Final answer:
The statement is false as banks offer a wide range of services beyond just making loans and accepting deposits, including various account types, borrowing from other institutions, and making investments.
Step-by-step explanation:
The statement that the biggest difference between banks and nonbanks is that nonbanks do not offer any other services other than making loans and collecting deposits is false. Banks serve as financial intermediaries, standing between savers and borrowers. Savers deposit money in banks, earning interest payments, and have the ability to withdraw funds. Conversely, borrowers obtain loans from banks and repay these with interest. Additionally, banks offer a variety of accounts to cater to different customer needs, such as checking accounts, which might pay little or no interest. Beyond this, banks also generate income by borrowing from other banks or central banks, and they can invest in various financial instruments like stocks and bonds to earn higher returns.