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.
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Commercial banks primary operations include:
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Keep your money safe and allow withdrawals as needed
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Insuring checkbooks to pay bills and send other types of payments by post
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Provide personal loans and business loans. These loans are typically used to buy a house, property, or business.
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Billing and issuing credit cards, and processing credit card transactions
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To be used as a replacement for cheques, issue debit cards
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You can make financial transactions in branches, or with automated teller machines.
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One of the most influential and important sectors in the economy is financial services.
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Financial services encompass a wide range of activities, including investing, banking and insurance.
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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