Different Types of Banks

High Street Banks and Building Societies
High Street banks and building societies are commercial banking businesses whose primary market is consumer finance. These are the most common banks you will encounter.

Investment Banks
An investment bank is a financial company, securities firm or brokerage house that purchases new issues of securities from private corporations and offers them to their clients. They form a syndicate in order to sell these securities to their customers and the general public.

Private Banks
Private Banks typically provide a more personal and customised set of services than high street banks. Marketed to individuals with large incomes or high personal wealth, opening a private bank account usually requires a very large minimum deposit.

Online-Only Banks
Online-only banks offer the same services as traditional High Street banks or building societies through electronic banking and the Internet. They normally do not have branches for their clients to use. Besides online-only banks however, a number of High Street banks also offer online services.