General Banking & Financial Services

Financial services are services provided by organizations in the financial industry. These can include banking, which encompasses the most common type of financial services. Banks are only one type of organization which provides financial services. Other organizations include credit unions, insurance companies, finance companies and credit card companies.

Aside from general banking services, financial services may include investment services, such as asset management, custody services or hedge fund management.

Other financial services are intermediation or advisory services, private equity, venture capital, angel investment, debt resolution, insurance or foreign exchange services.

General banking include many different kinds of banks. These banks include private banks, capital market banks as well as other products and outlets. Credit card machines and bank cards are an example of these types of general banking products.

General banking includes business of a bank or other financial institution. There are several different types of banks which engage in different types of banking. Some of these types include: central bank, advising bank, commercial bank, credit union and investment bank.

Services which fall under general banking are paying on checks written by clients, collecting deposits, issuing withdrawals, issuing personal, commercial and mortgage loans, debit and credit cards, cashier or certified check and wire transfers.

In 1999 Congress passed the financial modernization legislation. This legislation allowed banks to include insurance and securities in their product offerings. This aided growth in the financial services and general banking industry. Many companies have diversified their services and offerings and refer to themselves as a financial services institution rather than a bank or insurance company.