Retail Banks
A traditional bank that offers multiple physical locations.
What is a retail bank?
Where banking is done digitally.
What is online banking?
Financial institution that requires membership based on specific criteria.
What is a credit union?
Provide market advice, explain regulations, and help businesses price and sell stocks or bonds to their investors.
What are investment banks?
These are some ways that banks make money.
What is interest on loans, ATM fees, overdraft fees, and account fees?
The place banks store money.
A major difference between online banking and retail banking.
What is having a physical location?
Credit unions usually have fewer of these compared to traditional banks.
What are ATMs or branches?
Help people who want to invest their money in stocks or mutual funds.
What are investment service institutions?
An option offered by banks to cover overspending an account and then charge a fee for it.
What is overdraft protection?
This organization insures banks. Typically associated with a fancy gold sign in physical locations.
What is the FDIC?
These are typically lower for retail banks when compared to online banks.
What is interest rates?
These are usually higher when compared to traditional banks.
What are the interest rates on your money?
Provide investment advice, income tax preparation, and estate planning.
What are financial advisement companies?
A penalty charged if the account holder spends more than their account balance, causing the available balance to go below zero
What is an overdraft fee?
Small banks that are usually located in your specific area.
What is a regional bank?
Doing this thing is often way more difficult than with a credit union or retail bank.
What is talking to a real person?
This federal agency insures your money when it is in a credit union.
What is the NCUA (National Credit Union Aministration)?
Help people with specific advice related to comprehensive investing strategies.
What are wealth management firms?
These people have no bank accounts.
What are the unbanked?
How many banks are there in America?
What is 5116?
Online banking is a good option for people living in these types of areas.
What is small towns with few banking options?
These are typically offered at credit unions at a lower cost than at traditional banks.
What is deposit accounts and finanical services?
Will find affordable and appropriate insurance plans for their clients.
What are insurance brokers or agents?
These financial service providers primarily target the unbanked.
What are predatory financial services?