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Banks make profit and generate revenue by two ways:
- By charging you a fee for the services they provide you
- By lending the money you have deposited into your account, to other loan customers and getting an interest on the same.
Interest income is the highest revenue and profit generator for any bank.
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∙ 13y ago
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Why need to work with a bank?
To earn money!
How much money does a credit union bank teller earn?
Credit Union Bank tellers earn the same salary as bank tellers.
How do you earn 5000 a day?
stole the money at the bank
Why should you deposit money in your bank?
You can earn interest.
How does western Samoa earn money from overseas?
by flighting overseas to get the money from the bank
Does all money deposited in a bank earn interest?
No. Money deposited in checking/current accounts do not earn any interest.
Why you go to a bank?
Well, you go to a bank because you can earn interest for the money you made.
How does bank earn money?
by making money on the interest that they charge on loans and credit products.
What happens if a large deposit is made in a bank?
The bank would deposit a portion of the money with the central bank and then think of ways to lend this money and earn an income out of it.
How does money in my account benefit the bank. does it mean the bank is richer?
The money you deposit into your account is an obligation for the bank to be paid to you anytime you want. The bank would lend this money to its other customers and earn an interest income from it.
How do you earn interest from money in the bank?
You earn an interest by depositing your money with the bank either in your savings account or through a fixed deposit. The bank grants loans to other customers and earns an interest out of it. Since it is your money they are using to give off loans, they share a portion of the profit they earn with you by means of an interest that gets paid out to the deposit customers.
Do you need a Google AdSense account to earn money on YouTube?
No, you can still earn money. You just won't get any physical money in your bank account until you make AdSense account.
