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Banking today involves a diverse range of services and products. It assists individuals and businesses make large purchases, send kids to college and more, by using a community’s surplus funds through deposits and investments. Understanding banking and budgeting is a critical step in ensuring financial stability and success.

The oldest kinds of banking were simple loans that were issues to businesses for the purchase of goods. When the goods were sold, the lender received the money for the loan with an interest. Today, lending activities produce the bulk income of a bank. Profit comes from the spread between the interest a bank pays for deposits and other funds and the interest it charges for loans. In recent decades, banking has also focused on collecting revenue through other means, including transaction fees and service charges on activities and services like investments, insurance, and foreign exchange.

The different types of activities involving banks are private banking, business banking, corporate banking, retail banking, and investment banking. Private banking focuses on individuals and families with large assets. Business banking offers services to mid-market businesses, while corporate banking deals with large businesses. Retail banking, which includes offshore banking services, involves direct dealings with individuals and small businesses. Investment banking deals with services on capital markets, like stocks and bonds. Retail banks and investment banks combine to form financial services companies, or universal banks. Most banks are private, profit-making enterprises, but some are nonprofits owned by the government. They act as last resort lenders and oversee monetary policy.

Banking & Budgeting

Banking and budgeting go hand in hand. In order to ensure financial stability and success, you need to develop and monitor a budget, which is ...
» Banking & Budgeting

Business Banking

Business banking services are available for mid-market business. Their most essential aspect is to offer checking accounts. Other services include providing savings accounts and money ...
» Business Banking

Corporate Banking

Corporate banking services help corporations with their financial management. Large corporations need a specialized selection of business banking services in order to help them function ...
» Corporate Banking

Investment Banks

Investment banks assist corporations and governments to raise funds by issuing and selling securities in capital markets. They also provide advice to corporations regarding mergers ...
» Investment Banks

Offshore Banking Services

Offshore banking services cater to some individuals and businesses. They are offered by the banking and investment institutions that are available in jurisdictions and countries ...
» Offshore Banking Services

Online Banking

Online banking is growing in popularity. Most people still pay their bills by checks and mail, but they may go to the Internet for other ...
» Online Banking

Private Banking

Private banking services are personalized financial services, including banking and investment options, which are offered to high net worth bank clients, who have much more ...
» Private Banking

Retail Banking

With retail banking services, banking institutions can perform transactions directly with consumers rather than through other banks and corporations. These services include transactions involving debit ...
» Retail Banking