📌 What you’ll learn in this article:

• What the banking system is and how it works
• Types of bank accounts and their main differences
• What bank fees are and how to avoid them
• How credit and debit cards work
• Basic concepts of credit, overdraft, and loans
• Tips to manage your bank relationship more consciously

🧠 Why understand the banking system?
The bank is one of the most present institutions in our daily lives—it handles your payments, income, credit, and even investments.
However, lack of knowledge about banking services can lead to unnecessary costs, debt, and frustration.
Learning how banks work is a key step to protect yourself and make the most of what they offer.

🏛️ What is the banking system?
The banking system is made up of financial institutions that securely store your money, offer credit, process payments, and provide financial products.

Types of institutions:

• Commercial banks (Itaú, Bradesco, Santander, etc.)
• Digital banks (Nubank, C6, Inter, etc.)
• Credit unions (Sicredi, Sicoob)
• Savings banks (e.g., Caixa Econômica Federal)
• Development and investment banks (e.g., BNDES)

💳 Types of bank accounts

Current Account
Purpose: Daily transactions, salary deposits
Recommended for: People who need to make transfers, payments, and use debit or credit cards

Savings Account
Purpose: Saving money with automatic interest
Recommended for: Those who want to start saving safely and without risk

Digital Account
Purpose: Fully online banking, no physical branches
Recommended for: Those who prefer convenience and no fees

Salary Account
Purpose: Exclusively for receiving salaries
Recommended for: Employees with formal contracts, pensioners, retirees

‍🔎 Tip: Digital accounts usually have fewer fees and more transparency. Always compare!

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💸 Bank fees: what you can avoid
Many banking services are free by law or by the bank’s own offerings, but people still pay for them out of unawareness.

Free basic service package
According to Brazil’s Central Bank regulation, all banks must offer a free basic package, which includes:

• 1 debit card
• 4 withdrawals per month
• 2 transfers between same-bank accounts
• 1 monthly statement

You can request this package at any time!

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🧾 Credit vs. Debit Cards: What’s the Difference?

Debit Card (or Pix)

• The amount is deducted immediately from your account
• Ideal for real-time expense control
• No interest charges (as a rule)

Credit Card

• The amount is paid later, via a monthly bill
• Requires planning to avoid turning into debt
• Can have very high interest rates if the bill is paid late

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‍⚠️ Reminder: Credit cards are not your money. Misuse can easily become a financial trap.

💳 Credit, Loans, and Overdrafts
Understanding the cost of credit is essential. Before using:

• Overdraft: very high interest, should only be used for very short-term emergencies or same-day repayment
• Personal loan: used for consumer spending—pay attention to the Total Effective Cost (TEC)
• Financing: for big purchases like a home or car—requires long-term planning
• Payroll loans: deducted directly from salary or benefits—usually lower interest rates
  📈 Always compare interest rates and the total cost before signing any loan or credit agreement.

🔐 Basic banking security

• Never share your password or token
• Use two-factor authentication
• Avoid clicking on suspicious emails or message links
• Keep your banking app updated

🧩 How to manage your bank more wisely

• Compare banks: digital, traditional, or credit union? Choose what fits your needs
• Negotiate fees: yes, you can always ask for fee waivers or credit card annual fee reductions
• Learn to read your statements: if something seems off, contact your bank
• Use digital channels responsibly: they save time, but require caution to avoid scams

If you enjoyed this content, share it with anyone who still thinks “dealing with banks” is too complicated.
Banking education is power — and power with awareness means freedom! 🚀

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OKP (OneKey Payments)

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