Retail Banking Courses, Students, Modules, Pros and Cons

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Retail banking refers to bricks-and-mortar banking, which serves local walk-in clientele in communities worldwide. Retail banking is just one of the many types of banking courses and is ideally suited for people who seek an exciting and rewarding career, a course in banking is often the first step. Job candidates often consider studying banking by enrolling in a retail banking course.

Retail Banking Students

Retail banking courses generally teach the concepts and practices of lending along with the concepts of bank branch management (BBM) and other skills such as bank teller practices, which are all necessary for a banking career focused on retail banking.

Bankers who work in a bank’s retail branches meet many interesting people during their workdays. Since almost everyone needs banking services, retail bankers are usually people who enjoy meeting the public and helping clients with basic financial services.

Students are often motivated to enter the banking profession because of the high-paying jobs in financial services in general. Although pay for newbie tellers is usually fairly modest, job candidates who have completed a course in banking may earn substantially more money. And, for graduates of banking courses there are many opportunities for advancement as bank branch managers, who are the best paid of all retail bankers, often earning mid-to-high six-figure incomes.

Retail Banking Course Modules

Those who wish to enter this niche of the banking profession must first complete an appropriate banking course. In a good retail banking course, students learn about the following topics:

  • Types of retail loans, including car loans, appliance loans, and other consumer-credit products – home loans, including the most common types of real estate mortgage loans such as fixed-rate mortgages and Government loan programs;
  • Basic loan application and underwriting processes, which include the tasks of gathering and verifying loan documentation of all kinds;
  • Other types of retail banking services, such as notary and trust office services, and other financial-service and investment products;
  • Teller practices, since tellers are the retail bank’s critical interface with the public and are primarily responsible for receiving, disbursing, and accounting for all cash and negotiable instruments during the business day;
  • Fraud prevention and security, which are fundamental for a retail bank’s successful operation.

Because retail banks are widely found in every community, there are many different courses available. Banking courses are available both in bricks-and-mortar schools and through online education courses in banking.

Pros and Cons of Studying Retail Banking

The advantages of studying retail banking at a bricks-and-mortar school are access to physical facilities such as libraries and classrooms, and the availability of face-to-face contact. The disadvantages of bricks-and-mortar retail banking courses are the generally-higher tuition fees and the inflexibility of scheduling, whereas the advantages of online banking courses are their great flexibility and low costs, although most online schools do not offer a physical presence.

In closing, it can be said that courses in retail banking and bank branch management (BBM) are widely available through many different schools and institutions, both bricks-and-mortar and online education. Motivated students who seek a rewarding retail banking career should enter an appropriate banking course as the first step toward achieving their career goals.

One Response to “Retail Banking Courses, Students, Modules, Pros and Cons”

  1. […] challenges and complex business issues. Commercial banking involves less public contact than, say, retail banking, and more concentration on the “numbers” of a particular deal. Those who are drawn to jobs in […]

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