Bank account

Bank accounts are financial accounts kept by banks or other financial institutions in which financial transactions between a bank and a client are documented, such as those between the bank and its customers. For each type of account that a financial institution offers, the terms and conditions are set by the institution itself. Accounts are classified into categories that are commonly understood by the public, such as deposit accounts, credit cards, current accounts, loans, and a variety of other types of account. It is possible for a client to have many accounts. The money committed by the client to the financial institution on deposit are recorded in the account specified by the customer as soon as an account is created and funds are deposited. It is possible to withdraw funds from loan loaders.

The financial activities that have happened on a bank account during a certain period of time are reported to the client on a bank statement, and the balance of a customer's accounts at any particular moment in time represents their financial status with the institution at that time.