What are the special banking services?

18 types of banking services are; Advancing of Loans….Private banking.

• Advancing of Loans. Banks are profit-oriented business organizations.
• Overdraft.
• Discounting of Bills of Exchange.
• Check/Cheque Payment.
• Collection and Payment Of Credit Instruments.
• Foreign Currency Exchange.
• Consultancy.
• Bank Guarantee.

What are the services provided by banks?

Services of Banks

• Advancements of loans.
• Cheque payments.
• Discounting on bills of exchange.
• Collecting and paying the credit instruments.
• Guarantee by banks.
• Consultancy.
• Credit cards.
• Funds remittance.

What 3 services do banks provide?

The services most often provided include a variety of checking accounts, saving accounts, certificates of deposit, and loans, including car loans and home mortgages. Additional services may include safe deposit boxes and investment-related services.

What are the 6 services that are offered by banks?

6 Common Services that are Provided by the Banks

• Deposit facilities.
• Credit facilities.
• Remittances and payments.
• Export, import and foreign exchange facilities.
• Investment banking and wealth management.
• Ancillary services.

What are the 5 most important banking services?

Different Types of Services | Bank Accounts

• Checking accounts.
• Savings accounts.
• Debit & credit cards.
• Insurance*
• Wealth management.

What are the major types of banks?

The Different Types of Banks

• What Are Financial Institutions? The kinds of institutions that exist in the finance industry run the gamut from central banks to insurance companies and brokerage firms.
• Central Banks.
• Retail Banks.
• Commercial Banks.
• Shadow Banks.
• Investment Banks.
• Cooperative Banks.
• Credit Unions.

What are 2 types of bank?

There are several different kinds of banks including retail banks, commercial or corporate banks, and investment banks. In most countries, banks are regulated by the national government or central bank.

Which type of bank account is best?

Pros. Money market accounts can offer better rates than traditional savings accounts. You may be able to write checks from your account or access your money using a debit or ATM card. You can open money market accounts at traditional banks or online banks.

What is classification of Bank?

Commercial Banks can be further classified into public sector banks, private sector banks, foreign banks and Regional Rural Banks (RRB). On the other hand, cooperative banks are classified into urban and rural.