he primary options of banks include keeping money safe and allowing withdrawal of money when needed «

he primary options of banks include keeping money safe and allowing withdrawal of money when needed

The primary options of banks include keeping money safe and allowing withdrawal of money when needed by maintaining accounts of customers with them, when customers makes relationship with any bank they are provided by many facilities along with the account for example they issue the cheques books for easy transaction payments of any type, they provide with visa debit card, credit cards, consumer loans ,which includes personal loans, Running finance ,auto loan etc ,for customer convenience banks provide fund transfer facilities and most of all to give easy access to the customer banks provide online services so that customers can use their account anywhere anytime and along with this as now people are always short of time banking sector introduced internet banking through which their customers can access their account from home and can see the basic details of their account while sitting home and can also make transaction like fun transfer, bill payments etc.

Apart from them; there are many other types of financial services that a bank provides, Private banking allows a high net worth to all individuals, they even provide personal services like wealth management, tax planning. The capital market bank rewrites the debt and equity; they also assist company deals and restructure debts. Similarly, the credit card machine and payment networks allow usage of a wide range of financial services. They include foreign exchange services, where buying and selling of currency takes place.

The foreign currency banking provides banking transactions which are dealt in foreign currency accounts. The wire transfer also allows the customers to send funds to international banks abroad. Other financial services embrace intermediation and advisory services. These financial services include stock brokers and discount brokers; Private equity also enables funds to be easily transferred. The venture capital is a type of equity that is provided by the professional outside investors. The angel investment is leaded by an individual who provides capital for a business to establish.

The conglomerates are a financial service that is active in more than one sector. The debt resolution is a consumer service which helps the individuals to pay off their debts more easily and systematically. Insurance brokerage helps brokers to shop for insurance generally corporate property and casualty insurance on behalf of customers. The next is insurance under writing which allows the insurance underwriters to actually underwrite insurance policy for individuals. This is a financial service still offered primarily through agents, insurance brokers, and stock brokers. The reinsurance is insurance sold to insurers themselves, to protect them from catastrophic losses. Thus it is important for every individual to realize that the through these financial services they have received a lot of facilities through the modern technology. So conclusively these are very helpful for the economy if positively taken in account.


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