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Personal banking services describe the instruments and/or services a financial institution may offer to its individual clients. Exact services can vary, depending on the bank, but do tend to include a few standard offerings. Some institutions will offer a variety of additional products to help their clients build and/or protect wealth.
What are the Most Common Personal Banking Services?
Traditional banking institutions will generally offer their clients access to such financial vehicles as:
- checking accounts
- savings accounts
- certificates of deposit
- credit cards
- creation of cashier's checks
- loan instruments
- money market accounts
- individual retirement accounts
Banking institutions will sometimes offer their clients access to a number of other services that go beyond standard checking, savings and loan vehicles. These additional services are offered to provide extra earnings potential, extra security for personal wealth, or just plain convenience for clients. Personal banking services offered by an institution may also include such things as:
- safety deposit box access
- notary services
- online banking
- insurance and annuity options
- brokerage services
