Ever wondered what banks do with your money? Or what happens when you pay for something in a shop with a debit card? Click GO to find out this and more – there's loads to explore!
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You can keep your money safe by putting it in a bank account. The bank keeps a record of how much you have, and pays you money called interest on your savings.
Banks lend money to people who want to buy something expensive, or start a business. This is called a loan. Without bank loans, many people would not be able to buy cars or houses.
Many businesses need to borrow money from a bank to get started. The business keeps its money safe in a business bank account, and might borrow more money to grow bigger.
Almost all countries have a central bank that controls how much money is printed, sets interest rates, and lends to the other banks.
Banks borrow money from each other all the time to make sure they always have enough to pay everyone who wants to take money out of their accounts.
Banks sometimes lend out money to help pay for expensive projects like airports. As long as the project makes money, the bank will get back more than it lent.