When we have a surplus or if we want to get funds for our small business, we always take help from banks. Banking is important as it allows Deposit Mobilization, Creation of credit, innovative services, and protection of our funds. One such bank that solves all our purposes like remittance facilities, and channelizes our funds into productive investments is Bank of America.
Bank of America is now partly owned by the United States of America which allows the bank to lend money which in turn helps the entire economy of the country.
Bank of America follows values like delivering together and acting responsibly which has gained the trust of the people of the country and all over the world.
Products of the Bank of America
This bank’s headquarters is in Charlotte, North Carolina, and is efficiently working towards providing top quality Asset Management, credit cards, commodities, insurance, mortgage loans, mutual funds, wealth management, risk management, equities trading, private equity, banking, business loans, privacy-related products, pension funds, etc.
Bank of America thus brings economic stability that facilitates trade using money transfer techniques where our savings are turned into investments. This bank is proficient while creating money and ensuring liquidity.
Bank of America accepts the deposits which give a shield granting advances. It helps the customer to create fixed deposits, current deposits, saving deposits, and recurring deposits; online and offline both.
Services of Bank of America
Bank of America’s services revolve around commercial banking investment banking and wealth management. It helps customers with small businesses by lending them money to grow their business, auto loans, home loans, student banking, and many more. Bank of America is playing an important role while offering finances to the businesses that wish to invest and expand. With a collection of checks portfolio management periodic payments project reports social welfare programs etc.; Bank of America is growing its horizon to walk towards the welfare of the country. With banking acts and reforms Bank of is determining the quantity and quality of money in the economy.
Conclusion
Hence, we can say that with access 2 credit and wealth creation; Bank of America can establish a link between customers and banks by providing them business livelihood housing loans savings, and investments based on household-level and risk perception and consumption loans. Bank of America always works towards contingency planning as well where it provides products and services like buffer savings retirement savings and insurable contingency. While considering all these points Bank of America has created more turmoil in the economy than any other kind of firm. This in return has objectified the bank’s mission to minimize the possibility of any failure of any kind.
Bank of America can generate revenues with quite a high percentage and has been able to expand organically in different cities of America.
It has made its presence seen not just to the customers and market but to the world as well. It has really fulfilled its Motto of “life’s better when we are connected”.