How is it possible to say there is no money in the bank

dezoel

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Quote from: CageMabok on May 01, 2024, 03:04:52 AM

It seems like you don't understand the banking system so you say things like this without thinking that the bank always turns its money into other things through the customer money they have and when there are customers who withdraw large amounts of cash. The bank will definitely have difficulty in serving it for a full day because they have to take money from other places to cover it so everyone should think a little logically that the bank could go bankrupt if all their customers withdraw all the money they have saved in the same time The same.

If you don't believe what I'm saying, you can do your own research into what banks do with their customers' money. And I'm sure you will find the answer quite surprising because the bank also really wants to make a profit from the customer's money that they hold so I'm not surprised that when there are customers who withdraw large amounts of cash, the bank has a little difficulty in fulfilling it. Even though this can be handled, in that one day, it will definitely be a bit of a hassle to prepare the cash.

If he comes back to read this, he will now know it. Let's also hope that others will read this or do their research first about the banks so that they will know what to expect.

By there, it will now be up to them to take risks and consider the hassle in exchange for the safety of their money and earning some interest out of it or they will just keep it and invest on their own instead. Safety can still be attained if they will be very careful, vigilant and always does their research. I also prefer this because it gives me more freedom and profit, much more if I will convert my money into Bitcoin because it is decentralized and has a very limited supply.

Yukyzu

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Quote from: Z_MBFM on May 01, 2024, 08:59:21 AM

Yes banks do not hold any money they take customer money and lend it to other customers. the bank only gives us a pure number of rupees. Bank runs on customer money if customers start withdrawing their money from the bank together then no matter how strong the bank is, the bank is bound to go bankrupt. so it must be said that the bank has no money. But we live in such a society where we all trust the bank so much that we are happy with the digits given by the bank so the bank can run their own business with our money.

It is true that banks do not keep the cash that customers keep with them and the bank uses the money to lend to those who need loans and I agree with what you say if the bank only gives the numbers recorded in the savings book that we have but if the customer save their money at a bank, want to withdraw all the savings they have, of course the bank will provide conditions that we have to fulfill in order to be able to withdraw it and if you want to withdraw a large amount, of course it requires a long process, for some people who still trust the bank, of course They will continue to save their money in the bank and will not get any profit and the bank is more profitable. If we want to run a business with the capital we already have, of course that is very good, but we have to really understand the business well.

erep

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Quote from: Z_MBFM on May 01, 2024, 08:59:21 AM

Yes banks do not hold any money they take customer money and lend it to other customers. the bank only gives us a pure number of rupees. Bank runs on customer money if customers start withdrawing their money from the bank together then no matter how strong the bank is, the bank is bound to go bankrupt. so it must be said that the bank has no money. But we live in such a society where we all trust the bank so much that we are happy with the digits given by the bank so the bank can run their own business with our money.

The way banks make profits is considered very bad because they use customers' savings funds to run their profits from loan programs, they determine the amount of loan interest which is detrimental to borrowers even though the bank has to share loan interest profits with customers, banks only share low profits for customers but are not equal to the interest profit earned every month from the borrower.

However, you are right that we always have difficulty withdrawing large amounts of money, they will always argue that they do not have savings that match customer withdrawal requests but they provide cash reserves to process high loans for anyone, that is the disadvantage if you keep money in the bank.

Z_MBFM

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Yes banks do not hold any money they take customer money and lend it to other customers. the bank only gives us a pure number of rupees. Bank runs on customer money if customers start withdrawing their money from the bank together then no matter how strong the bank is, the bank is bound to go bankrupt. so it must be said that the bank has no money. But we live in such a society where we all trust the bank so much that we are happy with the digits given by the bank so the bank can run their own business with our money.

moneystery

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if countries borrow money from other countries to finance projects in their country, it is not because the country does not have the money to finance these projects, but because when they use all their resources, it will threaten the state budget, and therefore they make a loan. and international loans usually have low interest rates, so governments often borrow to finance their strategic projects.

and discussing someone who needs money for urgent matters but the bank says that they don't have the money for that, it's not because the bank doesn't have the money, but they ensure that there is no large flow of money leaving their institution, to protect their cash. so they will usually assume that at this time they do not have money or that the customer can get money, but within a few days. it's annoying, but if you understand the banking system you should know the reasons why they do things like this.

