Bank Account

A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded.

Each bank sets the terms and conditions for each type of account it offers, which are classified into commonly understood types, credit card accounts, current accounts, loan accounts or many other types of accounts.

A customer may have more than one account. Funds can be deposited and withdrawn from the account holders.

Usually, bank accounts are regulated at the country level, usually by the Central Banks of the country in which the account is held. The criteria to open accounts in one country may differ from that of another country.