Webnoun (1) Definition of bank 1 as in cluster a number of things considered as a unit a bank of telephones set up for the telethon Synonyms & Similar Words Relevance cluster batch collection group array battery bunch set assemblage grouping package lot constellation block band suite clump parcel assortment variety clutch series accumulation clot knot Webbank. n. 1) an officially chartered institution empowered to receive deposits, make loans, and provide checking and savings account services, all at a profit. In the United States banks must be organized under strict requirements by either the Federal or a state government. Banks receive funds for loans from the Federal Reserve System provided ...
Bank legal definition of Bank - TheFreeDictionary.com
WebDec 7, 2024 · A bank guarantee is an assurance that a bank provides to a contract between two external parties, a buyer and a seller, or in relation to the guarantee, an applicant and a beneficiary. The bank guarantee serves as a risk management tool for the beneficiary, as the bank assumes liability for completion of the contract should the buyer default on ... WebAny and all persons designated and authorized to transact business on behalf of an account. Each account holder's signature needs to be on file with the bank. The signature authorizes that person to conduct business on behalf of the account. meshed system
Bank Definition & Meaning Dictionary.co…
WebMar 21, 2024 · A bank is an institution where people or businesses can keep their money. Students should look to see which bank offers them the service that best suits their financial needs. Synonyms: financial institution, building society, merchant bank, repository More Synonyms of bank 2. countable noun A bank is a building where a bank offers its services. WebJan 29, 2024 · Banks are designed to give people a safe place to store their money and earn a small amount of interest. To provide this service without charging you, a bank uses a portion of your deposits to loan money to other customers and profit off the interest. WebBanking is directly or indirectly connected with the trade of a country and the life of each individual. It is an industry that manages credit, cash, and other financial transactions. In … meshed together