In the modern banking landscape, banks offer various subsidiary services beyond traditional functions. They manage customer transactions, facilitate foreign currency exchanges, issue traveller's cheques, and provide letters of credit for international trade. Banks also offer demand drafts for secure money transfers, underwrite shares for new companies, and furnish credit information about clients. These services enhance customer convenience and foster strong relationships between banks and their clients.
(1) What subsidiary services do banks provide?
(2) How do banks assist with foreign currency transactions?
(3) What is the purpose of a traveller's cheque?