Cryptoprincess101

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Quote from: lovesmayfamilis on January 04, 2024, 03:09:44 AM

After reading the thought about the river, I also had an association with dried-up rivers; in my country, this is a fairly common occurrence. So, OP, stop being surprised. Your post history shows that you are from Nigeria. Such problems with the shortage of fiat currency did not arise yesterday; this was reported already at the beginning of 2023. It's sad that the government can't or won't fix the financial structure in your country, but as an alternative, you can watch your brothers explore investing in Bitcoin. This will be completely out of the control of the banks, especially since the recent news regarding Bitcoin in your country has been very positive.

You've just given a proper answer to OP, I am happy with your response because a lot of people don't even know the reason why Bitcoin is freedom because basically you have access to it, transact any amount you want, hodl it as long as you wish to provided they are kept in a safe non custodial wallets and your seed phrases kept safe. The best decision anyone of this modern day technology can take is to invest in Bitcoin in order to become autonomous of their financial decisions without intervention of the government or any third party organization. Bitcoin is surely an end to fiat currencies because as soon as it's adoption is accepted globally, fiat will become valueless.

Agbamoni

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Quote from: indah rezqi on April 27, 2024, 12:49:09 PM

In terms of security, saving money in a bank is safer than at home, because we get insurance coverage if something happens. But in terms of profits, the bank gets bigger profits than the customers, although there is another process which we call profit sharing. But the profit sharing is not much, the Bank will use customers money to distribute credit, invest and so on, and in essence the Bank will use customers savings to seek greater profits. That's how banks work from the start, they survive and run their business by using customers money.

Apart from that, there are many reasons why many people still save money in banks, one of which is the ease of access when needed. Meanwhile, some people save money in banks as deposits, in this case each bank has its own regulations for the amount of profit sharing, in essence customers can get bigger profits. But personally, I tend to choose to invest in gold and property rather than saving money in the bank, because the value of the money we have will not disappear due to the influence of inflation.

You have mentioned some good points. But in my country i rather saved my money in a digital bank system than the traditional bank system. In the traditional bank system, you don't access any amount you want anytime any day. When we go to the bank to take some money, they tell us the maximum amount we can take which is very small. Its better we make use of the ATM. or POS services in the country if not relying on the traditional bank is like a waste of time.

In this era it has come to the extent that the traditonal bank is for bigger purposes like taking loans, investing in the dollras or euro currencies or going there for customer services. If any indidvidula do not need all these services i mentioned it is possible that such persons can stay a decade without going to the traditional bank.

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Quote from: Zanab247 on February 26, 2024, 09:48:40 AM

I don't know why some people are still saving some huge amount of money in the bank when they know that bank officials are using the money to do other business to make more profits before they will return back to start cutting the money to pay those that deposited the money in the bank.

But if bank officials are giving such excuse to their customers in the country, show that their government is not doing the right thing because any government that is working well, the government will always instruct the central bank to make money in circulation for banks and citizens to feel in their different businesses.

Imagine that you have millions of dollars, where are you going to safely store these money? You can't safely store them in your house, so, banks are your best bet. If you have some hundreds or thousands dollars, then you can store them in your house. Usually people, who want quick access to some amount of money online, store money in banks. Also, companies have no other choice but to store money in bank accounts.
But you know, those who control the money, control everything. So, banks and governments work together

Uhwuchukwu53

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The bank saying there is no money can't be related to river the comparison don't corrolate, reason because bank has a source that supplies the note but river has not even the source can't be control by human unlike the case of bank, we should first nite that what ever that is control by human must have some limitations to which it function will work perfectly, only few person can store water but people withdraw money and stored in their houses without depositing to bank and bank has a number of printed money to circulate and can't go behind what is already give to circulate if they have exhausted it by those that have withdraw they now depends on those who made deposit to give out who ever demanding withdrawal.

Another aspects is the fact that bank is a business they uses your deposit to borrow investors which some time frame if the borrowed money have been meant can't demand for it thereby limiting them on the money they have at have to give back their customers who have deposited money this can leads to the statement of no money and others numerous issue I can't put up in writing here.

