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How do bank act as financial service provider and what are the financial services provided by bank?
Parkavi20
- Keeping moneysafewhile also allowingwithdrawalswhen needed
- Issuance ofcheckbooksso that bills can be paid and other kinds of payments can be delivered by post
- Providepersonal loans,commercial loans, andmortgage loans(typically loans to purchase a home, property or business)
- Issuance ofcredit cardsand processing of credit cardtransactionsand billing
- Issuance ofdebit cardsfor use as a substitute for checks
- Allow financial transactions at branches or by usingAutomatic Teller Machines(ATMs)
- Provide wire transfers of funds andElectronic fund transfersbetween banks
- Facilitation of standing orders and directdebits, so payments for bills can be made automatically
- Provideoverdraftagreements for the temporary advancement of the Bank's own money to meet monthly spending commitments of a customer in their current account.
- Provide internet banking system to facilitate the customers to view and operate their respective accounts through internet.
- Provide Charge card advances of the Bank's own money for customers wishing to settle credit advances monthly.
- Provide a check guaranteed by the Bank itself and prepaid by the customer, such as acashier's checkorcertified check.
- Notaryservice for financial and other documents
- Accepting the deposits from customer and provide the credit facilities to them.
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