Customer Satisfaction Survey at the Royal Bank of Scotland Essay
We express our sincere gratitude to our industry guide Ms.Shalini Menon, Vice-President Business Banking, The Royal Bank of Scotland for her able guidance, continuous support and cooperation throughout our project, without which the present work would not have been possible.
We would also like to thank the entire team of RBS business banking, for the constant support and help in the successful completion of my project.
Also, we are thankful to our faculty guide Mr. Swarnpreet Singh of our institute, for his continued guidance and invaluable encouragement.
TABLE OF CONTENTS Introduction * Objective Literature Review * …show more content…
Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment methods such as telegraphic transfer, EFTPOS, and ATM.
Banks borrow money by accepting funds deposited on current accounts, by accepting term deposits, and by issuing debt securities such as banknotes and bonds. Banks lend money by making advances to customers on current accounts, by making installment loans, and by investing in marketable debt securities and other forms of money lending.
Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments. Non-banks that provide payment services such as remittance companies are not normally considered an adequate substitute for having a bank account.
Banks borrow most funds from households and non-financial businesses, and lend most funds to households and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and money market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate substitute to banks for lending savings too.
ECONOMIC FUNCTION OF THE