CageMabok

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Quote from: SlowPP on April 27, 2024, 11:04:15 AM

We face alot when it comes to withdraw your savings in the Bank , banks also run out of cash ah times but isn't and never will it be possible that there's no cash in bank there may not be enough cash for your demands you want to withdraw at the particular moment.bank as it own problems with customers ,the cashier can even utter a word you will be very annoyed with unto your savings money you want to withdraw.

It seems like you don't understand the banking system so you say things like this without thinking that the bank always turns its money into other things through the customer money they have and when there are customers who withdraw large amounts of cash. The bank will definitely have difficulty in serving it for a full day because they have to take money from other places to cover it so everyone should think a little logically that the bank could go bankrupt if all their customers withdraw all the money they have saved in the same time The same.

If you don't believe what I'm saying, you can do your own research into what banks do with their customers' money. And I'm sure you will find the answer quite surprising because the bank also really wants to make a profit from the customer's money that they hold so I'm not surprised that when there are customers who withdraw large amounts of cash, the bank has a little difficulty in fulfilling it. Even though this can be handled, in that one day, it will definitely be a bit of a hassle to prepare the cash.

indah rezqi

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Quote from: Gaza13 on April 27, 2024, 12:06:12 PM

Quote from: Zanab247 on February 26, 2024, 09:48:40 AM

I don't know why some people are still saving some huge amount of money in the bank when they know that bank officials are using the money to do other business to make more profits before they will return back to start cutting the money to pay those that deposited the money in the bank.

But if bank officials are giving such excuse to their customers in the country, show that their government is not doing the right thing because any government that is working well, the government will always instruct the central bank to make money in circulation for banks and citizens to feel in their different businesses.

Many people don't know this, friends, they still think the bank is safe for storing their assets rather than keeping their money in their own homes. This is why many people still trust banks in every way, for their monthly deductions, they don't really blame them in general because they have been told this since the beginning. Regarding whether they use the money or not, they don't know because this is a bank working system that is not published to the public.

In terms of security, saving money in a bank is safer than at home, because we get insurance coverage if something happens. But in terms of profits, the bank gets bigger profits than the customers, although there is another process which we call profit sharing. But the profit sharing is not much, the Bank will use customers money to distribute credit, invest and so on, and in essence the Bank will use customers savings to seek greater profits. That's how banks work from the start, they survive and run their business by using customers money.

Apart from that, there are many reasons why many people still save money in banks, one of which is the ease of access when needed. Meanwhile, some people save money in banks as deposits, in this case each bank has its own regulations for the amount of profit sharing, in essence customers can get bigger profits. But personally, I tend to choose to invest in gold and property rather than saving money in the bank, because the value of the money we have will not disappear due to the influence of inflation.

Gaza13

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Quote from: Zanab247 on February 26, 2024, 09:48:40 AM

I don't know why some people are still saving some huge amount of money in the bank when they know that bank officials are using the money to do other business to make more profits before they will return back to start cutting the money to pay those that deposited the money in the bank.

But if bank officials are giving such excuse to their customers in the country, show that their government is not doing the right thing because any government that is working well, the government will always instruct the central bank to make money in circulation for banks and citizens to feel in their different businesses.

Many people don't know this, friends, they still think the bank is safe for storing their assets rather than keeping their money in their own homes. This is why many people still trust banks in every way, for their monthly deductions, they don't really blame them in general because they have been told this since the beginning. Regarding whether they use the money or not, they don't know because this is a bank working system that is not published to the public.

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Quote from: MFahad on January 04, 2024, 05:42:48 AM

Quote from: Bright0515 on January 03, 2024, 04:34:59 PM

In this recent economy we have witnessed some hardships financially and many other aspects now coming to say there is no money in the bank how possible is that can you imagine saying the river has no water? We are in the new year now huge sum of money have been signed by the government for projects but in a very short time they suddenly come out to say the country is running out of funds the country needs to borrow money from other countries the money signed in your own country where are they what is the duty of the bank in your country imagine a bank giving you the maximum amount you as a the account owner can withdraw from your own account sometimes I just feel like the bank isn't a safe place any more.
Come to think of it what if someone has a very serious score to settle for example someone who has health issue and needs money urgently then you go to the bank and they tell you there is no money in the bank for now so where does the bank want people to save their money if the bank at some times can be this disappointing should we go back to the system as at the old days where you bury your money or put them in your ceiling for safety please it's no joke anymore banks should try to be reliable as to gain trust from customers because many people are not comfortable with this system

