No. This is a bank
this post was submitted on 18 May 2024
929 points (99.5% liked)
memes
10397 readers
1909 users here now
Community rules
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads
No advertisements or spam. This is an instance rule and the only way to live.
Sister communities
- !tenforward@lemmy.world : Star Trek memes, chat and shitposts
- !lemmyshitpost@lemmy.world : Lemmy Shitposts, anything and everything goes.
- !linuxmemes@lemmy.world : Linux themed memes
- !comicstrips@lemmy.world : for those who love comic stories.
founded 1 year ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
Fractional reserve.. technically zero is a fraction.
Not sure what you mean, but my bank has like 70+ locations in my country.
In 2012 they apparently had 165 locations and 101 of those only had ATMs and no manual cash handling. My bank was the first with this large scale change but now every bank is essentially cash free. Hell, the whole country is essentially cash free.
Fractional reserve is a reference to banks needing to keep a fraction of their customers' deposits but are allowed to invest/lend out the rest. Some people think this means keep a fraction of customers cash on hand because liquid assets are often referred to as cash in accounting even if it isn't actually paper money.
Ah, I got you. Thanks for explaining.
I never imagined that any banks would ever keep cash in any large quantities. That seems like it would be extremely annoying for everyone when you can just let other companies handle the cash and ATMs and instead just send money digitally. I can imagine any banks has operated like that for a few decades at least.