Describe how banks help to eliminate money.
What kind of money are you talking about? Taking paper money out of circulation?
Banks actually create money when they issue checking accounts for people and busineses they grant loans to. They also put a lot of paper money into circulation with ATMs.
You might say that the issuance of credit cards by banks has made most developed countries able to function with less cash in circulation.
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Decribe how banks eliminate money?
The bank is storing money therefore eliminating it off of the street and circulation.
1 answer