What are the different types of banks?

Most banks can be categorized as retail, commercial or corporate, or investment banks. The big global banks often operate separate arms for each of these categories. Retail banks offer their services to the general public and usually have branch offices as well as main offices for the convenience of their customers.

What are some examples of commercial banks?

Along with day-to-day business banking, these banks also offer credit services, cash management, commercial real estate services, employer services, and trade finance, JPMorgan Chase and Bank of America are examples of commercial banks, though both have large retail banking divisions as well.

What does a bank do?

A bank is a financial institution that is licensed to accept checking and savings deposits and make loans. Banks also provide related services such as individual retirement accounts (IRAs), certificates of deposit (CDs), currency exchange, and safe deposit boxes.