product offered by bank

PRODUCT OFFERED BY BANK

A bank’s job is to provide customers with financial services that help people better manage their lives. As technology advances and competition increases, banks are offering different types of services to stay current and attract customers.

Whether you are opening your first bank account or have managed a checking account for years, it helps to know the different types of banking services available. This ensures you get the most out of your current financial institution. Deciding which services are most important can lead you to the bank that best fits your needs.

Different Types of Services | Bank Accounts

Individual Banking—Banks typically offer a variety of services to assist individuals in managing their finances, including:

·   Checking accounts

·   Savings accounts

·   Debit & credit cards

·   Insurance*

·   Wealth management

Business Banking—Most banks offer financial services for business owners who need to differentiate professional and personal finances. Different types of business banking services include:

·   Business loans

·   Checking accounts

·   Savings accounts

·   Debit and credit cards

·   Merchant services (credit card processing, reconciliation and reporting, check collection)

·   Cash management (payroll services, deposit services, etc.)

Digital Banking—The ability to manage your finances online from your computer, tablet, or smartphone is becoming more and more important to consumers. Banks will typically offer digital banking services that include:

·   Online, mobile, and tablet banking

·   Mobile check deposit

·   Text alerts

·   eStatements

·   Online bill pay

Loans—Loans are a common banking service offered, and they come in all shapes and sizes.  Some common types of loans that banks provide include:

·   Personal loans

·   Home equity loans

·   Home equity lines of credit

·   Home loans

·   Business loans