I don't know what country you are from, but the country I live in has a lot of the problems you point out. Keep as much money as you want in the bank, but you have to face many problems while withdrawing. Many times the money cannot be withdrawn due to a malfunction in the bank's system. In case of emergency, chances are high that you will not get money in the bank and often you have to face problems due to rush, because our system is such that people are withdrawing money all the time. There are often long queues outside banks and ATM machines.

It is difficult to go back to the system like old days but banks should try to improve their system as much as possible. However, the necessary money should always be already available at home, because in case of emergency, you may face failure from the bank. People are not satisfied with the system because they have to go through painful steps to withdraw their money. The bank system is running on our money and yours, but the account holder has no value. We keep money in the bank under compulsion, because we have no other safe way.

We face alot when it comes to withdraw your savings in the Bank , banks also run out of cash ah times but isn't and never will it be possible that there's no cash in bank there may not be enough cash for your demands you want to withdraw at the particular moment.bank as it own problems with customers ,the cashier can even utter a word you will be very annoyed with unto your savings money you want to withdraw.

Zanab247

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It sound some how to me, when you go to the bank to withdraw what you have saved in their hands and they will be telling you that they are run out of cash in the bank, not knowing that they have invested your money in some projects that will profit them in the future.

And the law is still backing such bank up for their customers not to take a serious action against them or sue them to court because they have the right to tell their customers when the money will be available in the bank for them to have access to their money.

This situation has made many companies not to save all their money in the bank, than to store some in the cryptocurrency because things like this can come up and it will going to affect their production and workers, if they don't have alternative.

Yaqs15

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Quote from: tbterryboy on February 20, 2024, 11:54:32 AM

They don't have a single or just a few ventures so they get out of money if they lose money in some of their ventures, they don't lose money in the first place because they don't make investments or accept commodities and stuff that they know are not going to get them any profit in the first place, and even if they do it sometimes, they have a lot of ventures going on at one time and they earn more money than they might lose in some of those ventures.

So, this isn't more than an excuse if they say that they don't have any reserves left because they have lost money in their investment ventures because a bank can never get out of money because of their business structure which allows them to always have money in their reserves and they are supposed to have reserves for every single penny they have of their customers.

Banks may claim to have no cash, but that doesn't mean they don't have penny. They have it, infact enough in their account but what it means some time is that, they can not afford to give you this amount you are requesting for now.
Also some time they use such statement to refer to a situation where they can afford to give you the amount but due to some policy place on currency, they may try to just save their time by using this simple statement to their customers.

Quote from: poodle63 on April 01, 2024, 07:44:59 PM

usually when someone need to withdraw huge amount of money they need to notice the bank before hand to ready the money before they can cash it out, it confirms your statement that bank usually just give back the money other people deposited for their liquidity so it does make sense that there's sometime no money in bank.
usually the bank themselves try to profit off the money deposited by investing it else where or give loan to people after all bank with their large scale of operation requires a lot of money if they don't do that i doubt there gonna be any bank office in every city.
there's reason why there exist term called Rush Money where people taking their money off banks due to mistrust and that usually causes bank to collapse.

Some times, banks 🏦 also utter such statement to customers when there are a lot of cashes outside the bank which they are trying to retrieve into the bank. when this kind of things happens, it makes the apex bank to place restrictions on the amount of cash to be withdrawn by customers. For example, Nigeria now is currently under going this kind of thing. Cash policy order is been given by the federal government that no customer should withdraw more than five hundred thousand naira in a week. So when things like this happen, it makes banks to claim no cash in the bank. but in reality, there is.

