Everyone needs a bank account these days, the fact can’t be denied that banks play an important role in the modern day’s economic system. No matter which part of the globe you live in you need to have a bank account to maintain your finances in today's scenario.With this fact in mind, we need to choose a bank that can take care of all our financial needs such as providing loans, taking care of our hard-earned money, etc., so we need to pick a bank that provides us with good banking services. Banks can improve their services by being transparent in their accounting process, making terms and conditions transparent, shorting the paperwork (if possible) and provide global services no matter where we need them. A good bank can really make our lives better so it would be better that we choose one that can take care of our needs, banks provide any kind of services it would come in handy if you know them.Different types of Services that Banks offer1. Bank Accounts: The following are the types of accounts that your banks offer to their users.
- Individual Banking: Basic banking account that helps in managing individual finances, including
- Checking Accounts
- Maintaining Saving Accounts
- Debit and credit cards
- Different Types of Insurances
- Wealth Management
- Loans (such as personal loans, housing loans, educational loans, etc)
2. Business Banking: This kind of accounts are provided for all the business class people who want to manage their personal and professional finances separately.
- Business Loan (These don’t include your personal belongings as liabilities unless you provide them)
- Checking Business Accounts
- Merchant Services
- Treasury Services
3. Credit Cards: Credit cards are based on billing systems they provide your bills of the purchase at the end of a cycle, and of course the carding facility is available wherever necessary.4. Mutual Funds: Mutual fund is the managed investment (professionally) that pools investments from many investors to purchase the security of their money.5. Fixed Deposits: the Fixed deposit is the most famous bank service that is used in India. What fixed deposit really is that it is a form of lump-sum investment into the bank instead of some other third-party company. In return to this, Bank gave us a fixed return at the end of a particular time period. 6.Net Banking: This is the new service that has been added to keep pace with the new technological advancement. Net banking is the modern way of using different banking options such as payments can be done from a website or application after getting proper authorization from the bank. 7. Banking Helpline Number: Another latest service that several banks are offering these days. Such as Canara bank is having a Canara bank balance enquiry online
. Apart from Canara bank, several leading banks are also offering the same service. I have picked Canara because I am a user of their service. ConclusionFew of the services were there since the starting such as bank accounts; some were introduced later with the rise in the economy such as Mutual Funds and Business accounts.With new services of the banks, we are able to do payment without carrying a single penny in our pockets with the help of net banking services. We are pretty sure that with new services our trust in banks will increase.Now it is up to you to decide what kind of services you want and choose your bank accordingly to make your life easy and manage your finances easily.
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