What is the role of the bank? And the banker? The bank offers many financial services to individuals and businesses, such as depositing and managing funds, granting means of payment, credit or even offering savings products. The banker acts as an intermediary and has the role of helping the consumer to manage his account.
The role of the bank is essentially in the management of finances, whether it is a private consumer or a business. As such, a bank offers a whole series of services:
1- Opening a bank account
The first role of a bank with customers is to open a bank account for them. Consumers will be able to deposit funds into this account and make transfers and debits. They will also be able to receive their income, salaries, pensions… and spend money using the associated means of payment.
Banks offer several types of account, such as the individual account or the joint account, but also professional bank accounts. However, you must not be prohibited from banking to subscribe.
2- Granting of means of payment
Having a bank account allows you to obtain means of payment. Bank card and checkbook will be provided to the customer who will be able to spend the funds deposited in the bank account.
3- Provision of credit
The role of a bank is also to be able to provide credit to its customers, whether it is a consumer loan or a mortgage. However, note that the bank has no obligation to extend credit to anyone. It can choose arbitrarily, according to its criteria, to grant a loan to one customer but not to another.
4- Investment of savings
Livret A, LDD, life insurance… so many savings products that are also offered by banks and that allow you to grow your money.
Which bank to choose?
While almost all banks offer all of these services, they don’t do it at the same price. Traditional banks in particular can be expensive, while online banking is often free. We have made a TOP 3 below so that everyone can find the best bank :