The services rendered by banks include:
Locker facility :
Banks offer locker facility to keep costly articles (gold, title deed of property) of their customers. Banks charge a certain amount for availing this facility.
Demand Draft :
Demand draft is a facility provided by banks to send money from one place to another. It is not necessary to have an account for this.
Mail transfer :
Mail transfer is a facility provided by banks to transfer money from anywhere in the world to one’s own account or to the account of another person, Telegraphic transfer is faster than mail transfer, Telegraphic transfer is the inechanism which can transfer money through a message.
ATM :
Automated Teller Machine helps the customers to withdraw money any time without stepping into the banks. Majority of the banks have ATM facility today. Now ATM of some banks provide the opportunity to deposit and withdraw money. The banks j provide ATM debit cards for this.
Credit card :
Banks provide credit card facility which helps in purchasing products without having to keep money on person, Using this, goods and services can be purchased even without having sufficient cash in one’s account. The money has to be remitted to the bank later within a specific period.
- Banks help the customers to remit their insurance premium, telephone bills and electricity bills and to purchase travel tickets.
- Service pension is also disbursed through banks.
