banking

What is a bank?

 

What is a bank?

The Bankrate.com financial term of the day is: "Bank."

A bank is a money intermediary, taking it in as deposits and sending it back out in the form of loans. Outgoing withdrawals, incoming loan payments, and interest charged and paid out are all part of the equation, too. A bank must be officially chartered by a government agency and meet various regulations.

What is a bank? An institution that safeguards money for people who have it and lends money out to people who need it.

To find the perfect bank account, visit the Checking & Savings section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

BMW recalls 574,000 cars in US

BMW has issued a recall of 574,000 of its 2000-2006 BMW 3 Series cars to replace the passenger-side front air bag.  ... Read more


Connect with us