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New Zealand Banks
Welcome To New
Zealand's #1 Bank Information Website, here you can find
all the top Banking companies In NZ. If you
or your business would like to be included on this website
please feel free to contact us, also if you have any questions
about the products and services feel free to send us an email. |
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A bank is a business that borrows
from its customers on current accounts repayable to its
customers' cheques and collects cheques for its customers'
accounts. Banks may also issue bank notes, and lend money to
customers on current account (called overdraft), accept term
deposits and make term loans and provide other financial
services. Banks that issue notes are called Banks of Issue.
Currently in most jurisdictions the business of banking is
regulated and banks require a licence. Banking licenses are
granted by bank regulatory authorities and provide rights to
conduct the most fundamental banking services such as accepting
deposits and making loans. There are also financial institutions
that provide certain banking services without meeting the legal
definition of a bank, a so called non-banking financial company.
Banks have a long history, and have influenced economies and
politics for centuries.
The word bank is derived from the Italian banca, which is
derived from a Germanic language and means bench. The terms
bankrupt and "broke" are similarly derived from banca rotta,
which refers to an out-of-business bank, having its bench
physically broken. Money lenders in Northern Italy originally
did business in open areas, or big open rooms, with each lender
working from his own bench or table.
Traditionally, a bank generates profits from transaction fees on
financial services and from the interest it charges for lending.
In recent history, with historically low interest rates limiting
banks' ability to earn money by lending deposited funds, much of
a bank's income is provided by overdraft fees and riskier
investments.
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Although the type of
services offered by a bank depends upon the type of
bank and the country, services provided usually
include:
Taking deposits from their customers and issuing
checking and savings accounts to individuals and
businesses. Extending loans to individuals and
businesses
Cashing cheques. Facilitating money transactions
such as wire transfers and cashiers checks. Issuing
credit cards, ATM cards, and debit cards .Storing
valuables, particularly in a safe deposit box.
Financial transactions can be performed through
several different channels:
In person at a counter, wicket, or an office, ATM,
Mail, Telephone, Internet. |
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