What does banking mean?

Get a quick, free translation! BANKING definition: 1. the business of operating a bank: 2. the activity of managing the money in your bank accounts…. Learn more.

Why is banking a business?

Banking is the business of protecting money for others. Banks lend this money, generating interest that creates profits for the bank and its customers. A bank is a financial institution licensed to accept deposits and make loans. But they may also perform other financial services.

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.