4. Retail banking and service provided by bank

How Retail Banking works

Retail banks offers services to common people. Retail refers to front shop for commercial banking services. Many commercial banks deals with retail banks for services and products as well. In the banking industry, retail banking refers to banking that works directly with individual clients and offers them with basic financial services such as savings bank accounts, mortgages, personal loans, debit cards, credit cards, and safe deposit boxes.

Retail banks are often organized into regional groups, each of which has a central office and a number of branches in various locations to service a varied variety of consumers. Nonetheless, in addition to the aforementioned tasks, these financial institutions also offer services to retail clients, and they do so on a regular basis for commercial enterprises as well.

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