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Reasons are as followes - 1) Security 2) Saving 3) Investment 4) Future Planning

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16y ago

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Why did the stock market crash take place?

Too many people got money from their stocks and the banks were running out of money. Everyone wanted their money, but the banks didn't give it to them. This resulted in everybody losing their money.


Why is people so important to banks?

People are the banks source of income. Basically people deposit their money into the bank and then the bank uses it. To make money, the banks then lend what they have to people so that they can buy a house (home lone). The people using the lent money must repay it over a period of time with addition to an interest payment. Therefore they end up paying back more than the lent in the first place, so the banks make money. So the banks need people.


What are the good reasons on tourism?

The people of the place can get more jobs and more money


Why did people of the Great Depression lose faith in banks?

The banks had been closed to be investigated and sound banks were unable to get their money while banks were closed. Once the sound banks reopened, most people gained faith back in the banks, but some people still had worries so they left their money in their matress or outside in their backyard buried in coffee cans.


What are the reasons why banks are regulated?

Banks are regulated because banking requires a certain amount of trust in the institution in which citizens place their savings. It's seen as a right of the public to have reassurance that their money is being handled responsibly and will be available to withdraw as needed.


Where is the best place to find money?

Banks. change pocket in your car.


Are there banks in assassins creed 3?

There aren't places that are specifically "Banks" with the money in them but there are wagons that are all over the place with that title.


What place do Parisians keep money?

Banks, just like the rest of us.


Where is money sent after its made?

When money is minted, the first place it goes is the Federal Reserve. The Federal Reserve is like the ultimate lender. All banks get their money from the Federal Reserve.


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.


Why does the FDIC place a limit on the amount of money it will insure?

As of 2013, the FDIC provides $250,000 worth of protection per depositor, per account. There is a limit because the purpose of the insurance is to encourage small depositors ("regular people," as opposed to the rich or huge corporations) to keep their money in banks. The main goal of the FDIC was to make sure that banks stay healthy, which can only happen if "regular people" have enough confidence to keep their money in the banks.


Why were banks created in the first place?

People did not feel safe with there cash so they made banks armed men that hold your money said to be safe but if the bank fell from any thing you can not get it back now and days it is different.