What are the main types of bank accounts available globally?.

Bank accounts can be categorized into several types, each serving different purposes. The main types include:

1. Checking Accounts: Ideal for daily transactions, offering easy access to funds through checks and debit cards.
2. Savings Accounts: Designed to save money, often with interest accrual, but limited withdrawal options.
3. Fixed Deposits: A savings account with a fixed term and higher interest rates, penalizing early withdrawals.
4. Money Market Accounts: Combining features of savings and checking accounts, these often require higher minimum balances but offer better interest rates.
5. Certificates of Deposit (CDs): Time deposits with fixed terms and interest rates, typically providing higher returns than savings accounts.
6. Joint Accounts: Shared accounts between two or more individuals, allowing collaborative management of finances.

When choosing a bank account, consider factors like fees, interest rates, accessibility, and specific needs.