We all know about the kinds of bank accounts one can open at a bank. However, Mr. Covey is writing here about the type people have with us and we with others.
An emotional bank account is filled with things that one person can do for another that are good. These are things like listening; offering help, empathy, courtesy, reliability, etcetera.
People we have a full account with along these lines are less likely to nail us to the wall if we make a mistake, which registers as an account withdrawal. “Therefore,” it is important to make sure that we continually make contributions to the emotional accounts we have with others. “Otherwise,” we can expect our relationships to fall apart.