Retail Banking Institute (2024)

FAQs

What is the best certificate for retail banking? ›

Retail bankers can generally expect to earn solid salaries and receive good benefits. With entry- and mid-level positions, salaries are sometimes lower than other banking positions, such as business banking and private wealth management.

Retail banking, also known as consumer banking or personal banking, is banking that provides financial services to individual consumers rather than businesses. Retail banking is a way for individual consumers to manage their money, have access to credit, and deposit their funds in a secure manner.

Customers can visit the branch to manage their accounts, apply for loans, make deposits, and withdraw cash. On the other hand, retail banking is more focused on providing basic banking services, such as savings accounts, checking accounts, ATM services, and credit cards. 2.

Along with savings accounts and money market accounts, CDs are some of the safest places to keep your money. That's because money held in a CD is insured. So long as you purchase your CD account through an FDIC-insured bank, you're covered in case the bank shuts down or goes out of business.

As of Apr 21, 2024, the average hourly pay for a Retail Personal Banker in the United States is $17.20 an hour.

Sometimes, a retail banker may also serve as a teller. Some banks employ tellers apart from personal bankers, as these professionals perform the responsibilities of a banking advisor, such as handling loan applications. Tellers account for the majority of retail banking positions.

Banks make money by imposing service charges on their customers. These fees vary based on the products, ranging from account fees (monthly maintenance charges, minimum balance fees, overdraft fees, and non-sufficient funds [NSF] charges), safe deposit box fees, and late fees.

Is Wells Fargo a retail bank? ›

Wells Fargo & Co (WFC) is a diversified financial service holding company that offers retail and wholesale banking, and wealth management services to individuals, businesses, high-net-worth individuals, and institutions, through its subsidiaries.

In 1979, the financial health of the thrift industry was again challenged by a return of high interest rates and inflation, sparked this time by a doubling of oil prices and exacerbated by dwindling resources of the Federal Savings and Loan Insurance Corporation (FSLIC).

The retail banking products include checking accounts, credit cards, savings accounts, mortgages, debit cards, home equity loans, CDs, and personal loans.

Retail banking, also called personal banking or consumer banking, is financial services geared toward individual customers rather than large corporations. Retail banks offer products like savings accounts and debit cards to the general public, and working in retail banking requires high levels of customer service.

Established in 2000 by the WAFC, the Retail Management Certificate is an accredited business program that provides associates with the necessary skills to become successful managers and leaders in the retail industry.

Retail Management Certificate of Achievement

This certificate prepares both longtime workers and those just starting out in the retail industry to advance in their career paths. Take classes in retail management, business management, marketing, accounting, communications, human relations, and more.