A letter bank is a type of anagram

Anagram

An anagram is a type of word play, the result of rearranging the letters of a word or phrase to produce a new word or phrase, using all the original letters exactly once; e.g., orchestra = carthorse, A decimal point = I'm a dot in place, Tom Marvolo Riddle = I am Lord Voldemort. Someone who...

 where all the letters of one word (the "bank") can be used as many times as desired (minimum of once each) to make a new word or phrase. For example, IMPS is a bank of MISSISSIPPI, SENT is a bank of TENNESSEE and SPROUT is a bank of SUPPORT OUR TROOPS

Support our troops

Support our troops is a slogan commonly used in the United States and Canada in reference to each country's military forces or troops. The slogan has been used during recent conflicts, including the Gulf War and the Iraq war....

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The term "letter bank" was coined by Will Shortz

Will Shortz

Will Shortz is an American puzzle creator and editor, and currently the crossword puzzle editor for The New York Times.-Early life and education:...

 at the 1980 convention of the National Puzzlers League. This puzzle type is the basis for the word game

Word game

Word games and puzzles are spoken or board games often designed to test ability with language or to explore its properties.Word games are generally engaged as a source of entertainment, but have been found to serve an educational purpose as well...

 Alpha Blitz

Alpha Blitz

Alpha Blitz is a word game designed by Mike Selinker and published by Wizards of the Coast. Alpha Blitz is based on the concept of a letter bank, as players make words using the letter cards on the table as many times as they like...

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An imperfect anagram

Anagram

An anagram is a type of word play, the result of rearranging the letters of a word or phrase to produce a new word or phrase, using all the original letters exactly once; e.g., orchestra = carthorse, A decimal point = I'm a dot in place, Tom Marvolo Riddle = I am Lord Voldemort. Someone who...

 letter bank algorithm, could be used to correct spelling mistakes, overcome transposition, dyslexic errors and double letter errors. Combined with other algorithms such as soundex

Soundex

Soundex is a phonetic algorithm for indexing names by sound, as pronounced in English. The goal is for homophones to be encoded to the same representation so that they can be matched despite minor differences in spelling. The algorithm mainly encodes consonants; a vowel will not be encoded unless...

, metaphone

Metaphone

Metaphone is a phonetic algorithm, an algorithm published in 1990 for indexing words by their English pronunciation. It fundamentally improves on the Soundex algorithm by using information about variations and inconsistencies in English spelling and pronunciation to produce a more accurate...

 and Levenshtein distance

Levenshtein distance

In information theory and computer science, the Levenshtein distance is a string metric for measuring the amount of difference between two sequences...

, it could make a very powerful did you mean response to search engine

Search engine

A search engine is an information retrieval system designed to help find information stored on a computer system. The search results are usually presented in a list and are commonly called hits. Search engines help to minimize the time required to find information and the amount of information...

queries.