LOL no they dont.
The bank can & will tell you to come back in a day; a week; whenver TF they want.
I believe that for the vast majority of banks, the average customer is legally considered an "unsecured creditor" which puts you at the absolute back of the line for getting repaid in case it comes to it.
I am my own bank,I have reserves of shiny metal,and some folding cash for emergencies. I do have accounts to pay bills and such,but I don't keep much extra in them.
You should have your primary account as a credit union.
Credit unions, unlike banks, can only operate with the money they have in accounts.
Banks run on fractional reserve banking.
And the “fraction” during Covid was changed to 0%.
In other words, whatever they want to loan, they can.
if you loan out $100 but demand $107 to be repaid, the bank has to find a way to make that extra $7 available for you.
now multiply that by every loan ever loaned.
the system requires endless borrowing
which is why you see all this fraud and nobody seems to care
they just have to find a way to get that money into circulation,
by any means necessary
LOL no they dont. The bank can & will tell you to come back in a day; a week; whenver TF they want.
I believe that for the vast majority of banks, the average customer is legally considered an "unsecured creditor" which puts you at the absolute back of the line for getting repaid in case it comes to it.
At the end of the day.... It really doesn't matter because it all depends on what's in the ATM, which in most cases will be $0 if SHTF.
I am my own bank,I have reserves of shiny metal,and some folding cash for emergencies. I do have accounts to pay bills and such,but I don't keep much extra in them.