More Information about Banks & Building Societies
The modern concept of banking first arose from 14th century Italian cities such as florence, although lending money is a concept which dates well back to ancient times. We've all heard of banks, we use them every single day to deposit our savings and salaries, to pay our bills and mortgage and to take out credit. But how do banks work? Essentially, a bank is an intermediate financial service which takes your deposits and channels them through lending programs, either as loans to other customers or through investment and stock trading, often indirect via an investment banking arm or hedge funds. One of the main services, used by most people, is the current account. This allows the customer to pay in their salaries and deduct outgoing such as bills and mortgage payments, meaning your money is easy to manage. One of the best way to manage your money is using online banking services provided by your bank.