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Retail banking
 
 
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Retail banking refers to banking in which banking institution
Banking institution

A banking institution provides banking services.They include:* Banks* Credit unions* Savings and loan association* Building societies* Non-banking financial company...
s execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings
Savings account

Savings accounts are accounts maintained by retail financial institutions that pay interest but can not be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return....
 and checking accounts, mortgage
Mortgage

A mortgage is the transfer of an interest in property to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt....
s, personal loans, debit card
Debit card

A debit card is a plastic card which provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account , or from the remaining balance on the card....
s, credit card
Credit card

A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holders promise to pay for these goods and services....
s, and so forth.








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Retail banking refers to banking in which banking institution
Banking institution

A banking institution provides banking services.They include:* Banks* Credit unions* Savings and loan association* Building societies* Non-banking financial company...
s execute transactions directly with consumers, rather than corporations or other banks. Services offered include: savings
Savings account

Savings accounts are accounts maintained by retail financial institutions that pay interest but can not be used directly as money . These accounts let customers set aside a portion of their liquid assets while earning a monetary return....
 and checking accounts, mortgage
Mortgage

A mortgage is the transfer of an interest in property to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt....
s, personal loans, debit card
Debit card

A debit card is a plastic card which provides an alternative payment method to cash when making purchases. Functionally, it can be called an electronic check, as the funds are withdrawn directly from either the bank account , or from the remaining balance on the card....
s, credit card
Credit card

A credit card is part of a system of payments named after the small plastic card issued to users of the system. It is a card entitling its holder to buy goods and services based on the holders promise to pay for these goods and services....
s, and so forth.

Types of banking

  • Commercial bank
    Commercial bank

    A commercial bank is a type of financial intermediary and a type of bank. Commercial banking is also known as business banking. It is a bank that provides checking accounts, savings accounts, and money market accounts and that accepts time deposits....
     has two meanings:
    • Commercial bank is the term used for a normal bank to distinguish it from an investment bank. (After the great depression, the U.S. Congress required that banks only engage in banking activities, whereas investment banks were limited to capital markets activities. This separation is no longer mandatory.)
    • Commercial bank can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). It is the most successful department of banking.
  • Community development bank
    Community development bank

    In the United States, Community development banks are banks designed to serve residents and spur economic development in low- to moderate-income geographical areas....
     are regulated banks that provide financial services and credit to underserved markets or populations.
  • Private bank
    Private bank

    Private banks are banks that are not incorporation . A non-incorporated bank is owned by either an individual or a general partner with limited partner....
    s manage the assets of high net worth individuals.
    • Offshore bank
      Offshore bank

      An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction that provides finance and legal advantages....
      s are banks located in jurisdictions with low taxation and regulation. Many offshore banks are essentially private banks.
  • Savings bank
    Savings bank

    A savings bank is a financial institution whose primary purpose is accepting savings deposits. It may also perform some other functions.In Europe, savings banks originated in the 19th or sometimes even the 18th century....
    s accept savings deposits.
    • Postal savings banks are savings banks associated with national postal systems.


See also

  • Banking institution
    Banking institution

    A banking institution provides banking services.They include:* Banks* Credit unions* Savings and loan association* Building societies* Non-banking financial company...
  • Bank
    Bank

    A bank is a financial institution whose primary activity is to act as a payment agent for customers and to borrow and lend money. It is an institution for receiving, keeping, and lending money....
  • Banking in the United States
    Banking in the United States

    Banking in the United States has occurred under a series of laws passed by the federal and state governments of the United States of America....