← Money Words
Bank
A place that looks after money for people — and lends some of it out.
Three ways to explain it
Hatchlings · Ages 5–6
A very safe place to keep your money instead of a jar at home. They look after it for you.
Fledglings · Ages 7–8
A company that keeps people’s money safe, pays a little interest for the privilege, and lends money to other people who need it.
High Flyers · Ages 9–10
A business that holds people’s money, pays them interest for the use of it, and lends it out to others at a higher rate. The gap between those two rates is largely how banks make their money.
Where to go next
Read the whole topic: Growing It.