Services offered by commercial banks include accepting bank deposits, giving business and mortgage loans, and offering basic investment products, like a savings account and certificates of deposit. Most commercial banks have physical locations with employees, and many also have ATMs available in locations throughout the country. Commercial banks can also act as brokers for corporations and are the largest source of financing for private capital investments in the country.
People who put their money in commercial banks can garner interest from their deposits and also feel a sense of security. Top commercial banks allow individuals to open accounts free of charge. Commercial banks are also very profit-oriented and offer their customers and business entities loans on large purchases, like mortgages and car loans. Individuals with good credit can borrow the money but have to pay the money back with interest.
Commercial banks give their customers checks, debit cards or credit cards. Customers use these cards to purchase goods and services. Bank customers can also invest their savings in securities for a return. Some top commercial banks include Chase Bank, Bank of America, Wells Fargo and CitiGroup. These commercial banks are leaders in this respective field because they're globally recognized and have great customer service initiatives.