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Banking Products and Services - Coggle Diagram
Banking Products and Services
Functions
Thrift
Credit
Payment
Cash management
Underwriting
Investment/ planning
Brokerage
Insurance
Trust
Two major categories of deposit accounts in the USA
Transaction accounts
Savings accounts
Two ways in which you can borrow
To spend more money than you have in your current account i.e. to overdraw
To get a loan
Two major categories of loans
Business
Consumer
A line of credit is essentially a preapproved credit limit against which the business borrows.
Banks make loans of reserves to other banks through the federal funds market and to securities dealers through repurchase agreements.
ATMs allow customers to conduct a variety of transactions on their accounts, such as
Withdrawals
Deposits
Loan and credit card payments
Balance and account history inquiries
Bank trust divisions act as agents for corporations and other businesses in a host of different ways
Issuing securities on the business customer’s behalf
Paying dividends or interest owed on any securities issues
Einvesting the dividends for security holders who request that service
Retiring the securities at maturity