REVIEW OF THE VARIOUS MINTYN BANK ACCOUNT TYPES
You might probably have heard about online banking, but you are being skeptical about hopping in because you envisage the might be lacking in capacity. This could be as it pertains to account opening and maintenance. Or you need a hand, but are unsure as to the type of account to open.
To start with, MINTYN is a reliable online bank, with several beautiful offers, much more than you could have imagined. Of course, with us, you can open and run any type of account you wish to operate; just like the conventional banks. Also, we are available to guide you through the process of deciding on the type of account suitable for your needs. But before then, let’s take you through the different types of accounts you can open with us at MINTYN online bank.
Benefits Of Opening An Account at MINTYN Online Bank
Ours is an innovative digital bank, poised to make banking interesting and convenient for you. Here are some of the benefits of opening and operating an account with us.
I You will get to avoid long queues,
ii No bank chargers for your transactions,
iii No stress of paperwork, everything is done online,
iv. No monthly maintenance fees,
v. We will help you put up personal or cooperate goals to facilitate your savings,
vi You can seamlessly divide your bills, to be able to take care of them on a scale of preference.
You can open and operate the following accounts with us:
1. Personal Account: This is probably one of the most popular bank accounts, which can be opened by just about anybody. By personal accounts, we mean accounts that are set up and run by a private individual and not a set of individuals or even an entity. And it is not usually used for activities about businesses. Here, the individuals in question, get to manage their funds and have sole access to the same.
More so, for this type of account, the individual who wishes to operate the account is documented, as part of the swift registration process. After the details are confirmed, the account immediately becomes operational. Even though third parties are free to make fund transfers and deposits into the account, then, it is only the owner of the account that is permitted to any form of withdrawal from the account. Of course with that, account security is maintained. Because the account belongs solely to an individual, MINTYN has put in place juicy policies, to protect the interest of the individual account holder.
Personal accounts can either be saved or current.
a. Savings account: This is a type of account, which is known to be very useful when it comes to settling necessities that are immediate and not long-term. It is also known to be of high flexibility in operation and can be counted on, to solve the stipulated financial needs. People usually opt for this type of account due to the following:
- It makes liquidity a lot easier,
- There is usually no limit to the amount to be withdrawn,
- They are good for the solving of immediate needs, due to the good interest rate and accessibility of funds.
But to increase access to the volume of cash to be withdrawn and to enjoy higher interest rates, folks usually opt for the current account.
b. Current account: Such accounts are usually opened and operated by individuals who are regularly in need of frequent withdrawals and other transactions alike. These are usually people that are into businesses that involve steady cash flow. Whether you are making contra transactions, or your transactions border on deposits or withdrawals, the current accounts accommodate your interests. Unique about this type of account is the issuance of cheque books.
The current account is preferred, due to the following:
- It accommodates limitless cash volumes,
- Deposits or withdrawals can be made, with no notice,
- Transactions can be made as frequently as you desire,
- Payments of all types are facilitated.
2. Cooperate Account: It is financial prudence, not lump cash meant for personal use with the one meant for the running of your business. In other words, not separating this available cash, is the surest way to financial wreckage. But
with the cooperate account, you can conveniently keep money meant for your business, away from the one meant for solving immediate or daily needs.
The cooperate account which can also be referred to as a business account, is the type of account, using opened by businesses; mostly involving more than one person. And in such cases, consent is gotten from certain individuals, who oversee the affairs of the business. Also, a cooperate account can be opened by a social organization, unions, or other forms of civil organizations. Here, no single individual is the sole signatory to such an account. At least two people are made signatories. The implication of this is that, without the written approval of those signatories, substantiated by their signatures, money cannot be withdrawn from such an account. Of course, accounts are ideal for businesses or organizations of varying sizes and nature.
The Cooperate or Business account can be used in the following instances:
a. Businesses solely owned by an individual. In other cases of sole ownership such as in freelancing, small-sized businesses, NGOs, and their likes. In this case; only the sole proprietor has unreserved access to the account.
b. Secondly, this type of account can also be operated by large business outfits, with more than one person overseeing the affairs of the enterprise. This includes; Cooperative institutions, Limited liability companies, among others.
Here, not one single person has access to the bank account.
The options are multiple, the steps are simple but the benefits are numerous. The requirements are not confusing and can be found on our user-friendly App. Create an account with us today, to enjoy these and many more dividends.
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