{"id":171222,"date":"2023-03-25T04:02:04","date_gmt":"2023-03-25T08:02:04","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=171222"},"modified":"2023-03-25T08:04:58","modified_gmt":"2023-03-25T12:04:58","slug":"banking-services-in-the-eccu","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/banking-services-in-the-eccu\/","title":{"rendered":"Banking Services in the ECCU"},"content":{"rendered":"
\"\"<\/a><\/div>
\"\"<\/a><\/div>

\u2013Commercial banks and financial institutions provide a range of critically important services to the citizens and residents of the Eastern Caribbean Currency Union.<\/p>

\"\"<\/a><\/div>\n

Speaking on this week\u2019s episode of ECCB Connects, Baldwin Taylor, General Manager of
\nBank of Montserrat Limited, and Secretary of the Antigua and Barbuda and Montserrat
\nBankers Association as well as the ECCU Bankers Associations, shares information about the different types of accounts available at financial institutions and discusses some common terms used in banking.<\/p>\n

Taylor outlines that the various types of accounts offered by commercial banks include a
\nregular savings account, accounts for educational purposes; children savings accounts, and
\naccounts for retirement savings.<\/p>

\"\"<\/a><\/div>
\"\"<\/a><\/div>\n

Taylor further explains that there are different types of interest that can be generated on
\nsavings or loan accounts. Two of these are accrued interest, which accumulates daily but is
\npaid at a specific time period; and compound interest which is not just paid on the principal
\namount, but also on the interest previously earned. Interest rates, says Taylor, are usually
\napplied at a fixed rate depending on the type of account and the amount involved.<\/p>

\"\"<\/a><\/div>\n

Taylor encourages customers to engage their bankers in a conversation to clarify any
\nconcerns they may have with regards to their money.<\/p>\n

View the full discussion on the ECCB\u2019s social media platforms using the handle ECCB
\nConnects.<\/p>

\"\"<\/a><\/div>\n
\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

\u2013Commercial banks and financial institutions provide a range of critically important services to the citizens and residents of the Eastern Caribbean Currency Union. Speaking on this week\u2019s episode of ECCB Connects, Baldwin Taylor, General Manager of Bank of Montserrat Limited, and Secretary of the Antigua and Barbuda and Montserrat Bankers Association as well as the […]<\/p>\n","protected":false},"author":3,"featured_media":171230,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-171222","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\nBanking Services in the ECCU - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/banking-services-in-the-eccu\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banking Services in the ECCU\" \/>\n<meta property=\"og:description\" content=\"\u2013Commercial banks and financial institutions provide a range of critically important services to the citizens and residents of the Eastern Caribbean Currency Union. 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