What are the advantages and disadvantages of retail banking?

Answer 1

I do all of my banking online. my checking account (usaa) has a 1% interest rate and I never pay an ATM fee. I get a $15 a month credit for the ATM fees that show on my account at the end of each month. due to the fact i do most of my bills online and my pay check is automatic deposit i never need cash. on the rare occasion that I do need to deposit a large amount of cash i would have to go to a currency exchange convert it to a check and mail it to my bank. In the 8 years that I have done on line banking that happened once. My bank supplies me with self addressed paid postage envelopes to mail deposit checks.

in short if you work a lot with cash and checks i suggest retail banking. Online banking is a lot easier if you do most of your bills online.

Answer 2

Merchant banks are the original banking institutions, their primary difference from other types of banks and one of the advantages of merchant banking is that instead of offering loans to business they provide capital in the form of investing in share ownership. They also provide corporate services such as portfolio management, support on Mergers and Acquisitions, and other specialized services. In the U.S., these institutions are known as investment banks. One of the main criticisms of this type of bank is the inherent conflict of interest many see in a situation where a bank that is invested in specific companies also advises others on equity trades and portfolio management.

Answer 3

A big advantage of retail banking is that in the big chain banks, there is less likely that your interest rates will be raised at random. These banks are also usually well known around the country and give the consumer a sense of security in depositing their money.

Answer 4

Advantages of branch banking include convenience, and in some cases extended hours. There are not many disadvantages to branch banking. One may that a branch bank might not have all of the services that you are looking for.

Answer 5

One advantage of a commercial bank is there are more locations to serve customers. A disadvantage is that personal service is less customer orientated.

Answer 6

one advantage is that you could borrow money and one disadvantage is that people steal money from the bank