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Themeaning of a bank differ from country to country.Under English law, a bank is defined as a person who carries on the business of banking, which is particular as: conducting current accounts for his customers forfeit cheques drawn on him, and balance collecting cheques for his customers. A banker or bank is a financial institution that undertaking as a payment agent for customers, and scrounge and loan money. In some countries such as Germany, banks are the primary proprietor of industrial corporations while in other countries such as the United States banks are prohibited from owning non-financial companies. In Japan, banks are usually the nexus of transverse share property entity known as zaibatu. Banks act as payment agents by conducting checking or present accounts for customers, paying cheques drawn by customers on the bank, and collecting cheques deposited to customers' current accounts. Banks also enable customer payments via other payment technique such as telegraphic assign, EFTPOS, and ATM. Banks borrow money by uncomplaining funds deposited on current account, accepting term deposits and by issuing debt securities such as banknotes and tie. Banks lend money by making advances to customers on current account, by making installment loans, and by investing in profitable debt securities and other forms of lending. Banks provide almost all payment services, and a bank account is considered indispensable by most businesses, individuals and governments. Non-banks that provide payment services such as allowance companies are not normally considered an adequate substitute for having a bank account. Banks borrow most funds borrowed from households and non-financial businesses, and lend most funds lent to domestic and non-financial businesses, but non-bank lenders provide a significant and in many cases adequate substitute for bank loans, and cash market funds, cash management trusts and other non-bank financial institutions in many cases provide an adequate alternate to banks for lending savings to.
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