Commercial Banks

Commercial banks are probably what most people think of when they think of a bank. While many people also use credit unions for their banking needs, commercial (or retail) banks are still probably the most commonly used banking institutions. Retail customers and corporations have relied on these banks for generations.

As a consumer, banks offer many different products, with many different features, to both individuals and companies. While providing these services, most banks are still corporations at heart, so one of their primary goals will be to make a profit. This is generally accomplished through charging interest on capital that it lends and/or by charging fees to use its services. Many products at traditional banks are also covered by insurance through the FDIC.

Some of the services generally offered by banks are: