The general term for a financial institution that accepts deposits is a "bank." Banks serve as intermediaries in the financial system, accepting deposits from individuals and businesses while providing various services like loans, savings accounts, and payment processing. They play a crucial role in the economy by facilitating transactions and providing a safe place for customers to store their money. Banks can be categorized into several types, including commercial banks, investment banks, and credit unions, each offering different services tailored to specific financial needs and clientele. Additionally, banks are regulated by government agencies to ensure their safety and soundness.