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What is a bank account?

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What is a bank account?

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The  bank account means a financial account which is maintained by a bank on behalf of its customers. Individuals, companies, trusts and all legal entities are allowed as per prescribed banking regulations to open a bank account. The bank account may be savings or deposits account, credit card account or a current account or loan account. Different entities open different types of bank accounts with different terms and conditions to suit their requirement. Bank accounts offer th...

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