The activities of financial institutions may be divided into four major categories:
savings accounts, certificates of deposit, money market accounts, government securities, pension schemes.
current (US: checking) accounts, electronic funds transfer, payments by telephone, money orders, traveller’s cheques, standing orders.
cash loans, credit cards, mortgages, overdraft facilities, hire purchase, advances for working capital, business start loans, business expansion loans.
Insurance, investment services (issue of securities for business firms), financial management for individuals, safe deposit boxes, foreign currency exchange, credit and budget counseling, documentary credit, factoring, leasing, pension fund supervision and management, discounting bills, status reports on buyers/suppliers, advice on foreign markets, representation in mergers and takeovers