Financial services refer to the financial services offered by the finance industry. This includes credit unions and banks, credit-card companies as well as insurance companies, financial services companies, accountancy companies, consumer finance companies, stockbrokers, investment funds, managers, and certain government-sponsored enterprises.
Commercial Bank
A commercial bank is also known as a bank. To distinguish it from an Investment Bank, the term commercial is used. This type of financial service entity helps companies raise money from other companies such as https://www.thinksme.sg/ in the form of bonds or equity.
Image source: Google
Commercial banks primary operations include:
Keep your money safe and allow withdrawals as needed
Insuring checkbooks to pay bills and send other types of payments by post
Provide personal loans and business loans. These loans are typically used to buy a house, property, or business.
Billing and issuing credit cards, and processing credit card transactions
To be used as a replacement for cheques, issue debit cards
You can make financial transactions in branches, or with automated teller machines.
One of the most influential and important sectors in the economy is financial services.
Financial services encompass a wide range of activities, including investing, banking and insurance.
Financial services refer to only the activities of financial service firms and their professional staff, while financial products are actual goods, accounts, or investments they provide