Your financial institution can’t help you if there is a mistake on your bank account statement ? True or false

Question:- Your financial institution can’t help you if there is a mistake on your bank account statement ? True or false

Answer – False.

Financial institution is considered to be the establishment which conducts the financial transactions like the loans, investments and deposits. The institutions play an important role within the economy based on the activities that are performed by them based on channeling the funds from the savers towards the borrowers, facilitating proper allocation of the resources and providing support to the overall economic growth and the over development of different countries. The major financial institutions that can support the individuals include the credit unions, banks, investment firms and the insurance companies. The financial institutions provide appropriate support to the individuals who live within an economy where the organizations and individuals require constant financial support. Financial institutions are considered to be important as provide assets and money in the marketplace so that the resources can be used efficiently whenever they are needed. The banks mainly receive deposits from the customers and these are further provided to the borrowers. Financial services are provided to the clients by different financial institutions and they play a crucial economic part based on facilitating the monetary transactions, making investments, managing the risks and lending. The role of intermediaries is mainly played by the financial institutions between the borrowers and the savers as they aim at mobilizing the savings and effectively channeling them into the productive investments which can foster the financial stability and economic growth levels. The issues that can be faced by the customers after they have made a mistake on their bank account statements can thereby be properly solved by the financial institutions as they have proper departments that provide customer services. The institutions can also assist the individuals with the various discrepancies that are found within the account statements.