Bank accounts are useful as
we can save money in the account, draw and use money when we need.
Money deposited in an account grows with some interest.
Money is safer in bank than at home, thieves cannot steal
We can transfer money if required (like paying fees) to school, or to another
person when needed. We get a receipt (proof) for a transaction.
Signature in the bank account is used as a proof for signature for young persons.