Bank

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A bank is a place where you can put your money for safekeeping. In addition to taking care of your money, banks can provide all sorts of financial services, such as handling your checks, making loans (including mortgages), or selling you a certificate of deposit. The bank charges you a fee for taking care of your money and handling your checks, although the more money you give the bank to look after, the fewer bank charges you typically pay. Before you can deposit money in a bank you must first open a bank account. See also Credit Union, Investment Bank, Safe Deposit Box, and Thrifts.