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Central banks are the regulator or supervisors of banking operations in a country. Individuals cannot have bank accounts with them. Only banks that are authorized to provide banking services in the country are allowed to have accounts with the central banks. Since they are not a regular commercial bank, they don't accept deposits from customers.
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Why wont a bank accept a bankdraft back from one of teir customers?
The bank cannot do that. Any customer of the bank who wants to deposit a bank draft into their account can do that. A bank cannot refuse to accept a customer's draft for deposit. You have the right to deposit it with any bank that you have an account with (unless it is a fake draft).
What is a bank's reserve-to-deposit ratio?
this is the amount of deposit the central bank authorise bank to keep them
How does a certificate of deposit work and what amts can you purchase?
A Fixed Deposit or a Certificate of Deposit is a special type of deposit account that can be opened by any customer. The customer will deposit a large sum of money with the bank for a predetermined period of time (Usually in months or years). The bank will offer a good interest rate to the customer for parking his/her money long-term with them. The customer wouldn't break his deposit mid term and keep it until maturity because if he does so, he will be charged a penalty for doing so. In terms of amount - you can purchase any amount you want. The only thing the bank might ask if you deposit huge sums of money is "source of income" and if you provide that, the bank will be willing to accept a deposit of any amount.
What does the Federal Deposit Insurance Corporation do?
It acts as an insurer of bank customer deposits. A+
Will chase bank accept a 21000 third party check for deposit?
no
Why wont a bank accept a bankdraft back from one of teir customers?
The bank cannot do that. Any customer of the bank who wants to deposit a bank draft into their account can do that. A bank cannot refuse to accept a customer's draft for deposit. You have the right to deposit it with any bank that you have an account with (unless it is a fake draft).
What is a bank's reserve-to-deposit ratio?
this is the amount of deposit the central bank authorise bank to keep them
How does a certificate of deposit work and what amts can you purchase?
A Fixed Deposit or a Certificate of Deposit is a special type of deposit account that can be opened by any customer. The customer will deposit a large sum of money with the bank for a predetermined period of time (Usually in months or years). The bank will offer a good interest rate to the customer for parking his/her money long-term with them. The customer wouldn't break his deposit mid term and keep it until maturity because if he does so, he will be charged a penalty for doing so. In terms of amount - you can purchase any amount you want. The only thing the bank might ask if you deposit huge sums of money is "source of income" and if you provide that, the bank will be willing to accept a deposit of any amount.
What does the Federal Deposit Insurance Corporation do?
It acts as an insurer of bank customer deposits. A+
Will chase bank accept a 21000 third party check for deposit?
no
What do bank teller do?
Bank tellers are the first people customers deal with. They deposit and cash checks, process withdrawals, accept merchant deposits, let people into their safe deposit boxes, cross sell bank products and services, resolve minor bank issues they may have, smile and are pleasant giving the customer a positive banking experience and a good reflection on the bank.
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.
What is the cash reserve ratio in India?
Cash Reserve Ratio or CRR in India is the amount of money that every bank has to deposit with the RBI per customer. Every time a customer deposits cash to the bank, the bank has to correspondingly deposit a portion of that cash to the RBI. RBI decides this percentage of money that each bank has to deposit with it.
What is cash reserve ratio or CRR?
Cash Reserve Ratio or CRR in India is the amount of money that every bank has to deposit with the RBI per customer. Every time a customer deposits cash to the bank, the bank has to correspondingly deposit a portion of that cash to the RBI. RBI decides this percentage of money that each bank has to deposit with it.
Can you deposit gold into your bank account?
No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.
What is cash deposit ratio?
Cash deposit ration is the amount of money a bank has available for a customer to withdraw. This is a certain percentage of the total money paid into the bank.
How do you find customer id in central bank of India?
You should ask the Central Bank of India not Answers.com
