Account 3
Definition
An account maintained by a bank or a building society in which a depositor’s money is kept.
Example
Example 1:
Amaka walks into First Bank in Port Harcourt and opens a savings account, her deposited funds are safely kept and she can withdraw or transfer money at any time.
Example 2:
A student in Boston opens a checking account with Bank of America, depositing his monthly allowance and using it for everyday expenses through his debit card.