Module 11 : Banking Services in the Retail Sector Part III Gold, Safekeeping of Valuables, SIPP/Pension Funds, Payment of Utility Bills and Taxes, etc.

Objectives Gold as foreign exchange, gold ETFs Safety deposit locker facility Payment of council taxes and bills Bacs and CHAPS payments 11.1 Introduction Banks offer a range of services and products to retail customers. These include offering lockers for safekeeping of valuables as well as e-lockers for safekeeping of important documents. Additional services include payment of utilities, taxes, etc. Central banks (like the Bank of England) also buy and store gold res...