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Personal Banking

Intensive integration of banking services to individuals in the national financial and credit system has led to the quality development of the services provided. At the same time, the population in the demand for banking services has grown.

The concept and essence of personal banking

Personal banking services are a range of financial credit and service operations related to the provision of services to private customers of the bank in the framework of the realization of their financial interests. Banking operations related to servicing individuals include 4 categories:

  1. Service – these are all operations in which there are only two participants: a private individual and a bank. This includes deposits, bank lending, settlement transactions, etc.;
  2. Corporate and retail – servicing bank operations between individuals and companies, while the bank acts as an intermediary in such transactions. For example, payment of utilities, goods, etc.;
  3. Technological – providing advanced services, including remote banking and account management systems;
  4. Electronic payments – a range of services, including the issuance and maintenance of various types of bank cards, payments, electronic document management.

Personal banking services can be represented as follows:

The provision of personal loans is carried out as part of the organization of lending to the bank on general principles.

Accounting operations include cash services: receiving and issuing cash, charging and debiting funds on the account, making transfers, etc. Currency exchange transactions are related to settlements in foreign currencies, buying and selling currencies. Storage services allow individuals to transfer to the bank for storage of valuables, documents in a bank cell.

Principles of banking services to individuals

In this case, these the rules that banks adhere to when servicing individuals: