Unlike banking services and banking operations, a “banking product” is a set of interrelated services and bank operations that includes several parameters: purpose, amount, profitability, tariff, validity period, reliability, compliance with the legislative framework, taxability.

Thus, a comparative analysis of the concepts of "banking service", "banking product", "banking operation", "banking product" allows us to draw the following conclusion:

- banking operation - reflects the technological side of cash flow based on economic, statistical, financial, financial, accounting, information operations and techniques;

- banking product - reflects a parametric set of interrelated services and bank operations that can be identified, standardized, monitored and evaluated

The main parameters of the banking product:

· goal;

· sum;

profitability;

tariff;

· validity;

Reliability

Compliance with the legal framework;

taxability.

A change in the banking product forms an innovation in the banking market.

- banking service - reflects the complex of direct or intermediary functions of the bank with various categories of customers with the effective use of bank capital, attracted and borrowed funds in the interests of developing a market economy and increasing their own income and the income of their clients participating in this process;

-bank goods - reflects a part of banking products and services to be sold to customers in the banking market.

I am sure that it will be interesting and useful for you to read about Woodforest Bank Statement. I wish you good luck