Compare Bank Offers: Compare products and services from banks... Mortgages, checking & more.
Over the years American banks have changed and evolved, both in the way that they operate and in terms of the services and products that they offer. Faster and more efficient than ever, today's banks use cutting edge technology and offer top-notch customer services to attract new customers and business clients.
Banks are not simply about depositing and withdrawing cash - far from it. These financial institutions now have their fingers in a variety of pies, offering a wider range of products than ever before.
Banks are critical to the country's economy, and they operate by investing account holders' money in loans to both businesses and personal account holders in the form of business or personal loans, home equity loans, mortgages and a variety of other types of credit. A bank makes money by effectively selling money in the form of credit to customers. They charge various rates of interest on these products and services, thus making a profit. They also make money from charging fees, such as overdraft fees and account fees.
Banks now cater for both business and personal customers…
providing a variety of facilities to help them to raise, save, invest, manage … and spend money. The majority of banks now offer online banking. This enables customers to deal with their finances and accounts or pay bills from the comfort of their home or office, and giving them round the clock access to services.
Checking and savings accounts…
are probably the most obvious products offered by banks. These accounts vary in terms of minimum balance required, and many charge a low monthly service fee. There are numerous savings accounts available, all varying in interest rates as well as minimum deposits and balances. Many offer bonuses to customers to encourage them to save. Banks also provide ATM and check cards. This enables the customer to guarantee checks up to the maximum guarantee value of the cars, as well as withdraw cash from ATM machines with the use of the ATM card. This card also allows the customer to pay for purchases, and the money is then automatically debited from their bank account.
Loans and credit services…
are a major part of the banking industry, and the credit that they offer takes many forms. Customers are able to apply for credit cards, home equity loans, personal loans, business loans, student loans, and mortgages. Whether or not you are granted the credit depends largely on your credit history and rating.
Another arm of banking is investment and insurance services and products.
These may include brokerage accounts, mutual funds, insurance products, IRAs, and annuities. Other services that are usually on offer include foreign exchange facilities, money transfers, and trust and estate planning. Banks can also offer consultations and advice on their products and services.
With the sheer quantity of available products and services, both personal and business customers can deal with all aspects of finance-management under one roof - saving them time and making life far simpler.