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Who owns your money in a bank account you or the bank?
The person whose name is on the account owns the money. The bank holds it for them.
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What does the bank do with the money that they put into your account?
Two things. First, they record how much is supposed to be there, so when you come to withdraw some they'll know how much you can.Then they make loans with some of it. The interest from the loans, and...
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How do you put money into a bank account?
well, first you have to have money to place into said account, it could either be cash, or check, or money order in your name, etc. then you have to physically go to the bank, (the one that your...
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Why do banks put freezes on accounts?
Banks usually freeze accounts of customers for 2 main reasons:
Inactivity for a prolonged duration of time say 6 months or
Suspicious or illegal activities carried out using the bank account like...
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How do you put money in a bank account?
You can enter the bank during operating hours, and give the teller the cash and your bank account information, and they can help you. They may require you to complete a Deposit slip.
You can use an...