# Financial Account

**IRI:** https://folio.openlegalstandard.org/RCqg8Edym0NbyFXA5DXor8w

## Labels

**Preferred Label:** Bank Account

## Definition

An account in a financial context, such as a bank or investment firm, is a contractual arrangement that allows individuals or entities to deposit, withdraw, or manage money and financial assets. Accounts can come in various forms, such as savings accounts, checking accounts, or investment accounts, each with their own rules, benefits, and limitations.

## Sub Class Of

- https://folio.openlegalstandard.org/RhBgnef56iLBXYfPqWQE41

## Parent Class Of

- https://folio.openlegalstandard.org/R7NDrp0Djwxfca3D3VuHKlx
- https://folio.openlegalstandard.org/R8C2GNWlmN6cCizmbGAawqo
- https://folio.openlegalstandard.org/RB5BPn0E3Z2rZfDUk7Ta4i7
- https://folio.openlegalstandard.org/RZhwEbiJT6FHFIQayMF5yV

**Comment:** From LIST: Legal Issues Taxonomy — https://taxonomy.legal/

**Deprecated:** False