Which type of account is typically offered by commercial banks?

Commercial banks primarily focus on providing financial services to the general public and businesses, making checking and savings accounts their most common offerings. These accounts enable customers to manage their everyday financial needs, such as deposits, withdrawals, and money management.

Checking accounts are designed for frequent transactions, allowing account holders to write checks, use debit cards, and make electronic transfers. Savings accounts, on the other hand, are intended for saving money and usually offer interest on the deposited funds, promoting saving behavior among consumers.

While other types of accounts, such as cryptocurrency or investment management accounts, can be found at various financial institutions, they are not hallmark offerings of commercial banks. Retirement accounts, while common in brokerage firms and specialized financial institutions, also do not represent the core services of commercial banks. Therefore, checking and savings accounts are the foundational products you will typically find at commercial banks, making them the correct choice.