Lesson No 20C-Bank,

Bank

A bank is a financial institution that provides various financial services to individuals and businesses. Here are some common services offered by banks:

• Savings accounts: Accounts that allow you to save money.
• Checking accounts: Accounts that allow you to deposit and withdraw money.
• Loans: Providing loans for various purposes, such as buying a home or car.
• Credit cards: Issuing credit cards for making purchases.
• Safe deposit boxes: Renting secure storage for valuables.
• Financial advice: Providing financial advice and planning services.
• Foreign exchange: Exchanging foreign currency.

There are different types of banks, including:

• Commercial banks: Banks that serve individuals and businesses.
• Investment banks: Banks that specialize in financial services for businesses and corporations.
• Central banks: Government-owned banks that regulate the country’s money supply.

Would you like to know more about a specific type of bank or banking service?