Reynaldo Gamboa Alejandro and Dr. Gloria G. T. Syquia. Checking accounts are the most commonly used banking service. To avoid carrying large amounts of cash, many use personal checks to pay for everyday goods and services.
Savings accounts are primarily for depositing money to earn interest.
Savings and loans institutions, labor unions and credit unions also provide checking and savings accounts services. Safety deposit boxes are locked boxes available in several sizes and located at most banks for those who want security for their valuables, including important papers and items. As the financial center of the country, New York City seems to have a bank at every corner, at least in some neighborhoods. Begin by touring the neighborhood where you live or work. Customers wishing to open new accounts will be welcomed by bank's customer services personnel and there are forms to fill plus identification papers to provide.