Wholesale banking is frequently defined as banking services which are provided between merchant banks and other monetary institutions. Although, wholesale banking is also a word referred to the wide variety of monetary services that are provided by monetary institutions to various corporations and businesses as well as the government. Wholesale banking and retail banking are two different things. Banking for wholesale focuses more on high-value transactions and corporate style entities, while retail banking focuses on individual consumers and sometimes small companies. Sometimes a bank will engage in both retail and wholesale banking.
Banking for wholesale provides the regular banking services such as checking and savings, safe deposit boxes, certificates of deposit, annuities, retirement funds and other investment opportunities. There are lots of packages to select from at a wholesale banking company.
Banking for wholesale includes providing a big range of services to big corporations, mid-size businesses and small companies. These services are frequently offered at a discounted price based on the number of services included in the package. This approach makes it more attractive for a business to place all their monetary matters with a single institution rather than spreading them out into different agencies and banks for each banking service that the company needs in order to function.
Real estate agents and real estate developers in addition to market investors and others that operated by purchasing and selling properties or other types of investments use wholesale banking. The advantage of wholesale banking in this application is the ease of access to the total monetary portfolio, which makes transfers and transactions between accounts much easier. Wholesale banking also has traits that allow for efficient transfers of stock ownership, funds and other monetary instruments between monetary institutions.
Banking for wholesale packages that are extended to government entities and businesses can include a range of other monetary services as well. Discounted interest rates are normally included as part of the incentive package for entering into a wholesale monetary arrangement.
Many of the bigger banks are actually wholesale banks that don't only deal with governments and large corporations but also deal with regular people. You might own a small company and want to do business with the wholesale banker, but don't know where to locate one. You can ask your real estate representative who helped you find your trade location if she or he knows of a good wholesale bank or you can look in the local telephone book or via the internet and find several wholesale banks willing to do business with your small industry.
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