When it comes to banking services, there are many options to choose from. So, deciding which services to offer your customers can be tough.
This article will outline fifteen banking services sure to please your customers. By providing these services, you can help your business grow and thrive.
Essential Bank Services
Many banking services exist. The most common are:
- Checking and savings accounts
- Credit cards
- Auto loans
- Investment products
- Financial planning
- Wealth management
- Private banking
- Commercial banking
- Online banking
- Mobile banking
- ATM banking
- In-person banking
Checking and savings accounts are the most basic banking products and are offered by nearly all banks. Credit cards, loans, and mortgages are also standard banking products.
Investment products, financial planning, insurance, wealth management, private banking, and commercial banking are specialized banking services offered by some, but not all, banks.
Online banking, mobile banking, ATM banking, and in-person banking are all ways customers can access their bank accounts and banking products.
Which Banking Services Should You Offer?
The banking services you offer should be based on your customers’ needs. If you are a small business, you may not need to offer all fifteen banking services. However, as your business grows, you may want to consider adding more banking services to meet the needs of your growing customer base.
The following are some banking services to consider offering your customers.
Fifteen Banking Services Your Customers Will Love
- Online banking: Customers can use online banking to check their account balances, transfer money, and pay bills. This is a convenient way for customers to bank without coming into the bank.
- Mobile banking: Mobile banking allows customers to bank on the go. They can check their account balances, transfer money, and pay bills using mobile devices.
- Debit cards: Debit cards allow customers to access their funds 24/7. They can use their debit cards to make purchases or withdraw cash from ATMs.
- Credit cards: Credit cards allow customers to borrow money for purchases. They can also use their credit cards to earn rewards points that can be redeemed for travel, merchandise, or cash back.
- Loans: Loans allow customers to borrow money for various purposes, such as buying a car or consolidating debt.
- Mortgages: Mortgages allow customers to finance the purchase of a home.
- Investment products: Investment products, such as stocks and mutual funds, can help customers grow their money over time.
- Retirement products: Retirement products, such as IRAs and 401(k)s, can help customers save for the future.
- Insurance products: Insurance products like life insurance and homeowners insurance can help customers protect their assets.
- Online bill pay: Online bill pay allows customers to pay their bills online. This is a convenient way to keep track of bills and make payments.
- Mobile deposit: Mobile deposit allows customers to deposit checks using mobile devices. This is a convenient way to bank without coming into the bank.
- ATM access: ATM access allows customers to withdraw cash from ATMs 24/7. It also helps to keep ATM access fees to a minimum.
- Financial planning: Financial planning can help customers set goals
- Wealth management: Wealth management can help customers grow and protect their assets.
- Foreign exchange: Foreign exchange allows customers to convert one currency to another. This is helpful for customers who travel or do business internationally.
As you can see, your new bank can offer many services. If you pick a niche, you may only need to provide a few banking services. However, as your business grows, you can add more banking services to meet your customers’ needs.
Banking services are an essential aspect of any business. The banking services you offer should be based on your customers’ needs. As your business grows, you can add more banking services.