A bank may be defined as a credit institution. It is an institution which studies, deals in and guarantees credit. While the bank receives and pays out large sums of money in the form of deposits, such operations are subordinate to the one great function - that of granting credit. If we view, then, the bank from this standpoint, its purpose is to facilitate the exchange of goods without the use of money. Banking has been developed to meet the needs of business. Hence, the more highly developed business becomes, the more extensively bank credit is used and the more important banking becomes in the transaction of business with the use of a minimum amount of money.