Introduction To Banking, UK Bank Accounts

Since the dawn of time, in order to be profitable, the primary function of banks, including UK banks, has been two-fold: (a) to receive deposits; and (b) to advance credit. Over time, what has evolved is not a change in the fundamental nature of this two-fold function, but the manner in which such service is provided. As such, even today, typically UK banking services and products can be broken-down into these two principal functions.

A. RECEIVING DEPOSITS

B. ADVANCING CREDIT

 

Nowadays bank have moved into other areas involving finance, worth a mention:

 

C. OTHER BANKING SERVICES

 

The world of banking and bank accounts has grown to a massive industry, what started as a basic to store and protect peoples money has become a fundamental part of the western and eastern societies. This site aims to provide a few basics of the history of banking, a brief description of current accounts, savings accounts, offshore accounts, investment accounts and the overall fundamentals of the money markets, one of the functions that makes it all possible.

 

 

Useful Related Sites:

UK Bank of England - Information on UK Banking from the Bank of England

FSA - Financial Services Authority - Help and advice on money matters.

FSF - The Financial Stability Forum (FSF) brings together senior representatives of national financial authorities

BANKING CODE STANDARDS BOARD - The mission of the BCSB is to ensure that the Banking Code and the Business Banking Code deliver their promises of fair dealing and standards of good banking practice to the customers of UK banks and building societies.

References - Reference Sites