glossario

Unlike a current account, which is used to make everyday purchases, a savings account is used to save money. As a result, it offers only a few basic services, such as the direct deposit of pension benefits or the issuing of a debit card. In addition, this type of account does not offer an overdraft facility. With each deposit, the customer entrusts the bank with a sum of money in exchange for interest; the bank must return the amounts deposited at the end of the contract or upon the customer's request.

Customers are given a passbook which is either made out to the account holder, who has exclusive access to the funds, or to the bearer, in which case the funds may be withdrawn by the person in possession of the passbook.