The services offered by the banks to businessmen to conduct their business activities successfully are known as banking services. The development in the banking sector today has immensely influenced on the success of businesses. Among the different types of banks existing today, the supporting services provided by commercial banks will only be discussed below.
Commercial Banks
Commercial banks are the institutes providing various banking services while maintaining current accounts and other accounts. These are also known as licensed commercial banks due to the fact that they are operated under a license issued of government. There are number of services offered by these banks to customers. Among them the following supporting services offered by commercial banks are discussed below.
1. Services related to deposits
2. Services related to electronic cash
1. Services related to deposits
The commercial banks maintain various deposit accounts in order to provide an
opportunity for the businessmen, to deposit their excess money and to facilitate
their business transactions.
These different types of deposit accounts are as follows.
# Savings accounts
# Fixed deposits
# Current accounts
