0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
How does money in my account benefit the bank. does it mean the bank is richer?
The money you deposit into your account is an obligation for the bank to be paid to you anytime you want. The bank would lend this money to its other customers and earn an interest income from it.
How would you put your money in the savings account?
Take the money to a teller at your bank, or deposit it in the ATM at your bank.
A bank received the payment of an outstation bill on behalf of his customer but before the money could be credited to the customer's account the bank failed what is relationship between the bank?
Principal and Agent.
What is the meaning of online money market account?
An online money market account is basically putting your bank account online that is invested specifically for market. It would typically have higher interest rates for your savings that a typical bank account would.
How do you put money on an account?
Walk into an ATM and deposit the money into your bank accountWalk into the bank branch (any bank that you have an account with) and deposit the money into your bank account
How you get interest rate?
First you need a bank account and money you put the money in the bank account, wait for a year or two and then you get more money in your bank account
Who owns your money in a bank account you or the bank?
The person whose name is on the account owns the money. The bank holds it for them.
What is withdrawal of bank account?
taking out money from your bank account because you want to use the money.
What is the Money placed in a bank?
Money placed in a bank account
Should I get an offshore banking account?
If you have had security issues in the past, then an offshore bank account would be a good idea. however if you feel that your money would be safe it would be easier to keep it in the same bank account.
What does one do with an online bank account?
One can do the same things with an online bank account that they would do with any other bank account. Money can be deposited or withdrawn, bills can be paid, and interest can be earned.
How does a personal bank account work?
you have to have money then you must put it into a bank then you have a bank account.
