Which product is commonly found in retail banking?

Checking accounts are a fundamental product offered by retail banks, serving as a primary means for customers to manage their everyday finances. They allow individuals to deposit and withdraw money, write checks, and sometimes earn interest. These accounts are designed for daily use, accommodating transactions such as payroll deposits, bill payments, and ATM withdrawals. The accessibility and convenience of checking accounts make them a staple offering in retail banking, appealing to a wide range of customers.

On the other hand, while investment accounts, credit cards, and retirement accounts are also provided by retail banks, they are often considered more specialized products. Investment accounts typically cater to customers looking to grow wealth through market investments, credit cards, although widely used, can involve annual fees that may deter some users, and retirement accounts are specifically aimed at long-term savings and investment for the future, making them less common in day-to-day banking than checking accounts.