How do bank accounts work?

Bank accounts are secure financial tools maintained by banks to help you manage money. They allow you to deposit funds, perform transactions, and keep your savings safe. Each account has a unique number for identification. Savings accounts typically earn interest, while current accounts facilitate frequent business transactions. You can access your funds through various methods like ATMs, debit cards, and online banking platforms like UPI or IMPS. These accounts are regulated by the Reserve Bank of India to ensure the safety and efficiency of your financial activities.