bank account

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bank account

He deposits a check into his bank account at the counter.

Definition
  1. Noun:
    • A financial account held by a customer at a bank or other financial institution. It is a record of the funds the customer has deposited, which can be added to or withdrawn from according to the agreed terms.
Usage
  • A bank account is used to securely store money, make and receive payments (e.g., via checks, debit cards, or electronic transfers), and often to earn interest on deposits.
  • Common types include checking accounts (for everyday transactions) and savings accounts (for storing money and earning interest).
  • You typically need identification to open a bank account.
Examples
  • "I need to check the balance in my bank account before I can pay that bill."
  • "Her salary is paid directly into her bank account every month."
  • "To apply for the loan, you must provide statements from your bank account for the last six months."
Advanced Usage
  • "to have an account at/with a bank": This is a common way to state where one's bank account is held.
    • She has an account with a major national bank.
  • "to hold a joint account": Refers to a bank account owned by two or more people.
    • The couple holds a joint account for their household expenses.
Variants and Related Words
  • Checking Account (US) / Current Account (UK) (n): A type of bank account designed for frequent transactions, often with a checkbook and debit card.
  • Savings Account (n): A type of bank account meant for depositing money to save, typically earning interest.
  • Account Holder (n): The person or entity in whose name the bank account is registered.
Synonyms
  • Financial account: A more general term for any account holding monetary assets.
  • Deposit account: Emphasizes the aspect of placing funds with the bank.
Related Phrases
  • Open a bank account: The process of establishing a new account with a bank.
    • You must be 18 years old to open a bank account on your own.
  • Close a bank account: The process of terminating an account and withdrawing all funds.
    • We decided to close our bank account after moving to a different country.
  • Bank account number: The unique code that identifies a specific account at a bank.
    • You will need your bank account number to set up the direct deposit.
bank account

He deposits a check into his bank account at the counter.

Noun
  1. a fund that a customer has entrusted to a bank and from which the customer can make withdrawals
    • he moved his bank account to a new bank