There are various bank sectors that make up our economy. The the banking sector is one of the places that make up the economy. Banks have been in existence for quite some time, and they have been useful to us over the years. The financial institution that mainly deals with cash is what we refer to like the banks. The banks help people to be able to store their cash in the most appropriate way. The banks from this can be seen to have some functions to us all the time. The banks serve us with some of the unique functions from other sectors in the economy.
One of the functions of the banks is that they are custodian of the people’s cash. The banks always store the cash for the people all the time. The bank can be able to do this by the fact that it has a good system which allows people to be able to deposit and withdraw cash at any one given time. The other function is that the bank can issue loans to the clients. Being able to offer cash on credit is one of the key functions of the banks. The the bank is always able to advance some loan to the client provided that the client can get back the money at an agreed period.
The the bank being a business entity also tries to make some profit by being able to get some cash from the loan issued to the clients. The bank can earn some cash since it can get some interest from the cash issued to clients as loans. The bank can be able to make some transactions on behalf of the clients which is also another function of the bank. The bank can be able to get the cash from the account of the client so that it can be able to effect some transaction on behalf of the client. Another key function of the ban is that it can be able to store the valuables on behalf of the client all the time.
Some of the valuable that the bank can keep for a person may include some precious jewel or even some of the documents that may be very crucial to a person. The bank can, therefore, be able to get the best kind of valuable to store for the person until the time that the clients will need to keep them or to claim them. The bank is also in apposition to offer clients with some financial advice all the time. This is especially the case where the person may need the advice to be able to make the right kind of investment decision that he may need. The bank through its qualified people can be able to come up with the relevant advice for the people.