what-bank-do?

Question

you-bank-with

Answer 1

i-bank-with

Answer 2

state bank of India

Answer 3

General categories of banks that you could consider:

Savings Banks: lower risk for depositors to save and earn interest; Traditional savings.
- Pre-deregulation: not allowed to conduct services of a commercial bank
Mutual Savings Bank: Depositor owned non-profit institution managed by an elected "Board of Trustees."; No Board of Directors. (BoD)
Savings Banks: Profit organisation by raising capital (money) from the public through stock sales. ( Depositors no longer had mutual ownership, hence not Mutual Savings. ) Owned by stockholders ( outsiders ) managed by BoD.

Savings and Loan Associations: Investment in home mortgages; Home borrowings.
Initially a non-profit institution ran by co-operative clubs with members borrowing to purchase and build homes, taking turns to borrow.
- Upon deregulation, ran by major stakeholders and one-man shows. Spate of cases arisen from unwise decisions lead to defrauding depositors and Government.

Credit Union: Akin to a non-profit mutual savings bank managed by Unions or employers for their own employees; Waged workers under such corporations.
- Technically not banks and do not fall under certain federal banking guidelines.
- Running costs has increased as more services are provided close to a full service bank.
- Direct deposit previously a major feature now available from most banks.
- Low interest loans as it is a non-profit member service organization.

Insurance linked Pension/Provident funds: Life time insurance with payout factor after retirement based on depositor’s funds used by the Fund to reinvest in a mix of high yield bonds, commercial loan notes and stocks; Individuals that have spare cash for retirement purposes and insurance for the family.

Commercial Bank: Provides business loans and investments; Business transactions.
- Pre-deregulation, held exclusive right to
a) invest in commercial real estate.
b) issue checking accounts.

Investment Bank: Provide large loans to merge, acquire and sell businesses (Stocks and Shares); Business transactions and wealthy individuals. Others:
- IPO’s (raising money from the public through share issue) and LBO's ( borrowing to acquire business)

The chosen bank depends on where you need to make transaction and the level of savings.
- Local banks are okay for local purchases.
- Bank with larger banks that have credibility when going out of the country, such as Bank of America and Citibank. The credit control is more stringent which is better when faced with credit card frauds and the likelyhood of being able to recover/reimburse your deposit.

Answer 4

WHAT DO YOU MEAN? IF YOU WANT TO KNOW WHAT MY BANK DOES, THEN GO TO ANY OTHER BANK IN THE WORLD AND FIND OUT. THEY ALL DO THE SAME, LEND MONEY, INVEST YOUR MONEY ACCEPT UTILITIES BILLS AND MANY MORE THINGS THEY COULD HELP TO MANAGE YOUR MONEY.