A bank is two or more patches or sounds on your synthesizer. Multi-timbral synthesizers can play up to 16 parts simultaneously such as strings, guitar, piano, bass and so on because MIDI has 16 channels that it can use to send and receive commands. Depending on the manufacturer, the mode that allows multiple instruments to be played at once could be called a Performance, Multi, Combi, Global or who knows what else. Remember, a sequence is nothing more than recorded MIDI commands. A sequencer records sequences.
Most newer synthesizers have on-board sequencers.
Some software can sequence. When these signals are recorded, they are recorded onto tracks. In months ahead, the musicians in your church will benefit greatly from this column. And with his blood, mankind hath bought. Noel, Noel, Noel, Noel.