Services which the business can get from bank's

Banks offers several services to businesses.The businesses have to use these services inorder to run and operate their businesses smoothly.The services which the businesses will get from the banks will include the following:

Account opening services where the business will benefit  by opening several accounts at the bank.The business can either open current accounts/transaction accounts,salary accounts or open fix deposit account's. By opening current accounts/transaction accounts,the business will be able to carry out business transactions with ease such as paying for goods/services or even pay for its expenses through the bank accounts.In this case the business will be able to pay the suppliers of goods/services through bank transfer where the business transfers money from its bank account to the suppliers accounts.The expenses which businesses can pay through bank/through bank transfer includes:utility bills such as water bills,electricity bills,telephone bills,rents,taxes,loans and internet connection bills.By opening salary account's,the business will be able to pay salaries to the employees with ease.By opening fixed deposit accounts,the business can deposit extra savings in fixed deposit account so that the deposited money earns fixed interest at the bank account's.

The business can get some services from the bank which will enable the business to do its transactions with ease.This services include check books,mobile banking and internet banking services which will enable the business to do its transaction with ease.Check books are books which are issued by the bank customers,banks can issues check books to businesses inorder for businesses to curry out transaction with ease.The businesses can issues checks to suppliers of goods/services and the suppliers/payees will deposit the check at their own bank account's to receive payments from the bank' accounts.Mobile banking services is when the business can deposit or withdraw money from its own bank account or even pay for goods and services using mobile phones.Internet banking is whereby the business can do transactions by using any electronic device which is connected to the internet.So by getting these transactional services from the bank,the business will be able to transact with ease.

The other services which the business can get from the banks include's credit facilities.Credit facilities includes loans and overdraft services.The business can get loans and overdraft facilities from the banks.Loans is any amount of money which the business borrows from the financial institutions and the business will repay the borrowed amount plus interest to the financial institutions.When the bank offers overdraft facilities to the business then overdrafts simply means that the business will be able to withdraw certain amount of money from its own business accounts when its own business accounts does not have any money at all.So when the business get loans/overdraft services from the bank,the business will be able to finance itself comfortably.

The business can also get financial advices from the banks either freely or banks can charge for this service.By meaning financial services,the bank give the business financial guidance on how to operate their business effectively,the bank can advise the business on when to take loans and similarly the bank can advise the business on how to repay the loans during financial difficulties.Financial difficulties occurred when the business can not repay the loans on time so the bank will give advises to the businesses on how the business will encounter this financial difficulties so that the business will complete to repay the loans.The business can also get auditing services from the bank.In this case the bank can do financial auditing for the business's and the business will pay for this services.Financial auditing include calculating of cash flow accounts,balance sheet and also calculating of profits and loss accounts.So the business can also get this financial auditing services from the bank.

Banks usually allows customers to keep their sensitive documents or precious item at the bank.The bank charges the customers for these services.So the business can keep some of their sensitive documents or precious items at the banks by paying the bank for these services.When the business is not secured enough the business can opt for this service of keeping some of their sensitive documents at the bank.

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