What are the Different Types of Financial Services?
Financial services encompass a variety of businesses that deal with money management. These include many different kinds of organizations such as banks, investment companies, credit card companies, insurance companies and even government programs. Financial services can also refer to the services and products that money management organizations offer to the public. Banks are one kind of financial services organizations. Banks generally function by providing a sheltered and secure place for people to store their money. Usually, banks will invest their clients’ stored money for the bank’s gain, while paying a small amount of interest to those who keep their money in savings or checking accounts. Banks often provide a variety of financial services, including the issuance of loans, mortgages, checks, and credit cards. Some banks are known as private banks and offer services only to those who have a high net worth. Generally, private banks will offer a broader range of services to their cli
