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Regular individuals have retail banks. They may help with underwriting, fundraising, credit or financial advice. Some merchant banks may be affiliated with other retail or investment banks, but this specialized branch of banking does not provide services to the general public. Huge corporations have investment banks.
The world of banking can be broadly divided into: Retail Banks: Think of your local branch where you have your checking and savings accounts. Commercial Banks: These cater to businesses, providing loans, treasury, and cash management services. Morgan, which offer services in underwriting and M&A advisory.
Private banking is a personalized financial and wealth management service provided by banks to high-net-worth individuals (HNWIs). It involves offering exclusive products, tailored advice, and one-on-one attention to help clients manage, grow, and protect their wealth.
The merchant category code list covers a wide range of industries, from retail and dining to travel and professional services. This categorisation enables smooth transaction processing, accurate reporting, and effective riskmanagement. These codes classify merchants based on the types of goods or services they primarily offer.
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