# bank

> financial institution that accepts deposits

**Wikidata**: [Q22687](https://www.wikidata.org/wiki/Q22687)  
**Wikipedia**: [English](https://en.wikipedia.org/wiki/Bank)  
**Source**: https://4ort.xyz/entity/bank

## Summary
A bank is a financial institution that accepts deposits, connecting surplus and deficit agents in the financial system. It is a type of financial intermediary and credit institution, primarily engaged in banking and credit provision.

## Key Facts
- **Financial Intermediary**: A bank connects surplus and deficit agents, facilitating the flow of funds.
- **Credit Institution**: Banks primarily provide banking and credit services.
- **Enterprise**: Banks are organizational units that produce goods or services, focusing on financial services.
- **Financial Institution**: Banks provide financial services to clients or members.
- **Private Banking**: Services for very wealthy individuals.
- **Direct Bank**: Solely offers services remotely through telephone, online, or with ATMs.
- **Mortgage Bank**: Specializes in originating and servicing mortgage loans.
- **Offshore Bank**: Located outside the country of residence of the depositor.
- **Universal Bank**: Provides many kinds of banking services as both a commercial and investment bank.
- **Christian Finance**: Follows Christian ethics in financial services.
- **Bad Bank**: Manages illiquid resources.
- **Payments Bank**: New model of banks initiative by Reserve Bank of India.
- **Savings Bank**: Primarily accepts savings deposits.
- **Cantonal Bank**: Swiss banking company, (co-)owned by cantons.
- **Merchant Bank**: Deals in commercial loans and investment.
- **National Bank**: Form of bank.
- **Central Bank**: Manages a state's currency, money supply, and interest rates.
- **Commercial Bank**: Financial institution.
- **Moldova Agroindbank**: Commercial bank of Moldova.
- **Regional Rural Bank**: Indian Government-owned scheduled commercial banks operating at the regional level in different states of India.
- **Public Bank**: Bank in which a state, municipality, or public actors are owners.
- **Online Banking**: Service offering banking operations online.
- **Investment Bank**: Type of private company.
- **Securities Account**: An account that is used to handle securities transactions and securities holdings.
- **Federal Reserve Bank**: Regional bank of the U.S. Federal Reserve System.
- **Islamic Bank**: Bank specializing in Sharia-compliant banking.

## FAQs
- **What is the primary function of a bank?**
  The primary function of a bank is to accept deposits and connect surplus and deficit agents in the financial system.

- **What types of banks are there?**
  There are various types of banks including financial intermediaries, credit institutions, private banks, direct banks, mortgage banks, offshore banks, universal banks, Christian finance banks, bad banks, payments banks, savings banks, cantonal banks, merchant banks, national banks, central banks, and commercial banks.

- **What services do banks provide?**
  Banks provide a wide range of services including accepting deposits, facilitating credit provision, offering financial services, and managing money supply and interest rates.

- **What is the difference between a commercial bank and an investment bank?**
  A commercial bank primarily deals with day-to-day banking activities such as accepting deposits and providing loans, while an investment bank focuses on raising capital for businesses through the sale of securities and other financial instruments.

- **What is an offshore bank?**
  An offshore bank is a bank located outside the country of residence of the depositor, often used for tax avoidance and privacy purposes.

- **What is a mortgage bank?**
  A mortgage bank specializes in originating and servicing mortgage loans, which are loans used to purchase real estate.

- **What is a direct bank?**
  A direct bank solely offers services remotely through telephone, online, or with ATMs, without physical branches.

- **What is a bad bank?**
  A bad bank is meant to manage illiquid resources, often resulting from the failure of other banks.

- **What is a payments bank?**
  A payments bank is a new model of banks initiative by Reserve Bank of India, focusing on digital payments and financial inclusion.

- **What is a savings bank?**
  A savings bank primarily accepts savings deposits and offers low-interest savings accounts to individuals.

- **What is a cantonal bank?**
  A cantonal bank is a Swiss banking company, (co-)owned by cantons, providing financial services to the local community.

- **What is a merchant bank?**
  A merchant bank deals in commercial loans and investment, often providing financing for large corporate transactions.

- **What is a national bank?**
  A national bank is a form of bank that operates at the national level, providing financial services to the entire country.

- **What is a central bank?**
  A central bank is a public institution that manages a state's currency, money supply, and interest rates, serving as the bank of last resort.

- **What is a commercial bank?**
  A commercial bank is a financial institution that provides a wide range of banking services to individuals and businesses, including accepting deposits, providing loans, and offering financial advice.

## Why It Matters
Banks play a crucial role in the financial system by facilitating the flow of funds, providing credit, and offering financial services. They connect surplus and deficit agents, ensuring economic stability and growth. Banks also play a significant role in supporting businesses and individuals through loans, savings accounts, and investment services. The diversity of bank types, such as commercial banks, investment banks, and central banks, caters to different financial needs, making them essential for economic development and financial inclusion.

