In the past few years, Wall Street has experienced some difficult market conditions. Several banks are have gone to digital marketing services to avoid losses. Between all of this, it’s important to know if the bank that you’re with can hold their ground during these times.
Here’s a list of the 10 best banks in America based on the value of their assets.

JPMorgan Chase & Co.
Assets: $2.35 trillion
Several banking companies merged in the year 1996 to form one large bank. That’s JPMorgan and Chase. Today, they stand as the biggest bank in America. They’re headquartered in New York City with 94 branches and almost 230,000 employees across 100 different countries.

Bank Of America
Assets: $2.18 trillion
This bank was formed in the year 1904 by Amadeo Giannini. In the beginning, it was named as Bank Of Italy. It later came to be known as Bank Of America. The company headquarters is in Charlotte, NA. They’ve got over 5,100 banking outlets and more than 150,000 employees.

Wells Fargo
Assets: $1.84 trillion
Founded in 1852 by Henry Wells and William Fargo, this bank is headquartered in San Francisco. This banking company is known well to support environmental programs. It’s been ranked first in the list of banks supporting a green movement in 2009. The bank has more than 265,000 employees and more than 8700 branches across 35 countries.

Citigroup
Assets: $1.8 trillion
The Citigroup bank was founded in the year 1812. Citibank is the financial service division of the Citigroup with headquarters in Manhattan, NY. In North America alone, they have 983 branches and more than 15 million users.

Goldman Sachs Group
Assets: $878 billion
This bank was founded by Marcus Goldman and Samuel Sachs in 1869. They’re headquartered in New York. The bank operates across Asia, America, and Europe. They’ve got more than 35,000 employees. The bank has also acquired General Electric 2015.

Morgan Stanley
Assets: $807 billion
Morgan Stanley is another multinational financial services corporation. They’re headquartered in Manhattan. Today, the bank has more than 1300 offices and 60,000 employees.

U.S. Bancorp
Assets: $428 billion
Known as the fifth largest commercial bank in the US, this bank was founded in 1929. The parent company of this bank is the U.S. Bank National Association. Today, the bank has more than 3000 banking offices across 25 American states.

Bank of New York Mellon
Assets: $372 billion
The bank formed in 2007. It’s more commonly known as BNY Mellon. It’s one of the 20 oldest banks of America. Their initial operations started back in 1784.

PNC Financial Services
Assets: $361 billion
This bank is shortened to PNC. They have deposits of the value of up to $249 billion. The bank has more than 2600 branches. They have both online and mobile services. They stand 5th with the number of branches and have over 9000 ATMs till date.

Capital One
Assets: $330 billion
The Capital One Financial Corporation specializes in credit cards, home, and auto loans. They also do regular banking services as well. It was founded in 1994 in the name of Monoline Credit Card Company. It was later named as Capital One in 2005.

A bank is a good bank when you can put faith and money in them. In return, they should help you save, safeguard, and grow your money. Everyone wants nothing but the best. That’s why we’re giving you a list of the 10 best banks in the world based on their assets.

Industrial And Commercial Bank Of China
Assets: $3.55 trillion
Ranking first on the list, this bank has a diverse branching system. It’s also highly internationalized, with 17,000 offices and 330 branches and subsidiaries spread across 76 different countries and regions.

China Construction Bank Corp
Assets: $2.98 trillion
This is the second largest bank in the world. It holds around 13,600 branches throughout China. The bank also has an international presence in some of the biggest cities in the world.

Mitsubishi UFJ Financial Group
Assets: $2.90 trillion
The third is a Japanese bank which was originally founded in 1880. Headquartered in Tokyo, the bank is the largest in Japan and third largest globally.

Agricultural Bank of China
Assets: $2.81 trillion
Next is another Chinese bank, which ranks third in China and fourth worldwide. The bank has a large network. This includes nearly 23,670 branches in China. They’re also spread across 9 major cities around the world. The bank has more than 320 million customers with both retail and corporate banking services on offer.

