It has 12 main banks and 25 smaller branch banks in cities across the United States. All national banks are members of the Federal Reserve. The Bureau of Printing and Engraving, which makes federal notes and the Bureau of the Mint, which makes coins, are both part of the Treasury Department. A checking account is money deposited into a bank which can be withdrawn at any time by writing a check. The bank must pay the amount of the check when it is presented for payment.
Checks serve all the same functions as money.
For this reason, checking accounts are considered as money. Near monies are assets which are almost but not exactly like money. Their values are stated in dollars and cents and they are very liquid. This means that they can be turned into currency or a means of payment easily and without loss of value. These include savings accounts, Treasury bills, mutual funds, and money market accounts.