Banking refers to the financial system and activities involved in accepting deposits from the public, providing loans, and offering various financial services. It encompasses a network of institutions, primarily banks, that play a crucial role in the economy by facilitating transactions, managing risks, and providing access to capital for individuals and businesses. The primary functions of banking include safeguarding deposits, enabling withdrawals and transfers, extending credit to borrowers, and offering investment and wealth management services. Banking can take various forms, including commercial banking, investment banking, and retail banking, each serving different segments of the market. The banking system is regulated by governmental authorities to ensure stability, protect depositors, and maintain public confidence.
Nationwide Building Society’s Fairer Share Payment scheme offers members a potential £100 bonus in June 2025. Eligibility requires an active Nationwide current account and at least £100 in a savings…