Bank of China
Assets: $2.65 trillion
It’s said that this bank is the more internationalized bank in China. It ranks the 4th largest in the country. The bank holds up to 26.6% of the group’s profit with their international subsidiaries account.

HSBC
Assets: $2.60 trillion
This bank is based in London. It was founded in Hong Kong in 1865. Today, this bank is a global player which serves nearly 60 million customers across 71 countries.

JPMorgan Chase & Co
Assets: $2.46 trillion
This bank is headquartered in New York. They’re the biggest bank North America. The bank was founded in 2000. Today, they’ve got an international banking footprint.

Banque Nationale de Paris (BNP) Paribas
Assets: $2.41 trillion
This French bank was founded in 2000. They’re the second largest bank in Europe. It has a highly diversified nature of operations. This allows them to grow continually in the past several years.

Bank Of America
Assets: $2.18 trillion
At ninth place is another American bank. This is the second largest in the United States. They’ve got their head office in North Carolina. They operate across 40 countries and serve over 50 million customers.

Japan Post Bank
Assets: $2.02 trillion
The last on the list is the largest bank in Japan based on the number of deposits. It was established in 2007 and has faced tough competition the past few years. But this bank manages to stand at the 10th position across the globe.

These banks offer some of the most comprehensive lists of services in the world. They’ve got a wide range of resources and services that you can use if you choose to bank with them. They cater to a majority of the world’s population.

Banks and financial institutions may sound the same, but they’re two different entities that work in different ways. They can be classified as banking financial institutions, or banks’ and nonbanking financial institutions. These are called financial institutions.
On a top level, banks are commercial entities whose role is to accept deposits and give loans. But financial institutions like investment banks, insurance companies, and financial firms are more inclined to offer various services schemes and plans to their customers.

Banks

Middlemen
Banks are banking financial institutions that function as middlemen. They connect depositors to lenders. A bank’s basic workflow is to accept deposited funds, and then lend these funds to customers who need it. A bank’s customers are generally people who want loans for various reasons. This can range from investment, education, or personal purchases.

Payment Agent
Banks have another function to perform. They act as a payment agent. They offer payment services like debit cards, credit cards, cheques, cash deposits facility, and draft facility and more. People deposit money in banks for three primary benefits safety, income through interest, and convenience.
The deposit is the money that the bank uses to generate revenue. The volume of these deposits decides the capacity of the bank to lend funds. Alternatively, a bank invests these deposits in assets or financial securities too.

Financial Institutions
Financial institutions are non-banking institutions. These include investment banks and companies and firms that are into leasing, insurance, investment and financial services and schemes. They work across a more wide range of financial sectors like
Service to corporates: Underwriting debt, share conflicts, security trading, business investments, company advisory services and derivative transactions as well.
Protection schemes: Insurance companies offer schemes and service against potential losses.
Investment and Pension: Mutual Funds and Pension schemes provide retirement plans and long-term saving returns. Investors are allowed to invest in these funds and then receive an interest income on returns.
Leasing: Leasing companies make huge capital available for large investments. This includes real estate purchases and costly equipment purchases.

To Summarize The Differences
—� Banks are middlemen between depositors and lenders. Financial institutions are more service providers than actual banks
—� Banks generate revenue by the interest they earn on the loans they lend. Financial institutions generate revenue through a more complex procedure. This includes fees, commissions, premiums, and installments.
—� Banks can accept deposits, non-banking financial institutions cannot. So, they create other schemes and services.
—� Banks are a safer place to deposit funds and savings. Non-financial institutions are for income, retirement, and investment.
The difference between banks and financial institutions is something that not a lot of people are aware of. But this is important since if you’re looking to save or invest money, that’s something that you should be aware of. If you’re someone that is looking to either save your money or try and invest it such that you’re ready for an early retirement, then you’ll need to know the differences between the two. It can make a world of difference.

