bank

Definition

An organization, usually a corporation, chartered by a state or federal government, which does most or all of the following: receives demand deposits and time deposits, honors instruments drawn on them, and pays interest on them; discounts notes, makes loans, and invests in securities; collects checks, drafts, and notes; certifies depositor's checks; and issues drafts and cashier's checks.

Use bank in a sentence

The future homeowners reached out to their local bank for a mortgage because the couple was not able to afford a house on their own.

​ Was this Helpful? YES  NO 2 out of 2 people found this helpful.

Show more usage examples...

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ABA bank index Euro Interbank Offer Rate (EURIBOR)