Learn Through Technology : How you will define banking products and services

15 September, 2021

The primary operations of banks include:

Keeping money safe while also allowing withdrawals when needed
Issuance of chequebooks so that bills can be paid and other kinds of payments can be delivered by post
Provide personal loans, commercial loans, and mortgage loans (typically loans to purchase a home, property or business)
Issuance of credit cards and processing of credit card transactions and billing
Issuance of debit cards for use as a substitute for cheques
Allow financial transactions at branches or by using Automatic Teller Machines (ATMs)
Provide wire transfers of funds and Electronic fund transfers between banks
Facilitation of standing orders and direct debits, so payments for bills can be made automatically
Provide overdraft agreements 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 a cashier's check or certified check.
Notary service for financial and other documents
Accepting the deposits from customer and provide the credit facilities to them.
Sell investment products like mutual funds etc.

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