Banks

                                                    

                                                                                            

                                                    Banks 

Banks are a place where you can trust and store your money without worrying about getting stolen. Banks can give your money to others but remember banks don’t give the money away for free. If banks do give your money to someone else that person has to pay back,  For example, a lady asks for 200$ and the bank takes money out of your account and gives to the lady soon the lady returns and pays the bank the 200$ and the bank pays you the 200$ back. It’s basically working in a circle.

What’s the difference between a piggy bank, safe and vault?

Piggy banks are a place for kids to store their money that has been given to them by their parents.

 A safe is a place where people store their money. For instance, you have money that you don’t want to put in your account. The bank automatically put it in a safe but a safe is not as secure as a vault. 

A vault is secure and spacious. A vault is a place you can trust the most to store something too precious to you like jewellery.

When did banks start?

The idea of banks began as long ago as 1,800 BC in Babylon. In those days moneylenders made loans to people. In Greece and Rome banks made loans and accepted deposits. In that time money was very different and banking was very different.

What is the importance of community banking

community banks provide almost one-half of small business loans, more than 40%of farm loans, and over one-third of commercial real estate loans across the country.