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Retail banking

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Offering of services by a financial institution to the general public
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Part of a series on financial services
Banking
Terms
UML class diagram depicting retail banking

Retail banking, also known as consumer banking or personal 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 (corporate 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.[1]

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 restricted normal banks to banking activities, and investment banks to 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 That distinction was repealed in the 1990s.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).

Products

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A retail bank in Leeds, United Kingdom

Typical banking services offered by retail banks include:

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

Sub-types of retail banks

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See also

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References

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  1. ^ Reed, Eric (2023年03月30日). "Retail Banking vs. Commercial Banking". TheStreet. Retrieved 2024年02月05日.
  • 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.

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