Functions of Bank

Question

Write some of the functions of Bank?

Answer 1

Functions of Bank:

A) Bank gives overdraft and short term loan facility.

B) It too give Safe deposit boxes to secure valuable possessions, like precious metals, gemstones, currency, marketable securities, or significant documents like wills property deeds and birth certificates which require protection from theft, fire, tampering, flood,  or other reasons.

C) This too issues the bank draft and bank cheque on the demand of customers.

D) It too provides the services of currency exchange. You can go to any bank and transform your foreign currency into your country’s currency. For such services bank takes certain commission.

E) Bank too sells the financial products.