Study of consumer preference for online banking

Banking: Meaning

The origin of the term "bank" is the French word "banco," which means "money exchange table" or "money exchange bench." In the past, European moneylenders would place several coins from various nations on benches or tables so that they could be exchanged or borrowed.

According to the dictionary, "bank" and "banking" signify

Bank "A location where money is stored, loaned, traded, or issued, where credit is extended, and where money may be transferred from one location to another."

Banking is the operation of a bank or the provision of banking services.

The Oxford English Dictionary defines a bank as "a facility that stores money and distributes it at the customer's request."

The Banking Regulation Act defines "banking business" as "accepting public deposits for the purpose of lending or investing that may be refunded on demand or in other ways and can be withdrawn by check or other methods."

According to Professor Sayers, a bank is an organisation whose loans are generally recognised as payment for debts owed by other individuals to one another.