What is a bank? A bank is a financial institution authorized to provide service options for customers who want to save, borrow or accrue more money. Banks typically accept deposits from, and offer ...

Discover what a bank endorsement is, how it guarantees payment for negotiable instruments like letters of credit, and its types used in international trade.

Interest is one of the ways lenders make their money, and it’s what makes it worth it for them to give out loans. If you’re borrowing money, interest is the cost the bank charges you for the service.

A client of mine, John, called last month asking what he should do with some extra cash sitting at a local bank. I asked what “extra” meant and what he wanted to accomplish. He paused for a moment and ...

Kailey Hagen has been writing about small businesses and finance for almost 10 years, with her work appearing on USA Today, CNN Money, Fox Business, and MSN Money. She specializes in personal and ...

Banks don't store your money; they legally own it, profiting from your deposits and using them to gamble, making you the creditor. This design of how banks work is why financial literacy is vital.