BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
True or False:A banking facility that is not the bank’s main location is called a branch.
A
True
B
False
Explanation: 

Detailed explanation-1: -A bank branch is a physical location of a banking corporation, such as Chase, Bank of America or Wells Fargo. These buildings are technically referred to as “brick-and-mortar” branches, and they provide face-to-face service for customers of a bank.

Detailed explanation-2: -Branch banking is the operation of storefront locations away from the institution’s home office for the convenience of customers. Since the 1980s, branch banking in the U.S. has gone through significant changes in response to a more competitive and consolidated financial services market.

Detailed explanation-3: -Facilities are financial assistance programs offered by banks and lending institutions to help companies. The main types of facilities are overdraft services, business lines of credit, term loans, and letters of credit.

Detailed explanation-4: -Meaning:paw; extension. For the newest addition to your family tree, it doesn’t get much more literal than this. This Latin boy’s name means “paw; extension, ” showing how baby will grow into his own person while still being a part of your family.

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