products that have to do with
overdraft - ANS✔✔ Stay away from protection.
Intrest
fees
insurance - ANS✔✔ What are three ways banks make money?
Banks try to sell you Credit cards and Personal loans because of the fact they can make money
off of the absurd interest rates which will make $100 in debt go to $200 if not properly paid off.
- ANS✔✔ Why do you think banks will try to sell you credit cards or personal loans?
