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THE FINANCIAL INSTITUTION’S ROLE IN BANKING SERVICES

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Basic concepts in banking services: The main concept are account, ATM, bad check or bounced check, bank, checking the account, credit card, debit card, deposit, direct deposit and many more. Account: Banking services will allow the customers to handle and track their money. Commonly the bank account are saving and checking the account. ATM:  It is a special type of computer which will help the customer to handle his account and money. They can be like taking cash, transferring money from one account to other and depositing. Bad check: If there is no fund in the account then the check will get bounced and it is called bad check or bounced check. Debit card: A card will be linked to your account by using this card you can take money from ATM anytime and anywhere. And also you can do deposit and you can do shopping.

Financial Institutions:

 Bank  are in all sizes and they are opened in all locations. Banks will provide safe, security and very easy services by this we can grow a good and bright future .Bank employee are very user friendly they welcome you, respect you and make you happy. San Francisco banks are one of the best.

Benefits of using financial instruction activity: There are many benefits of these financial institutions let us see some of them,

Safety: It is more risk to keep your money in cash because it may get stolen or you may send it unnecessarily. But financial institutions like banks will keep your money safe.

Convenience: You don’t want to take your cash where ever you go, if you keep money in bank you can withdraw the money anywhere and anytime.

Money saver: There is no need of using check cashing store it will cost more amount. But these banks will not cost you any money.

Security: In all banks they must follow the government laws so that they will give you good security by doing insurance to your money.

Financial future: Good knowledge person in banks will give you good advice to create a bright future.

Types of financial institutions activity:

There are different types of institution activities. There are many types of financial institutions namely, bank, credit unions, saving institutions.

Credit union: The money will be insured in the credit union administration.

Saving institution: They have main roles in the house loans and personal loans.

Banks: These are been controlled by the central or state regulations so all laws are been maintained by state or national.

 

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