31 Jul 2022

What is the difference between bank and banking?

Bank vs Banking

There is a large and surprising difference between the word ‘bank’ and the phrase ‘ banking. If you want to go to a bank, you can enter the doors and speak to someone. This is a physical location. Some banks do all of their baking services online, but they are still an institution. However, if you are discussing the word ‘banking’, then this word relates to the services that a bank can provide members and clients.

Not all banks offer the same services or the same quality of service. Before taking a huge leap and choosing a bank for life, ‌focus on looking at reviews and fees associated with banking institutes near you.

When do you think of banking services? Which services matter to you? Most banks offer banking services like deposits, payments, opening a savings account, and loans and credit facilities. You can easily open a debit and a credit card with a banking institution once you are a member.

Mortgage House offers loans and credit facilities that can fit exactly what you are looking for. While we are not a bank, we ‌offer similar services like online repayment options and ways to view your overall loan statement.

Bank vs Banking Conclusion

Banks and banking services are not the same things; however, they are closely related. You cannot use banking services or conduct ‘banking’ if you do not belong to a bank. Sometimes, you can do banking at credit unions, which are a type of non-profit financial institution.

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