The Page Bank Acount

The bank acount is a financial acount with many banking institutions recording financial transactions between the customer and the bank and the resulting financial position of the customer with the bank. Bank acounts may have a positive or credit balance where the bank owes money to the customer; or a negative or debit balance where the customer owes the bank money.

Broadly, acounts opened with the purpose of holding credit balances are referred to as deposit acounts; whilst acounts opened with the purpose of holding debit balances are referred to as loan acounts.

Some acounts are defined by their function rather than nature of the balance they hold. bank acounts designed to process large numbers of transactions may offer credit and debit facilities and therefore do not sit easily with a polarised definition. These transactional acounts are called by different names in different countries: in the U.S. & Canada, they are checking acounts, in the UK current acounts.

Other acount types * Savings acount * Transactional acount * Low-cost acount * Time deposit / Certificate of deposit
* Numbered bank acount * Negotiable Order of Withdrawal acount * Automatic transfer service acount * Money market deposit acount * Individual Savings acount * Tax-Exempt Special Savings acount * Transaction deposit * Nostro and Vostro acount * Joint acount * ATM