bank account - Definition | Dictionary definition of bank account

Definition of bank account

a fund that a customer has entrusted to a bank and from which the customer can make withdrawals

"he moved his bank account to a new bank"

Types:: show 6 types...; hide 6 types...; giro account
an account at a post office that can be used in similar ways to an account at a bank; checking account, chequing account, current account
a bank account against which the depositor can draw checks that are payable on demand; savings account
a bank account that accumulates interest; deposit account, time deposit account
a savings account in which the deposit is held for a fixed term or in which withdrawals can be made only after giving notice or with loss of interest; dormant account
a savings account showing no activity (other than posting interest) for some specified period; passbook savings account
a savings account in which deposits and withdrawals are recorded in the depositor's passbook

Type of:: account, business relationship
a formal contractual relationship established to provide for regular banking or brokerage or business services