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Retail banking

  (Redirected from Retail bank)

Retail banking, also known as consumer banking, is the provision of services by a bank to the general public, rather than to companies, corporations or other banks, which are often described as wholesale banking. Banking services which are regarded as retail include provision of savings and transactional accounts, mortgages, personal loans, debit cards, and credit cards. Retail banking is also distinguished from investment banking or commercial banking. It may also refer to a division or department of a bank which deals with individual customers.

In the U.S., the term commercial bank is used for a normal bank to distinguish it from an investment bank. After the Great Depression, the Glass–Steagall Act resticted normal banks to banking activities, and investment banks were limited to engaging capital market activities. That distinction was repealed in the 1990s. Commercial bank can also refer to a bank or a division of a bank that deals mostly with deposits and loans from corporations or large businesses, as opposed to individual members of the public (retail banking).

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ProductsEdit

 
A retail bank in Leeds, United Kingdom.

Typical retail banking services offered by banks include:

In some countries, such as the U.S., retail bank services also include more specialised accounts, such as:

Sub-types of retail banksEdit

See alsoEdit

ReferencesEdit

  • Tiwari, Rajnish and Buse, Stephan (2006): The German Banking Sector: Competition, Consolidation and Contentment, Hamburg University of Technology (TU Hamburg-Harburg)
  • Brunner, A., Decressin, J. / Hardy, D. / Kudela, B. (2004): Germanys Three-Pillar Banking System – Cross-Country Perspectives in Europe, Occasional Paper, International Monetary Fund, Washington DC 2004.
  • Retail Banker International – news, data, analysis and business information for the retail banking industry: Retailbankerinternational.com