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they are called depositors because they deposit their money in the bank. they are also called bank clients.
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∙ 14y ago
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What is it called when many people withdraw their money from the bank at one time?
Known as a "Run on the bank".
Are Bank customers are considered creditors?
It depends. Yes - If they have deposited money into their accounts held with the bank, they are called creditors No - If they do not have any money deposited in their account with the bank. Instead if they are loan customers they are called debtors (or people who owe a debt to the bank)
What occurs when many people withdraw their money from a bank at one time?
crash
What is a group of money called?
bank of money
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
People who have money in a bank are called?
depositors
People who have money in a bank are called what?
depositors
What are people that have money in the bank called?
Depositors.............Politicians :-)
What is it called when many people withdraw their money from the bank at one time?
Known as a "Run on the bank".
Are Bank customers are considered creditors?
It depends. Yes - If they have deposited money into their accounts held with the bank, they are called creditors No - If they do not have any money deposited in their account with the bank. Instead if they are loan customers they are called debtors (or people who owe a debt to the bank)
What occurs when many people withdraw their money from a bank at one time?
crash
What is a group of money called?
bank of money
What is the money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is it called when everyone starts to pull their money out of the bank?
It is called a "Run on the Bank". Phil.
Why is the bank willing to protect your money for free or for a low cost?
Because your money isn't actually IN the bank; the bank lent your money out to somebody else. It's called "fractional reserve banking". A hundred people deposit money in the bank, and the bank promises to pay interest on the money. Then the bank LOANS OUT some (actually, most!) of the money to start businesses or buy houses. The borrower pays more interest to the bank than the bank pays to you, so as long as the loans are good and people pay their mortgages on time, everything is fine. The problem comes when two things both happen around the same time; people can't make their mortgage payments, AND the people who had deposited money in the bank start to get nervous and want their money back. When lots of people all want their money back at the same time, it's called a "run on the bank", and the bank won't be able to give the depositors their money - because the money was lent out to businesses that are failing, or for homes where the people can't pay their mortgages. The U.S. government sponsors "deposit insurance" so that the depositors don't have to worry that they won't be able to get their money back. And since there's no worry (or not much!) there are few "runs on the bank" these days.
What is the money you place in your savings called?
bank
