When transferring money from one bank to another digitally, what exactly is being transferred?
In: Economics
They obviously don’t literally transfer the money, it’s more of like the permission from you to the other bank to let the “certain person” (other accounts) take out money from them. Imagine it’s all borrowed money , the same money you put in your won’t get back , you’ll get back the same amount but Not that EXACT money. If everyone decided to withdraw all their money at once the bank would run out. It’s always borrowed money.
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