Opening your first bank account can be a huge deal if you think about it. Are you unsure of which bank to choose? There are hundreds of banks to choose from. This means that you should have a few things in mind before you choose one.
Here are some tips that you should know when choosing banks and institutions:

Legitimacy
This is probably the most important thing that you need to consider. Many new banks have cropped up and they offer great interest rates and other features. Such features can tempt you to open an account with them. But make sure that the bank is totally legitimate. This keeps your money safe. You don’t want them to suddenly close up and run away with your money.

Location
With facilities like online banking, you don’t have to visit your bank that often anymore. But you’ll need to visit your bank if you want to deposit cash. That’s the reason why most people look for a bank that has a branch that is near to their home or office. Having an ATM of your branch near your place also helps.

Branches
If you’re sure that you’ll never leave your city, then you can open an account in a bank that has only one branch. But if there’s a possibility that you will be moving from place to place, then choose a bank that has a number of branches in different cities, or even countries. This can save you a lot of hassle in the end.

Services
One of the most important things that you should consider when choosing a bank and institution are the services they provide. You might be planning to open a saving account for now. But in the future, you might need a home loan or business loan. You might even consider opening a fixed deposit account. All of these services can be easily availed when you’ve already got an account in that bank. So, check out the services that different banks offer.

Fees And Rates
The fees and rates of different banks differ. If you’re opening a saving account, compare the interest rates of all the banks. Most banks offer an interest rate around an average number. However, even a .5% difference can be huge over a term of 5-10 years. That’s dependant on how much money you have in your account.
Most banks don’t charge you anything as long as you’ve got an account with them with the minimum balance. Some can charge you for extra services they provide. This includes things like SMS alert etc. Look for these as well.
Choosing a bank and institution becomes a lot easier when you know what you’re looking for. If you’re someone who prefers one-to-one banking, then you should choose a small bank with a few customers. But if you’re someone who travels a lot and prefers banking online, then choose a bank that has a good online presence. This includes a good website and a reliable app.

When it comes to banking, there’s a lot more to know than what meets the eye. Banking isn’t just about saving money in an account, getting interested, and withdrawing it. Not all banks and institutions are created equal. Different banks also have different services.
Some banks cater to people while some cater to companies. Whether you’re planning a career in the banking sector or you’re just curious, a little knowledge can help you understand how the system works. Here’s a look at the five most common banking institutions in the USA:

National Banks
A national bank is a bank that’s been federally chartered by the government of United States of America. National banks are insured by the Federal Deposit Insurance Corporation. They offer any and all financial services that you can think of.
From checking and saving accounts, to money card services and offering loans and insurance, national banks have them all. Some banks that belong to this category are Bank of America, Citibank, PNC Bank, and Capital One.

Retail Banks
Retail banks offer consumer services directly to individuals. One of these services includes opening checking or saving accounts. They also offer credit card or debit card services. They also have loan and retirement services. As you can see from the name, these banks are helping individual customers with their banking services. A retail bank can be a local bank with no other branches as well. It can also be a branch of a commercial bank or local bank set up to provide services at a regional level.

Commercial Banks
Commercial banks offer products and services like fundamental investment schemes, business advances, bond investment schemes, overdraft facilities, and mortgage loans. These are profit-making enterprises. They offer the same services like retail banks. But commercial banks focus on businesses as customers. They can also offer short term loans.
Before the Great Depression, all commercial banks in the US were considered to be investment banks. After the banking system collapsed in 1929, the need to limit the operations of banks to one kind either investment or commercial arose.
In other countries, there are two types of commercial banks:
—� Public commercial banks, which are usually government owned. Their objective is overall development
—� Private commercial banks which run solely on the motive of profit

Investment Banks
An investment bank is a financial institution that handles securities transactions for their clients. They run on the revenue they get by doing transactions. This includes mergers and acquisitions, derivative trades, foreign money transactions, equities, and fixed-income instruments.

