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A deposit is literally you lending money to your bank, payable on demand.
by tomatocracy 3y ago
A deposit is literally you lending money to your bank, payable on demand.
- neilwilson 3y agoThat’s not the point. The point is where what you have came from in the first place. A loan creates an advance. That advance is the bank owing a person in return for the person owing the bank. The advance is then used to pay you so you have a deposit. All that does is change the ownership tag on the advance.