## Notable For
- **Connecting Surplus and Deficit Agents**: Banks facilitate the flow of funds between those with surplus funds and those in need of funds.
- **Providing Credit**: Banks offer loans and credit services to individuals and businesses, supporting economic growth.
- **Offering Financial Services**: Banks provide a wide range of financial services, including savings accounts, checking accounts, and investment services.
- **Managing Money Supply**: Central banks manage the money supply and interest rates, ensuring economic stability.
- **Specialized Services**: Banks like mortgage banks specialize in specific financial services, catering to niche markets.
- **Digital Banking**: Direct banks and payments banks focus on digital banking, offering services remotely through telephone, online, or with ATMs.
- **Ethical Banking**: Christian finance banks follow Christian ethics in their financial services, catering to a specific demographic.

## Body
### History
Banks have a long history, with the first known bank, the Bank of Amsterdam, established in 1609. Over time, banks have evolved to include various types such as commercial banks, investment banks, and central banks. The development of banking systems has been crucial for economic growth and financial stability.

### Types of Banks
- **Financial Intermediary**: Banks connect surplus and deficit agents, facilitating the flow of funds.
- **Credit Institution**: Banks primarily provide banking and credit services.
- **Enterprise**: Banks are organizational units that produce goods or services, focusing on financial services.
- **Financial Institution**: Banks provide financial services to clients or members.
- **Private Banking**: Services for very wealthy individuals.
- **Direct Bank**: Solely offers services remotely through telephone, online, or with ATMs.
- **Mortgage Bank**: Specializes in originating and servicing mortgage loans.
- **Offshore Bank**: Located outside the country of residence of the depositor.
- **Universal Bank**: Provides many kinds of banking services as both a commercial and investment bank.
- **Christian Finance**: Follows Christian ethics in financial services.
- **Bad Bank**: Manages illiquid resources.
- **Payments Bank**: New model of banks initiative by Reserve Bank of India.
- **Savings Bank**: Primarily accepts savings deposits.
- **Cantonal Bank**: Swiss banking company, (co-)owned by cantons.
- **Merchant Bank**: Deals in commercial loans and investment.
- **National Bank**: Form of bank.
- **Central Bank**: Manages a state's currency, money supply, and interest rates.
- **Commercial Bank**: Financial institution.

### Services
Banks offer a wide range of services including accepting deposits, facilitating credit provision, offering financial services, and managing money supply and interest rates. They play a crucial role in the financial system by connecting surplus and deficit agents, ensuring economic stability and growth.

### Significance
Banks are essential for economic development and financial inclusion. They provide financial services to individuals and businesses, supporting economic growth and stability. The diversity of bank types caters to different financial needs, making them crucial for the financial system.

### Related Entities
- **Moldova Agroindbank**: Commercial bank of Moldova.
- **Regional Rural Bank**: Indian Government-owned scheduled commercial banks operating at the regional level in different states of India.
- **Public Bank**: Bank in which a state, municipality, or public actors are owners.
- **Online Banking**: Service offering banking operations online.
- **Investment Bank**: Type of private company.
- **Securities Account**: An account that is used to handle securities transactions and securities holdings.
- **Federal Reserve Bank**: Regional bank of the U.S. Federal Reserve System.
- **Islamic Bank**: Bank specializing in Sharia-compliant banking.

### Notable Achievements
- **Connecting Surplus and Deficit Agents**: Banks facilitate the flow of funds between those with surplus funds and those in need of funds.
- **Providing Credit**: Banks offer loans and credit services to individuals and businesses, supporting economic growth.
- **Offering Financial Services**: Banks provide a wide range of financial services, including savings accounts, checking accounts, and investment services.
- **Managing Money Supply**: Central banks manage the money supply and interest rates, ensuring economic stability.
- **Specialized Services**: Banks like mortgage banks specialize in specific financial services, catering to niche markets.
- **Digital Banking**: Direct banks and payments banks focus on digital banking, offering services remotely through telephone, online, or with ATMs.
- **Ethical Banking**: Christian finance banks follow Christian ethics in their financial services, catering to a specific demographic.

## References

1. AGROVOC
2. [Nuovo soggettario](https://thes.bncf.firenze.sbn.it/termine.php?id=1005)
3. Nuovo soggettario
4. Freebase Data Dumps. 2013
5. Art & Architecture Thesaurus
6. Library of Congress Authorities
7. YSO-Wikidata mapping project
8. BabelNet
9. [archINFORM](https://www.archinform.net/service/wd_aistich.php)
10. General Finnish Ontology
11. Global Agricultural Concept Space
12. National Library of Israel
13. EuroVoc
14. KBpedia
15. [OpenAlex](https://docs.openalex.org/download-snapshot/snapshot-data-format)