Role of Commercial Banks
-Commercial bank accepts money deposits and therefore provides a safe place for saving money.
-Offering loans and overdraft to persons who need financial assistance.
-Assisting customers to easily make payments through standing orders, current accounts and debit cards.
Services offered by Commercial banks
-Commercial banks provide advisory services to clients who wish to borrow a loan to make investments and persons who wish to purchase securities.
-Safety deposit boxes at the bank are used to store safely items that individuals deem as highly valuable.
-Selling travelers cheques.
-Credit cards allows persons to purchase items by using funds that the bank makes available. There is a limit to how much the bank makes available to credit card holders.