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.


Related Terms

account -

member bank -  More

money order -  More

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bank is ...

... part of the Banking and Lending & Credit subjects.

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