0
Under some circumstances, yes.
Consider this: your great-uncle has exactly $1000 to his name. He dies and leaves all his money to you in his will. He also has a credit card, on which he owes $1000. The bank is legally entitled to take the $1000 to pay off his debt, even though he left it to you.
The debts of the estate must be settled before any bequests can be disbursed.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
Commercial banks and their relationship with the reserve bank?
we take/borrow money from the commercial banks and the commercial banks take/borrow money from the reserve bank
Why do people use banks?
People use banks to keep their money safe. No one can take their money. Before banks were available, anyone could come into your home and take your money. Also banks will insure your money up to $200,000. Plus banks allow you to pay bills by check. Many companies will only take a check for a payment. There are many other benefits to using a bank account.
What do banks do with the money you save in their accounts?
Banks generate a lot of income by loaning money deposited by customers out to other customers for fees and repayment with interest. This is the principle action that banks take with the money you deposit.
What do banks do with the money you deposit into your savings account?
Take the money, put it aside for you and wait for you to return and get it.
What is it called to take money out of the bank?
In most banks, this is called a withdraw.
Commercial banks and their relationship with the reserve bank?
we take/borrow money from the commercial banks and the commercial banks take/borrow money from the reserve bank
How banks work?
Banks take your money and buy mcdonalds
Why do people use banks?
People use banks to keep their money safe. No one can take their money. Before banks were available, anyone could come into your home and take your money. Also banks will insure your money up to $200,000. Plus banks allow you to pay bills by check. Many companies will only take a check for a payment. There are many other benefits to using a bank account.
What do banks do with the money you save in their accounts?
Banks generate a lot of income by loaning money deposited by customers out to other customers for fees and repayment with interest. This is the principle action that banks take with the money you deposit.
How does banking work?
Banks take your money and buy mcdonalds
What is the use of mathematics in banks?
the teller or accountant has to add and subract as peole put money or take money out of the banks. Intrest also involves math.
What do banks do with the money you deposit into your savings account?
Take the money, put it aside for you and wait for you to return and get it.
What is it called to take money out of the bank?
In most banks, this is called a withdraw.
Why did the stock market crash take place?
Too many people got money from their stocks and the banks were running out of money. Everyone wanted their money, but the banks didn't give it to them. This resulted in everybody losing their money.
What is the purpes of ATM?
For the banks: To make money. For regular people: To take money from their credit card and make it physical money.
Can banks take money from your personal account if your business account is negative?
yes
What are the three common duties that all central banks perform?
saving money,you can take asome out of the bank and stilll have money,and give you money
