Glossary
Bank
A financial institution that offers services such as storing money, providing loans, making payments, exchanging currency, and managing savings and investments. Banks play a key role in the economy by collecting funds from depositors and lending them to individuals, businesses, and the government in the form of loans.
Bank Account - glossary for children
An account is a way to record the money someone has in a bank and how much there is. The account can be used to pay, receive, or save money.
Bank Fees
Amounts charged by a bank for providing various services such as account maintenance, transfers, cash withdrawals, card issuance, and other financial operations. When granting loans, banks may also charge fees for document review, credit risk assessment, collateral appraisal, legal evaluation, and more.
Bank - glossary for children
A business that looks after people’s money by keeping it safe, lending money, and helping with payments.
Banking Product
A service or instrument provided by a commercial bank intended to meet the financial needs of individuals and legal entities. Examples include deposit products (savings accounts, term deposits, deposit certificates), credit products (consumer loans, mortgage loans, overdraft, credit cards), payment products (current accounts, debit cards, online banking), investment products (mutual funds, structured deposits, brokerage services), and bancassurance products (combined products with an insurance component).
Banknote - glossary for children
Paper money that is used for paying.
Banknotes
Paper money that is used for paying.
Bank Transfer - glossary for children
Sending money from one bank account to another.
Barter
The direct exchange of goods for goods without the use of money. It is considered the earliest form of modern economic relations, which evolved into the use of money due to the limitations of barter.
Barter - glossary for children
Exchanging goods or services without using money.
Partners
