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Their money is safer because Swiss banks have a reputation for being discreet and tight with account s.

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10y ago

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Why do banks give interest on deposit?

Banks make money by lending money to people and charging people for borrowing. The amount banks charge is called interest. Banks borrow money from other people and pay them interest on the amount borrowed. Banks charge more interest on the money they lend than they pay one the money they borrow. That is how they make money. When people deposit money with a bank, the bank is literally borrowing money from some people so they can lend it to other people. That is why banks pay interest.


How bank create money?

Money is CREATED by governments, not banks. They store money. Banks also EARN money by loaning money to people. People pay the banks back more money than they borrow (interest)


Why do banks loan people money?

The banks loan people money because it is how banks earn money. The bank will loan out the money to people, and the people will have to pay back with interests so the bank will be making money by just loaning people money. That is why the banks owners get so rich. They will loan out money to a lot of people and they will put a high interest. When they get the money back, they will earn money without even doing any work.


What are the top 20 world's thriftiest savers country?

Switzerland is 1 of the top 20 of the world's thriftiest places. Many people throughout Switzerland put their money into banks. They have the highest savings rate of any country throughout the globe.


Why do banks loan money?

The banks loan people money because it is how banks earn money. The bank will loan out the money to people, and the people will have to pay back with interests so the bank will be making money by just loaning people money. That is why the banks owners get so rich. They will loan out money to a lot of people and they will put a high interest. When they get the money back, they will earn money without even doing any work.


What did people do before there were banks?

Before banks people put their money in safes


Where do people keep there money?

Most people keep their money in banks.


Who can lend you money for a house?

people at banks


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 innovations of IT in the banks?

IT companies do inovation in IT not Banks. Banks make large amounts of profit from money people put into the bank. IT companies make money on the volume of IT they sell


Do people from Switzerland come to new zealand?

Yes people from Switzerland still come to New Zealand for money,food and houses or even more land


When banks make loans the money supply increases or decreases?

When banks make loans, the money supply increases, since the people who receive these loans will have more money.