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Money placed in a bank account is commonly referred to as a deposit. This can include various types of accounts, such as savings accounts, checking accounts, or certificates of deposit (CDs). Deposits typically earn interest, depending on the account type and the bank's policies. Additionally, funds in these accounts are generally insured up to a certain limit by government agencies, providing security for the account holder.
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What is the Money placed in a bank?
Money placed in a bank account
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is the amount of money in a bank called?
account balance
Why do banks pay interest on your savings account?
The bank customers share of profit made on loans by the bank is called the "Interest". It is the money the bank pays the customer for having their money deposited with the bank. As you know, the bank earns an interest income from loan customers for the money they lend them, and since this money they lend is taken from the deposits placed by customers, banks share the profit by paying an interest to the customer who has placed the deposit with them.
What is Money put into an bank account called?
to deposit moneyA Deposit is the act of putting money into an account.
What is money placed into an account?
money in a bank account, when u put money into an account it is called a deposit.
What is the Money placed in a bank?
Money placed in a bank account
What is money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
What is the money paid for the use of money called?
Money that is paid for the use of money is called interest. When you keep your money in a bank savings account, the bank credits your account with interest.
The amount of money in a bank account is called what?
account balance
What is the amount of money in a bank called?
account balance
Why do banks pay interest on your savings account?
The bank customers share of profit made on loans by the bank is called the "Interest". It is the money the bank pays the customer for having their money deposited with the bank. As you know, the bank earns an interest income from loan customers for the money they lend them, and since this money they lend is taken from the deposits placed by customers, banks share the profit by paying an interest to the customer who has placed the deposit with them.
What is the amount of money in an account called?
It is called a bank accounts balance
Money placed in an insured bank account so that it will be available for future emergencies is referred to as .?
Savings
What is Money put into an bank account called?
to deposit moneyA Deposit is the act of putting money into an account.
What is called the amount of money that you have in your bank account an any point in time?
Bank Balance.
If a bank customer has an individual account and they die and their will states that funds pass to a trust can the executor close the account?
Yes, they can close the account. The money will then be placed as directed by the will.
