Money Basics
Banking Options
What is a bank?
A bank is an organization that receives deposits, honors checks drawn on those deposits, and pays interest on them. Banks also make loans and invest in securities.
A bank account helps you protect and manage your money. Banks offer three main types of accounts: checking, savings and combination accounts. Such accounts allow you to write checks to pay bills or buy products, help you save money for the future, and assist you in building a credit record. You'll learn more about different bank accounts later in this lesson.
