your money is problably not kept in the bank but its loaned to other banks and other banks loan to your bank
You still owe money.
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.
customers attempt to withdraw more money than the bank has on hand
reserves is the money that a bank holds aside just in case they run out, they'll have money to back them up.When a bank runs out of reserves they can either get loans from the government or file bankruptcy.
Banks are insured up to 100,000.00 by the government.
You still owe money.
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.
customers attempt to withdraw more money than the bank has on hand
deposited money is credited to your concern bank account
customers attempt to withdraw more money than the bank has on hand
reserves is the money that a bank holds aside just in case they run out, they'll have money to back them up.When a bank runs out of reserves they can either get loans from the government or file bankruptcy.
Banks are insured up to 100,000.00 by the government.
You'll be ticketed for driving with an invalid registration and driving without insurance, and you still owe that money to the bank.
Two things can happen: 1) The bank finds out and notifies you that the money has been returned. OR 2) The bank does not find out and you are richer and lucky.
cashpoint correction usually happens if u lost money in the cashpoint and have reported it to your bank
If the incident happens because of the carelessness of the customer in protecting his logon id and password the bank is not responsible. If the incident happens due to some mistake in the bank system then it is liable.
Actually nothing special happens. The few things that happen are:Your bank balance increases by 10000 (the amount you deposited)The money you deposited is available for withdrawal anytime you wantThe money you deposited starts earning an interest for you for as long as this money is kept in that account.