What does bank mean?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free! The meaning of BANK is a mound, pile, or ridge raised above the surrounding level. How to use bank in a sentence. Did you know?

What does a bank do?

A bank is a financial institution that is licensed to accept checking and savings deposits and make loans. Banks also provide related services such as individual retirement accounts (IRAs), certificates of deposit (CDs), currency exchange, and safe deposit boxes.

Is a bank a business?

Simply put, a bank is a business: It uses the money customers put into checking and savings accounts to make loans for individuals and businesses. Banks generally profit off the interest from the loans they make and give a portion back to customers as interest in savings accounts.