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What else can I help you with?
Where do people keep there money?
Most people keep their money in banks.
Why are banks needed?
Banks are needed to keep our money safe. And to store currency. it is not convenient for people to store large sums of money in cash at one location
What services did the first banks provide?
Services the first banks provided included storing and protecting money. They allowed individuals to keep their money in one place with minimal risk.
What do banks do with your money once you deposit it?
Banks use the money you deposit to lend to other customers, invest in financial markets, and keep a portion in reserve to meet withdrawal demands.
As commercial banks keep more excess reserves, what happens to money creation?
It decreases.
Where do people keep there money?
Most people keep their money in banks.
Where does a bank keep money?
Banks keep their money in safe vaults. A portion of their money is deposited with the central bank of the nation too.
Why are banks needed?
Banks are needed to keep our money safe. And to store currency. it is not convenient for people to store large sums of money in cash at one location
What place do Parisians keep money?
Banks, just like the rest of us.
Banks create money by lending but that can't yield them any profit cause they can only receive back money they themselves created Why don't the banks keep all the money they create for themselves?
Your grasp of economics and commerce is flawed. Banks do make a profit on the money they lend, a great deal of it. It is called interest. Nor do banks 'create' money.
How do banks function?
Banks play a vital role to keep the flow of money in the economy in a controlled manner following the guidelines of RBI.
What services did the first banks provide?
Services the first banks provided included storing and protecting money. They allowed individuals to keep their money in one place with minimal risk.
What do banks do with your money once you deposit it?
Banks use the money you deposit to lend to other customers, invest in financial markets, and keep a portion in reserve to meet withdrawal demands.
As commercial banks keep more excess reserves, what happens to money creation?
It decreases.
Why do people use banks?
People use banks to keep their money safe. No one can take their money. Before banks were available, anyone could come into your home and take your money. Also banks will insure your money up to $200,000. Plus banks allow you to pay bills by check. Many companies will only take a check for a payment. There are many other benefits to using a bank account.
What is a need of a bank?
to keep peoples money safe however some people rob banks
Who can charter banks?
Chartered banks can be different from one country to the next. They are used by people and companies to keep their money safe and are chartered by the Federal Government.
