A bank account is a financial arrangement between an individual or business and a bank that allows the account holder to deposit, withdraw, and manage money. There are different types of bank accounts, including checking accounts for daily transactions and savings accounts for earning interest on deposits. Bank accounts provide a safe place to store money and often come with features like debit cards and online banking. They help individuals track their spending and savings, making it easier to manage finances. Additionally, funds in a bank account are typically insured up to a certain limit by government agencies, providing added security.