Banking

The foreign exchange market (currency, forex, or FX) market is where currency trading takes place. It is where banks and other official institutions facilitate the buying and selling of foreign currencies. FX transactions typically involve one party purchasing a quantity of one currency in exchange for paying a quantity of another. The foreign exchange market that we see today started evolving during the 1970s when worldover countries gradually switched to floating exchange rate from their erstwhile exchange rate regime, which remained fixed as per the Bretton Woods system till 1971.

Now, the FX market is one of the largest and most liquid financial markets in the world, and includes trading between large banks, central banks, currency speculators, corporations, governments, and other institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. Traditional daily turnover was reported to be over US$3.2 trillion in April 2007 by the Bank for International Settlements. Since then, the market has continued to grow. According to Euromoney's annual FX Poll, volumes grew a further 41% between 2007 and 2008.

Internet Banking –
Do More With Your Money

Learn about Internet Banking
For brief overviews, select one of the Tell Me About slide shows above, or choose one of the links below:

* Internet Banking details the benefits of banking online.
* Security explains how your account information is kept safe.
* Bill Pay describes how to easily and safely pay bills online.

Want more details on how to use Internet Banking? Choose a question from the How Do I menu, or view one of the Sample Screens on the right.

Do More With Your Money
Enroll Now for Free U.S. Bank Internet Banking

Do More With Your Time
Access account information from wherever you are with U.S. Bank Mobile Banking. Get details

Save time and money with Free Internet Bill Pay!

Internet Bill Pay lets you quickly and securely pay all of your bills online, in one convenient place. Our Risk-Free Guarantee ensures every bill is paid correctly and on time. Once you are logged in to Internet Banking, select the Bill Pay link to get started.

U.S. Bank is participating in the FDIC's Transaction Account Guarantee Program.
Learn More.

Financial institutions provide service as intermediaries of the capital and debt markets. They are responsible for transferring funds from investors to companies, in need of those funds. The presence of financial institutions facilitate the flow of money through the economy. To do so, savings are pooled to mitigate the risk brought to provide funds for loans. Such is the primary means for depository institutions to develop revenue. Should the become inverse, firms in this arena will offer additional fee-generating services including securities underwriting, and prime brokerage.

In financial economics, a financial institution acts as an agent that provides financial services for its clients or members. Financial institutions generally fall under financial regulation from a government authority. Common types of financial institutions include banks, building societies, credit unions, stock brokerages, asset management firms, and similar businesses.