1. deposit: banks accept deposits from individuals and enterprises and provide depositors with various services such as deposit, savings and settlement. Through deposit, individuals and enterprises can safely deposit idle funds in banks and enjoy certain interest income.
2. Loans: Banks provide loan services by providing financial support to meet the financing needs of individuals and enterprises. Loans can be used for personal consumption, business development, purchase of real estate, etc.
3. Draft: Banks can issue and accept draft as agents to provide bill business services for customers. Bill of exchange is a kind of credit certificate, which is widely used for payment and settlement in domestic and international trade.
4. Letter of Credit: Banks provide credit guarantee and payment agency services for international trade by opening letters of credit. Letter of credit is a common payment method in international trade, which can guarantee the rights and interests of buyers and sellers and the smooth progress of transactions.
5. Foreign exchange: banks act as participants and traders in the foreign exchange market in transnational economic transactions. Banks can provide foreign exchange, foreign exchange financing, foreign exchange risk management and other services to meet the foreign exchange needs of individuals and enterprises.
In short, the five-piece set of banks refers to the core functions of banks in economic and financial activities, including deposits, loans, drafts, letters of credit and foreign exchange. These functions make banks an indispensable part of the financial system and support the development and operation of the economy.