what does the bank or credit union do with the money that is deposited?

Related Answers

Explore the latest questions and answers related to "what does the bank or credit union do with the money that is deposited?"

Answered: Credit union or bank?

The best way to decide what account to open is go through the online business bank account reviews that are available. This article provides a list of all the places you can go through the reviews of banks that offer business checking accounts. The best places online to look at reviews of business ...

Answered: When you deposit money in the bank ...

Nanny has it right. Your money is now the bank's money to lend. You have a claim on the bank's assets, and in ordinary circumstances you will be able to get back the amount you deposited. But the bank's cash reserve is only about 5% of the deposits. If there is a run on the bank, they might ...

Answered: I want to register myself for mobile banking services, I already have a

Mobile banking services can easily be availed if you already have a credit card of the bank. You would need to log in to the site, give in your account number, credit card number and your card expiry date. Your mobile will receive an authentication number which you would have to type in and you are ...

Answered: What are the exciting credit card offers do we have in UAE Banks?

You can find objective information and compare credit cards from 27 UAE banks here .

Answered: How can I use the cash deposit features at ATMs?

Some ATMs require envelope deposits for cash, so you don't get credited right away for your deposit. Others have a cash counter, where you put the bills in a bin (make sure they're face up and all facing the same way), it closes and then verifies the bills. The screen will show the amount, and if ...

Answered: Bank for guidance?

DBS Bank provides advice on tax saving fixed deposits within a couple of days after thoroughly analyzing your documents. You can also fix a meeting with one of its relationship manager to solve your queries and take free of charge guidance. DBS Bank has experienced and technically sound financial ...
Liked this question? Tell your friends about it

More Questions

I’ve an another account with a bank. But now I need another one. Please

Good Day My Name is Dorene Zeller i am from United State I saw your question regarding a loan. i got a loan the sum of $300.000 from a legitimate loan lender called DENNIS HOPKINS FINANCE HOME. you can contact them for financial Help. You are 100% Guarantee receiving your loan without any delay ...

I won some money, which safe deposit box is best?

Why would you want to put it in a safe deposit box? Its more for things like jewelry, important documents, etc. I would suggest you invest or deposit it into a bank; at least the fixed deposit rates can earn you some interest…

According to you’ll which bank in Dubai is leading in retail banking?

In retail and business banking , ADCB bank in Dubai has some good features. It provides short & long term loans for businesses, capital and project funding for early business set up. For more on this, check with the bank

How to do the renewal of my fixed deposit account?

You can give new maturity instructions to DBS Bank a week prior to the maturity date. In case you have failed to do so, they will do the automatic renewal with the prevailing interest rates. Mouth of word has played a significant role in the fixed deposit promotion of DBS Bank.