commercial bank

Definition |

(50)

An institution which accepts deposits, makes business loans, and offers related services. Commercial banks also allow for a variety of deposit accounts, such as checking, savings, and time deposit. These institutions are run to make a profit and owned by a group of individuals, yet some may be members of the Federal Reserve System. While commercial banks offer services to individuals, they are primarily concerned with receiving deposits and lending to businesses.

Use commercial bank in a sentence

They were a very good commercial bank and I would use them all the time for all of my banking needs.

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My boss asked me to open a new checking account for our Las Vegas division by going to the Las Vegas branch of the commercial bank our company routinely used.

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Alice loves utilizing the many features offered by the local branch of her commercial bank, including free ATM withdrawals, direct deposit of her paycheck into her savings account, and the easy application process for home-improvement loans.

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