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An ordinary bank account at an ordinary bank
Private individuals cannot open an account at the National Bank. For that we must go to an "ordinary" commercial bank, which will look after our money. When we need cash, we can withdraw it from our account. If we want something that costs more money than we have, our bank may grant us a loan. The bank will also pay our bills using deposit money directly out of our account, thus avoiding the use of cash. An account kept at a bank is safe and practical and we also earn interest on the money we hold on it.
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The primary function of the banks is to accept savings deposits and grant loans. Together with the Post Office, banks operate the cashless payments system and provide financial and investment services.
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