0
What will happen if a customer puts more money into a checking account at her bank?
Wiki User
∙ 11y ago
he bank will be able to turn around and loan out an amount of money equal to the deposi
Wiki User
∙ 11y ago
If a customer puts more money into her checking account at her bank, the balance of her account will increase. This means she will have more funds available to use for payments or withdrawals. The bank may also pay her interest on the increased balance, depending on the terms and conditions of her account.
Add your answer:
Earn +20 pts
Banking service where a customer can write orders to pay against the money he has available in his account?
checking
What is a banking service in which a customer deposits money and writes checks to withdraw at his or her convience?
A checking account
What is money in a checking account called?
Money in a checking account is called demand deposit.
Why do checking accounts have interest rates?
Certain checking accounts have interest rates because they require that the customer keep a minimum balance in the account each month. This money is used by the bank to make more money.
What if its disabilty money in your checking account how would a lien work then?
if you have a lein on you, can they take your disabilty money out of your checking account
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
How much money do you need to open a savings account with citibank?
At Citibank, a customer needs to only supply $100 to open a savings account with and they don't even need to have a preexisting checking account with the bank.
Do you paid taxes on checking account?
The only tax you would pay on money in a checking account is any interest the money made if it is a interest type of account.
What is the current interst rate for a checking account?
Checking Accounts are also called as Current Accounts. A checking account is one in which customers keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times. So the interest you may earn is either less than 1% or even 0 in many cases.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
