What are the major categories of financial services?

Answer 1

Major financial institutions are banks, investment companies, credit card companies, insurance companies and even government programs.

Major categories of financial services are:

• Commercial banking services: checking and savings accounts, issuance of Credit and Debit Cards, security deposit boxes, loans, mortgages, etc.
• Investment banking services: capital markets, private banking, brokerage
• Foreign exchange services: currency exchange, wire services, etc.
• Investment services: asset management, hedge fun management, custody services (the safe-keeping and processing of the world's securities trades and servicing the associated portfolios).
• Insurance services: Insurance brokerage and underwriting, reinsurance
• Other services: bank cards, credit card machine services and networks, Intermediation or advisory services (services involve stock brokers and discount brokers), venture capital, angel investment (an affluent individual who provides capital for a business start-up, usually in exchange for convertible debt or ownership equity, conglomerates (institutions that are active in more than one sector of the financial services market e.g. life insurance, general insurance, health insurance, asset management, retail banking, wholesale banking, investment banking, etc. less than economic capital is for the sum of its parts, financial market utilities (organizations that are part of the infrastructure of financial services, such as stock exchanges, clearing houses, derivative and commodity exchanges and payment systems such as real-time gross settlement systems or interbank networks, debt resolution (a consumer service that assists individuals that have too much debt to pay off as requested, but do not want to file bankruptcy and wish to pay off their debts owed).

Answer 2

Depending on the bank you use this can vary from debt protection to financial trading. It may also depend on the laws in your state governing banks.