What is the difference between Account and Institute ?

Modified on Fri, 03 Feb 2023 at 01:24 PM

Institute is one bank (bank or company or financial agency) where you can have one or multiple accounts like SAVINGS, CREDIT CARD , LOAN , MORTGAGE etc, whereas Account is one particular type (from above list) of account where you actually deposit or withdraw money/asset from and it has a account number associated with it.

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