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Quote from: TEBTC on March 23, 2024, 09:56:52 AM

The truth is some times banks run out of cash due demand on cash and they only give out the cash that has been deposited by some one else
So it normal for banks to be with out cash and this normal happens during the seasons like X mass, Ramadan etc where people are celebrating and everyone is trying to withdraw money from the bank

usually when someone need to withdraw huge amount of money they need to notice the bank before hand to ready the money before they can cash it out, it confirms your statement that bank usually just give back the money other people deposited for their liquidity so it does make sense that there's sometime no money in bank.
usually the bank themselves try to profit off the money deposited by investing it else where or give loan to people after all bank with their large scale of operation requires a lot of money if they don't do that i doubt there gonna be any bank office in every city.
there's reason why there exist term called Rush Money where people taking their money off banks due to mistrust and that usually causes bank to collapse.

Fortify

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Quote from: Bright0515 on January 03, 2024, 04:34:59 PM

In this recent economy we have witnessed some hardships financially and many other aspects now coming to say there is no money in the bank how possible is that can you imagine saying the river has no water? We are in the new year now huge sum of money have been signed by the government for projects but in a very short time they suddenly come out to say the country is running out of funds the country needs to borrow money from other countries the money signed in your own country where are they what is the duty of the bank in your country imagine a bank giving you the maximum amount you as a the account owner can withdraw from your own account sometimes I just feel like the bank isn't a safe place any more.
Come to think of it what if someone has a very serious score to settle for example someone who has health issue and needs money urgently then you go to the bank and they tell you there is no money in the bank for now so where does the bank want people to save their money if the bank at some times can be this disappointing should we go back to the system as at the old days where you bury your money or put them in your ceiling for safety please it's no joke anymore banks should try to be reliable as to gain trust from customers because many people are not comfortable with this system

I don't know why you think banks seem to owe you something or that they are somehow a charity for whatever personal crisis that you may be undergoing. While I would never wish bad health on anyone and some countries have a diabolical standard of public healthcare, these banks are a business that has a duty to make money for its shareholders. Nobody is getting told "there is no money in the bank" as that's a stupid concept, unless you mean there is no money in someones individual bank account. Anyone who understands even the most simple facts about business and finance would not get as confused as you seem to be. If you want money, you generally have to work and accrue it that way, otherwise you might be out of luck if you cannot rely on government welfare.

lixer

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No water in the river may be unusual but no money in the bank is normal for many people because not everyone is rich. The arrogant officials of my own country are thieves who are pocketing the government's money. Moreover all these officials are suddenly getting rich and poor people are getting poorer day by day. However, at this time most people are floating in a desperate situation because the economic condition of my country is a major direction of helplessness. More money is needed to start a business, so middle class families are worse off.

Unfortunately, a lot of countries are going through the same thing because people who are in power are not honest with their country and when that happens, there is no doubt there won't be much money to go around in the country. Besides, banks are not trusted by everyone in the population, so a big reason why banks might not have money is that people these days prefer keeping their money somewhere else rather than keeping it in a bank because they don't trust them or they simply don't like them.

Apart from that, at times of festivals and events such as Christmas, etc., people tend to cash out money from their banks to be used for holidays and the events, and this can also be a reason why banks might be out of money during such times. I think this is something quite normal.

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Quote from: TEBTC on March 23, 2024, 09:56:52 AM

The truth is some times banks run out of cash due demand on cash and they only give out the cash that has been deposited by some one else
So it normal for banks to be with out cash and this normal happens during the seasons like X mass, Ramadan etc where people are celebrating and everyone is trying to withdraw money from the bank

This often happens, during major holidays there are large withdrawals due to welcoming the holidays so it is not surprising that most banks run out of money. Even if you want to withdraw a large amount of cash, you need to inform the bank in advance because not all bank branches have large amounts of cash. This is why I never save money in the bank in larger amounts, because the money in the bank is only a number. What actually happens when we save our money in the bank is that the money will be lent to other customers. That's why it happens a lot. Those who save cash find it difficult to actually use the cash. So there is no point in keeping cash other than for emergency purposes, we are better off investing in bitcoin and gold.

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No water in the river may be unusual but no money in the bank is normal for many people because not everyone is rich. The arrogant officials of my own country are thieves who are pocketing the government's money. Moreover all these officials are suddenly getting rich and poor people are getting poorer day by day. However, at this time most people are floating in a desperate situation because the economic condition of my country is a major direction of helplessness. More money is needed to start a business, so middle class families are worse off.

Topic: How is it possible to say there is no money in the bank (Read 1379 times)