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FDIC Learning Bank Carmen Centswhat

What is a Bank Account?

A bank account is a place where people place their money so it is safe until they need it. Sometimes bank accounts also earn money, called interest. Banks pay interest on accounts so that people will put their money in the bank, instead of keeping it at home. There are basically two kinds of accounts at a bank: Savings accounts and Checking accounts.

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Last Updated 1/2/2014 learning@fdic.gov