Bank Account

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Bank Account

An agreement between a bank and a person or institution, whereby the bank agrees to hold money and/or other assets on behalf of the other party. What the holder may do with those assets depends upon the nature of the account. In a checking account or a savings account, the bank holds money and pays the client a certain percentage in interest. This payment gives the bank the right to lend the money to other clients or invest it within the confines of law and banking regulations. However, the client has the right to withdraw the total amount of money on demand.
References in periodicals archive ?
Asked if personalities from the political opposition can examine Duterte's bank accounts, Roque replied: 'He said anyone could look at his bank accounts to confirm that they do not contain more than P40 million.
ISLAMABAD -- A parliamentary committee on Tuesday expressed displeasure over the opening of bank account of former finance minister Ishaq Dar in the National Bank of Pakistan by saying how the NBP is opening bank account of an absconder and a proclaimed offender.
However, many of us are not aware of the fact that there is another investment service, Flexi Bank Account, which comes with better options and is inter-linked with saving and fixed deposit account.
The JIT members finalised the inquiry report declaring that no bank accounts of the prime suspect in the Zainab murder case were found in commercial banks in any part of the province,' Mr Malik told the reporters.
Shahid Masood had alleged that Imran Ali, the main accused in the Zainab murder case, had dozens of bank accounts.
The nine banking groups offering basic bank accounts are Barclays, Clydesdale and Yorkshire Bank, Co-operative Bank, HSBC, Lloyds Banking Group (including Halifax and Bank of Scotland brands), Nationwide Building Society, RBS (including NatWest and Ulster Bank brands), Santander and TSB.
The Oil Marketing Companies (OMCs) and the Ministry of Petroleum and Natural Gas have been getting a large number of complaints from consumers through various channels including social media, print media and VIP references regarding non-credit of the LPG subsidy amounts into their earlier bank accounts for the past few weeks," the letter read.
With record profit's being made by banks it is imperative that they employ the latest technology in order to make it harder for hackers to gain access to bank accounts.
3 million, and had seized his bank accounts to recover the amount.
New Delhi -- Of over 45,000 Indians surveyed between September 2016 and January 2017, as many as 63% had a financial account of some kind, 64% of all bank account users had used their account in the last 90 days preceding the survey, but only 12% used an advanced bank account service in 2016, according to Intermedia, a research organisation that conducts financial inclusion surveys across India, Bangladesh, Indonesia, Kenya, Nigeria, Pakistan, Tanzania and Uganda.
The Central Board of Excise and Customs (CBEC) said it has asked exporters to align their bank account details declared to the customs with that of GST regime.
The clarification followed media reports quoting a reply to a Right to Information (RTI) application that suggested the apex bank had not issued any order making the linking of Aadhaar to bank accounts mandatory.