Here’s Why You Can’t Have More Than $922 Trillion Dollars In Your Bank Account
Does your bank account balance have a limit? Technically, yes.
This video was made possible by our Patreon community! ❤️
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A little while ago a photo of an ATM receipt caused a bit of a stir because it had a balance slightly shy of 100 million dollars, in a regular old bank checking account.
The thought of opening up your phone bank app to find nine figures looking back at you is obviously very compelling especially in a day and age where some 40% of Americans would have to go into debt to cover an unexpected $400 expense.
This receipt was later revealed to belong to a former hedge fund manager who was keeping the cash in a bank account in anticipation of an upcoming investment, but this begs the question.
How much money can you keep in a single bank account?
The answer most banks will give you is that there is no limit, and for the most part this is effectively true. What’s more, is that of course banks will tell you this because they really need depositors’ money to use as collateral for borrowing more money which they will then invest or lend out to the general public which is how they make their profits.
But there is much more to it than that.
Enjoyed the video? Comment below! 💬
⭑ Enjoyed? Hit the like button! 👍
✉️ Business Enquiries → EconomicsExplained@ibg.yt
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#BankBalance #Finance #EconomicsExplained
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ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏
Support EE by becoming a Patron today! 👉 https://www.patreon.com/EconomicsExplained
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas
Видео Here’s Why You Can’t Have More Than $922 Trillion Dollars In Your Bank Account канала Economics Explained 2
This video was made possible by our Patreon community! ❤️
➡️ https://www.patreon.com/EconomicsExplained
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
A little while ago a photo of an ATM receipt caused a bit of a stir because it had a balance slightly shy of 100 million dollars, in a regular old bank checking account.
The thought of opening up your phone bank app to find nine figures looking back at you is obviously very compelling especially in a day and age where some 40% of Americans would have to go into debt to cover an unexpected $400 expense.
This receipt was later revealed to belong to a former hedge fund manager who was keeping the cash in a bank account in anticipation of an upcoming investment, but this begs the question.
How much money can you keep in a single bank account?
The answer most banks will give you is that there is no limit, and for the most part this is effectively true. What’s more, is that of course banks will tell you this because they really need depositors’ money to use as collateral for borrowing more money which they will then invest or lend out to the general public which is how they make their profits.
But there is much more to it than that.
Enjoyed the video? Comment below! 💬
⭑ Enjoyed? Hit the like button! 👍
✉️ Business Enquiries → EconomicsExplained@ibg.yt
Follow EE on social media:
Twitter 🐦 → https://twitter.com/EconomicsEx
Facebook → https://www.facebook.com/EconomicsEx
Instagram → https://www.instagram.com/EconomicsExplained
Discord → https://discord.gg/MJGcTH6
#BankBalance #Finance #EconomicsExplained
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
ECONOMICS EXPLAINED IS MADE POSSIBLE BY OUR PATREON COMMUNITY 👊🙏
Support EE by becoming a Patron today! 👉 https://www.patreon.com/EconomicsExplained
The video you’re watching right now would not exist without the monthly support provided by our generous Patrons:
Morgon Goranson, Andy Potanin, Wicked Pilates, Tadeáš Ursíny, Logan, Angus Clydesdale, Michael G Harding, Hamad AL-Thani, Conrad Reuter, Tom Szuszai, Ryan Katz, Jack Doe, Igor Bazarny, Ronnie Henriksen, Irsal Mashhor, LT Marshall, Zara Armani, Bharath Chandra Sudheer, Dalton Flanagan, Andrew Harrison, Hispanidad, Michael Tan, Michael A. Dunn, Alex Gogan, Mariana Velasque, Bejomi, Sugga Daddy, Matthew Collinge, Kamar, Kekomod, Edward Flores, Brent Bohlken, Bobby Trusardi, Bryan Alvarez, EmptyMachine, Snuggle Boo Boo ThD, Christmas
Видео Here’s Why You Can’t Have More Than $922 Trillion Dollars In Your Bank Account канала Economics Explained 2
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