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The Fundamental Characteristics of Banks
Manage episode 384993530 series 3530376
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Hello friends and fellow entrepreneurs! Welcome, to Core CPAs and Advisor´s Podcast. One of the institutions that holds some of the most important financial relationships, with any individual and business is a bank. This is because, banks are the organizations licensed to receive deposits and make loans, provide financial services such as wealth management, currency exchange.
The money stored in most bank accounts is federally insured by the Federal Deposit Insurance Corporation (FDIC). While almost every citizen knows the basics of the functions and advantages that a bank provides, as member of an economic environment or owner of a commercial institution, it is important for you to know the specifications that might favor your business and yourself.
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