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This is a robbery
(sh.itjust.works)
No. This is a bank
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this post was submitted on 18 May 2024
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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.