What do banks do?
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What sets high street banks apart from other businesses is the way they work with money.
High-street banks are not that different from any other business. What sets them apart is that they work with money: looking after it, lending it, and helping you pay for things with it.
Banks look after your money
Keeping small amounts of money in your pocket to pay for things makes sense. But holding larger amounts is risky as there is a chance your money could get lost or stolen.
Banks make sure your money is kept safe – and have served this role since ancient Greek and Roman times.
Many banks today offer free safekeeping services, with no charge for using your current account. In return, they are able to use the money stored with them to earn a profit, by lending it to other people.
We make sure banks operate in a safe and sound way so that your money is there when you need it. And should the worst happen and your bank fails, you could claim up to £85,000 of your money back through the Fi...
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