Central Bank Or The Federal Reserve
Like most other countries, USA has its own central bank. The Federal Reserve, or Fed, looks after all the banks and institutions in the country. Its work includes printing currency, helping other banks during monetary crises, protect everyone’s money, punish banks and other financial institutions for any kind of fraudulent behavior etc. They are a politically free entity and work independently.

Reducing the usage of papers and having electronic transfers done directly to our bank account is known as direct deposit. It is a simple and cost-effective process mostly used for income tax refunds and pay checks.

Setting up your direct deposit access:
Life becomes simple with direct deposit. Go cashless, tension free, and quick with assurance for your transactions. Pay checks, tax refunds, and social security payments can be easily deposited or transferred to your US bank savings account. All you need to do is register yourself for the direct deposit scheme with your bank account details linked to it. Make sure the details you give in are secure so that the entire process can be done online by login to the particular website.

Benefits of direct deposit:
There’s no fear of losing checks anymore as transactions are made easy, thereby reduces financial crimes. It’s easier to track down crimes and check the problems. It is a cost-effective method reduces the usage of paper and ink and the transaction is secure. It also gives immediate access to your funds, reduces the work load of going to the bank and filling papers, and waiting for your transactions to be passed and approved.

How safe are your transactions?
There are always notifications for your transactions from the bank. This assures that all your details are safe and there’s never a risk of losing your personal details. It also makes it easy for the government to directly transfer your deposits safely in account; this reduces the process of sending checks and mailing documents. This is comparatively a safe measure as the funds are immediately transferred and there’s no risk of losing the check, misplacing it, stolen, wrong address, spelling errors, delay of postage, etc. Make sure that you keep your direct deposit account details safe and do not reveal your password and pin numbers to others.

Important tips to remember:
Make sure you have a good internet connection with access to emails. The direct deposit refund dates are announced online and one needs to keep track of them. The direct deposit system is very useful for students to transfer funds to their institutions. Keep your bank details correct and passwords confidential to avoid delay in the process. Link your account with the direct deposit website if you are enrolled with the government schemes in order to avoid any delay or theft. It is an easy process for government employees to get their salary as it reduces the check clearance time and is available spot on.

Technology has pervaded every aspect of our lives. This includes how we go about conducting banking transactions. If you desire convenience and accessibility to your account at all times, go the online way.

It is very simple to open an online bank account. And just as the traditional banking offers you a choice of accounts ”savings account, checking account, money market deposit account and certificate of deposit account, you can hold any of these accounts in the online mode as well.

Having an online bank account entitles you to all services and privileges that you would enjoy in a traditional banking system. Over and above, what you gain the most is convenience and saving in time.

You can either have an online bank account with any of the brick and mortar banks or choose to hold a bank account with online-only banks. The USP of such online banks is their high interest rates and no fees. They are able to save on overheads, the benefit of which is passed on to the bank’s account holders in the form of higher interest and lower fees.

Anytime Anywhere Banking
Your online bank account helps you to transact at any time of the day or night. Even if you’re travelling out of the country, for business purposes or a holiday, you can access your account, make payments and effect transfers. In short, you can access your account 24/7.

Time Saving
Why do you want to waste your time in queues at the bank to withdraw cash or make deposits or pay bills or know your account balance? All these can be accomplished in a jiffy with just a simple click of the mouse. With banks offering mobile apps, you can download the app on your smartphone. Get your banking done while you’re travelling to work on the Amtrak or while you’re waiting for your lunch at the restaurant.

Secure
Bank URL’s are secure websites with multiple layers of encryption. Plus all transactions need to be validated through a unique user ID and password. You can be rest assured that all your personal financial info is secure and safe.

Host Of Facilities
Holding an online bank account, you can check your balances, set auto bill payments, transfer funds between accounts, view and print your account statements.

Whether you choose to open an online savings account or an online checking account, you will be able to access your account information at all times. This includes verifying if you have written only the specified number of checks allowed in the savings account or any maintenance fees have been charged for not maintaining the minimum balance in your checking account.

If you want to enjoy hassle-free banking, go ahead and submit an application for online bank account.