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Retail banks represent one of the oldest forms of banking and the entire financial industry. Quite literally, the retail banking sector is represented by the national high street banks, that are used by the everyday public.
High street banks are multi-billion pound industries and most of the public invest their money in them. Individual customers use local branches of larger commercial banks, offering services such as savings and checking accounts, mortgages, personal loans, debit/credit cards and certificates of deposit (CDs).
Roles within banks are principally split into three:
In all cases the banking world at high street level is extremely competitive and the choice for the customer is vast. Being able to be different from the rest, usually by offering better deals, can see some banks thrive whilst others fail.