How do I grow deposits in banks?

Answer The Basic ProcessFind out about the interest rates offered for various deposits at your bank. Your money grows through interest, which is money the bank pays you for keeping your money in their cus... Read More »

Top Q&A For: How do I grow deposits in banks

Why Do Commercial Banks Maintain Deposits with the Fed?

U.S. commercial banks are required to maintain deposits with the Federal Reserve Bank (Fed) in order to provide banking services to its member banks that include the processing and clearing of chec... Read More »

Over what amount do banks report deposits to the IRS?

Federal law requires that all banks report any cash deposits made in excess of $10,000 in the hopes of discouraging money laundering, rather than tax evasion. I'd worry more about the FBI/FDIC ins... Read More »

If money doesn't grow on trees then why do banks have branches?

They dig deep roots into your savings and as of now, also into your tax

Why do banks loan money to other banks?

Banks loan money to other banks to maximize returns on excess funds and to comply with reserve requirements imposed by the government. Since banks try to maximize the return on all deposits, lendin... Read More »