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A blood bank.
A turf bank.
A river bank.
A land bank.
Plus others.
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∙ 13y ago
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Is it better to have a bank account or keep your money at home?
It is better to keep the money in a bank account because:The money will earn an interest which will be an additional income for youThe bank will grant loans to other customers who need the moneyThis money will be used by those customers for their business needs
What is discounting bill exchange?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
What is The percentage of deposits that a bank must retain for depositors called?
It is called Cash Reserve Ratio. It is the % of money from the amount collected from depositors that needs to be maintained as deposit with the reserve bank. The bank cannot use this money for its financial needs. For Ex: if the CRR is 5% and you deposit $1000 into your account, the bank has to deposit $50 against your name
How does a bank draft work?
A bank draft is a check issued by a bank. It is drawn on the account for a person who has money deposited with the bank. A bank draft is also called a certified check. It is made out to the business or person the customer of the bank needs to pay.
What is northern rock savings benefits?
Northern Rock was a British bank that was acquired by Virgin Money (owned by the Virgin Group) in 2012. Virgin Money offers several savings accounts for in-bank and online banking needs.
What kind of bank has no money?
A Sperm Bank
What is prudential reserve ratio?
the money that held by the bank inorder to meet the needs of money that are banked by customers.
Recording Withdrawal of money from Bank for office use by using cash book?
withdrawal of money from the bank for office use. what kind of transaction is this ?
What is exchange bill?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
What does a banker needs in his house?
a safe to store all that money he is gona steal from the bank
Is it better to have a bank account or keep your money at home?
It is better to keep the money in a bank account because:The money will earn an interest which will be an additional income for youThe bank will grant loans to other customers who need the moneyThis money will be used by those customers for their business needs
What is Discounting bill of exchange?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
What is discounting bill exchange?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
What is The percentage of deposits that a bank must retain for depositors called?
It is called Cash Reserve Ratio. It is the % of money from the amount collected from depositors that needs to be maintained as deposit with the reserve bank. The bank cannot use this money for its financial needs. For Ex: if the CRR is 5% and you deposit $1000 into your account, the bank has to deposit $50 against your name
How can you be an asset to the bank?
If you take a loan from the bank, then you become an asset to the bank. That is because, you owe money to the bank and the bank has all rights to take the money and the interest that you are supposed to pay for the loan from you. So any kind of money that is to be received by anyone is an asset and so similarly, a loan that people will pay back to the bank will be an asset to the bank.
What is primary reserve?
A primary reserve is a specific amount of money that a bank needs. This specific amount is the least amount they need to run the bank.
How does a bank draft work?
A bank draft is a check issued by a bank. It is drawn on the account for a person who has money deposited with the bank. A bank draft is also called a certified check. It is made out to the business or person the customer of the bank needs to pay.
