Traditional Banking

Traditional banking refers to the system of financial institutions that offer services such as accepting deposits, providing loans, and facilitating transactions. These banks operate through physical branches where customers can manage their accounts, withdraw cash, and consult with bank staff. They play a crucial role in the economy by helping individuals save money, enabling businesses to borrow funds for growth, and facilitating payments between parties. Traditional banks earn money primarily from the interest on loans and various fees, while ensuring the safety and security of customers' deposits through regulations and insurance.