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What else can I help you with?
What keeps track of deposits and withdrawals?
The bank and its database keeps track of all deposits and withdrawals done on all its accounts.
How do you use a checkbook ledger?
an informal recored of all deposits to and withdrawals from a given checking account
What best describes why banks aren't allowed to loan out all of their deposits at once?
. If banks loaned out all of their deposits, it would be impossible to meet customers' demands for withdrawals
What is the meaning of square the account?
When you square an account, you have brought it up to date in terms of all deposits and withdrawals.
Can you deposit cash at any ATM?
Not all ATMs allow cash deposits; it largely depends on the bank and the specific ATM. Many banks have designated ATMs that accept cash deposits, while others may only facilitate withdrawals or balance inquiries. It's essential to check with your bank for a list of ATMs that accept cash deposits and their specific procedures. Always ensure you're using an ATM affiliated with your bank to avoid potential fees.
What does it mean to reconcile a bank account?
A savings and especially a checking bank account have constant deposits and withdrawals, including debits and checks against the account. To reconcile an account is to start from the last monthly balance, add in all deposits, subtract the debits, checks, and withdrawls. Further, it usually means doing each one by one, to arrive at the correct current balance which should match the bank's stated balance.
Can you describe what a bank statement looks like?
A bank statement is a document that shows all the transactions in a bank account over a specific period of time. It typically includes details such as deposits, withdrawals, fees, and the account balance. The statement will also show the date of each transaction and may include a summary of the account's activity.
What happens during a bank panic?
depositors rush to the bank to withdraw all deposits
What is the purpose of reconciling your bank statement?
b/c its matching your checkbook register w/ the bank statement:to make sure all checks have cleared as well as withdrawls, online bill payments and fees tothe bank are subtracted from your account& shows all balances added to your account:in terms you and the bank have the same amount records.
Run on bank?
A run on a bank is when a majority of the bank's customers go to the bank to with draw all their money and the bank does not have enough money to cover all the withdrawals. google Savings and Loan crisis 1980's for more detail
The Federal Deposit Insurance Corporation insures bank deposits up to per deposit?
$100,000This is sort of complicated. Per www.fdic.gov:"The basic insurance amount is $250,000 per depositor, per insured bank."The $250,000 amount applies to all depositors of an insured bank."Deposits in separate branches of an insured bank are not separately insured. Deposits in one insured bank are insured separately from deposits in another insured bank."Deposits maintained in different categories of legal ownership at the same bank can be separately insured. Therefore, it is possible to have deposits of more than $250,000 at one insured bank and still be fully insured."
President Jackson destroyed the national bank by?
withdrawing all federal deposits.
