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Banks take people's money primarily to use it for lending and investment purposes, which allows them to generate profit. When customers deposit their money, banks pay interest on those deposits while using a portion to provide loans to individuals and businesses at higher interest rates. This process helps stimulate economic growth by facilitating credit availability. Additionally, banks offer services like savings accounts and investment products, providing customers with a secure place to manage their finances.
What else can I help you with?
Commercial banks and their relationship with the reserve bank?
we take/borrow money from the commercial banks and the commercial banks take/borrow money from the reserve bank
Can banks legally take money from your account without your permission?
Banks can only take money from your account without your permission in certain situations, such as if you owe them money or if there is a court order.
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 do banks do with the money you save in their accounts?
Banks generate a lot of income by loaning money deposited by customers out to other customers for fees and repayment with interest. This is the principle action that banks take with the money you deposit.
What do banks do with the money you deposit into your savings account?
Take the money, put it aside for you and wait for you to return and get it.
Commercial banks and their relationship with the reserve bank?
we take/borrow money from the commercial banks and the commercial banks take/borrow money from the reserve bank
How banks work?
Banks take your money and buy mcdonalds
What is a need of a bank?
to keep peoples money safe however some people rob banks
How do banks make money?
Mainly through service fees, and interest on loans.
What is the role of high street banks within the UK economy?
to spend the peoples money and rip of Ashley
Can banks legally take money from your account without your permission?
Banks can only take money from your account without your permission in certain situations, such as if you owe them money or if there is a court order.
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 do banks do with the money you save in their accounts?
Banks generate a lot of income by loaning money deposited by customers out to other customers for fees and repayment with interest. This is the principle action that banks take with the money you deposit.
How does banking work?
Banks take your money and buy mcdonalds
What is the use of mathematics in banks?
the teller or accountant has to add and subract as peole put money or take money out of the banks. Intrest also involves math.
What do banks do with the money you deposit into your savings account?
Take the money, put it aside for you and wait for you to return and get it.
What is it called to take money out of the bank?
In most banks, this is called a withdraw.
