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However, commercial banks also refer to a division of banks which primarily deals with deposits and loans from large businesses and corporations.
Basically the term commercial bank refers to normal banks so that we can distinguish the bank from an investment bank. So, a commercial bank will be a financial institution which accepts deposits, makes business loans and offers an array of related services. In addition, you can also open different types of deposit accounts in a commercial bank. For example, checking account, savings account and time deposit.
Commercial banks are profit oriented institutions and are usually owned by a group of individuals and some of them are members of the Federal Reserve System. Although commercial banks offer a variety of services to individuals, their prime interest lies in receiving deposits and lending to businesses.
So, when we ask what are commercial bank, we can respond saying that commercial banks are financial institution that engage in the following activities:
- Processing payments
- Issuing checks and bank drafts
- Accepting term deposits
- Lending money via loans or overdrafts
- Providing documentary and standby letter of credit, guarantees, performance bonds, securities underwriting commitments and forms of balance sheet
- Safekeeping documents and other valuables by giving safe deposit boxes
- Currency exchange
- Selling, distributing or brokering insurance, unit trusts and other similar financial products
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Arizona banking hours are usually from 9.00 a.m. to 5.00 p.m. Monday through Friday. However, many banks have understood the need to be open even beyond office hours and at the weekends. Therefore, Arizona banking hours are bank specific depending on the clientele they are serving. 
