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In theory all banks should be safe places to put your money into. Reality is though no banks are 100% safe. The issue is what banks do you trust to put your money into? What kind of money are you talking about? If it's a huge amount then you need to talk to a banks senior manager about the security and safety of your funds. If it's just someplace to have your paycheck come to through direct deposit or its a couple of thousand dollars you're trying to hold on to then just talk to a teller or someone who handles that kind thing. The bottom line is that it just depends on what you're trying to do with the money that you have; and which bank can meet your financial needs while providing safety.
What else can I help you with?
Do many banks pay interest on the money you deposit into your savings account?
Yes, many banks pay interest on the money you deposit into your savings account.
Is a home safe as secure as a bank safe deposit box?
No. Definitely not. A Banks safe deposit box is much much safer than a safety deposit box in a home.
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.
Banks lend out the money that you deposit to make a profit?
Yes.
Why would someone save there money in a financial institution?
There are two main reasons as to why people would save their money in a financial institution like a bank. They are: a. For safekeeping. Keeping a lot of money at home is not safe whereas banks and their vaults are very safe b. To earn an interest - Banks pay us an interest for having us deposit our money with them. This is an added incentive for people to park their savings with banks.
What is a safe deposit receipt?
A safe deposit receipt is a receipt for the payment of renting a safe deposit box at a bank. Some banks charge a monthly fee for this type of safe.
Is a home safe as secure as a bank safe deposit box?
No. Definitely not. A Banks safe deposit box is much much safer than a safety deposit box in a home.
Do many banks pay interest on the money you deposit into your savings account?
Yes, many banks pay interest on the money you deposit into your savings account.
What are the roles of deposit money banks on the economics growth of nigeria?
The role of deposit money bank in nation
What does the Fed do for commercial banks?
The main thing the Fed does is that it is the Bank that Banks deposit their money in.
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.
Banks lend out the money that you deposit to make a profit?
Yes.
What can you do if your bank was robbed?
You don't need to do anything. Your bank was insured by the Federal Deposit Insurance Corporation (FDIC) and your money will be replaced. If the banks safe deposit vault was robbed and your personal valuables were stolen, that is another matter entirely and would be handled by the banks private insurors.
Why would someone save there money in a financial institution?
There are two main reasons as to why people would save their money in a financial institution like a bank. They are: a. For safekeeping. Keeping a lot of money at home is not safe whereas banks and their vaults are very safe b. To earn an interest - Banks pay us an interest for having us deposit our money with them. This is an added incentive for people to park their savings with banks.
Can I deposit a money order into my checking account?
Yes, you can deposit a money order into your checking account at most banks and credit unions.
What keeps you bank deposites safe?
The Central Banks of the countries ensure that the money deposited in the banks in their country are safe. For Ex: Reserve Bank of India for India and Federal Deposits Insurance Corporation for USA ensure that customers do not lose out on the money they deposit in their bank accounts and that banks pay back customers every rupee/dollar they put into their accounts.
How do banks benefit from people with savings deposit?
The banks loan out the money on deposit at higher rates of interest than they pay the depositors. Since most people keep their savings on deposit for long periods, the banks are able to do this. If everyone came at once and asked for their money, the bank would fail.
