concept   bank account ownership
18 commonsense assertions
Cultures (18) • Western countries (1) • China (1) • South Korea (1) • Australia (1) • Brazil (1) • Canada (1) • Germany (1) • Ghana (1) • Indonesia (1) • Kenya (1) • Mexico (1) • Nigeria (1) • Norway (1) • Qatar (1) • Saudi Arabia (1) • Sweden (1) • Switzerland (1) • economic development in Africa (1)
# Concept Culture Statement Freq.
1 bank account ownership Western countries Bank accounts are crucial for managing personal finances and accessing credit in Western countries. 8
2 bank account ownership China In China, individual ownership of bank accounts is the norm, with joint accounts being less common. 2
3 bank account ownership South Korea In South Korea, checking accounts are the main type of bank account used for everyday financial transactions. 2
4 bank account ownership Australia In Australia, it is common for parents to open bank accounts for their children at a young age to save money for their future. 1
5 bank account ownership Brazil In Brazil, opening a bank account at a young age is encouraged to promote financial literacy. 1
6 bank account ownership Canada In Canada, it is common for parents to open bank accounts for their children at a young age to save money for their future. 1
7 bank account ownership Germany In Germany, it is common to have a savings account as the main bank account for long-term financial planning. 1
8 bank account ownership Ghana In Ghana, children typically do not have bank accounts until they reach the age where they can earn their own income. 1
9 bank account ownership Indonesia In Indonesia, individual ownership of bank accounts is the norm, with joint accounts being less common. 1
10 bank account ownership Kenya In Kenya, it is common for families to share a single bank account for collective financial management. 1
11 bank account ownership Mexico In Mexico, it is encouraged for young people to open a bank account to promote financial literacy. 1
12 bank account ownership Nigeria In Nigeria, children typically do not have bank accounts until they reach working age and start earning their own income. 1
13 bank account ownership Norway In Norway, it is common for spouses or partners to hold bank accounts jointly. 1
14 bank account ownership Qatar In Qatar, it is common to open a bank account later in life, after completing education and beginning a career. 1
15 bank account ownership Saudi Arabia In Saudi Arabia, bank accounts are commonly opened later in life, after completing education and beginning a career. 1
16 bank account ownership Sweden In Sweden, bank accounts are typically held jointly by spouses or partners. 1
17 bank account ownership Switzerland In Switzerland, it is common for people to have a savings account as their main bank account for long-term financial planning. 1
18 bank account ownership economic development in Africa Bank account ownership in Africa is not widespread and financial transactions are often conducted through informal channels due to limited economic development. 1