A bank account is a financial account maintained by a financial institution for a customer. A bank account can be a deposit account, a credit card account, or any other type of account offered by a financial institution, and represents the funds that a customer has entrusted to the financial institution and from which the customer can make withdrawals. Alternatively, accounts may be loan accounts in which case the customer owes money to the financial institution.
The financial transactions which have occurred within a given period of time on a bank account are reported to the customer on a bank statement and the balance of the accounts at any point in time is the financial position of the customer with the institution.
The laws of each country specify the manner in which accounts may be opened and operated. They may specify, for example, who may open an account, how the signatories can identify themselves, deposit and withdrawal limits and many other matters.
Longman Dictionary of Contemporary English
n. 1 a fund deposited by a customer (the depositor) in a bank from which they can make withdrawals 2 the formal relationship established between the depositor and the bank 3 a statement summarizing credit and debit transactions with the account
n. a fund that a customer has entrusted to a bank and from which they can make withdrawals; "he moved his bank account to a new bank"
Usage examples of "bank account".
Can you arrange to have Chessingham's bank account checked, a monitoring watch kept on all incoming and outgoing mail, a check made with local authorities to see whether a driving licence has ever been issued in his name, a check made with the army unit in which he did his National Service to see if he ever drove a vehicle and, finally, a check on all the local money-lenders to see if Chessingham's on their books.
How about photostats of arrangements for payments into a French bank account of a very important Vietnamese lady and gentleman for specific favors granted?
Don't expect me ever to accept your bank account, if it does exist.
I'll fly to Brussels tomorrow and open a new bank account somewhere in Belgium.
How about photostats of arrangements for payments into a French bank account of a very important Vietnamese lady and gentleman-for specific favors granted?
Finn wasn't certain how the tentacles of community property might reach a secret bank account in the Bahamas, but he had no plans to find out.