how about if we all went to the banks at the same day to withdraw all your money? :-)?

Answer 1

The banking system would crash. That's what happened in the 1920s and many bank went bankrupt.

Answer 2

The banks would definately crash. No bank carries a lot of cash on hand for reasons mentioned already and also probably bank robberies. I live in a small town and standing in line at a bank a gentlemen was told to come back the next day as he wanted to withdraw $5000 cash. They did not even have that available. I would not want to try all going on the same day!

Answer 3

as has been said, it would be a disaster. Although banks have huge amounts of assets, they keep very little of that liquid at any one point (i.e. in cash at the branches). Most of it is tied up in investments, and would take time to convert to cash. If we all went to our branches at the same time and tried to withdraw everything, the money would run out after a few thousand people - completely. The liklihood from that point is that the banks would try to convert some of their assets into cash to sustain the demand, and be hit by ill favourable markets, and rapidly decreasing liquidity, not get much money for them and the vicious circle would continue.

Basically, yes, the banks would crash and so would the financial services industry. Let's not try it.

Answer 4

plenty people will not be able 2 get their money d same day 'cos most banks use people's money 4 business and do not hv large sums of money readily available to all their customers at once... and all d thieves in d society are goind 2 hv a filed day because their will be plenty 2 still, just go and knock on any door (lol)

Answer 5

The systems will diffinately have to crash. The Central bank will have to open wide thier reservs wells. But I will definately not go on tht day I will go on the next!

Answer 6

What a mass confusion that would be! I guess I would have to go to the bank early!

Answer 7

it would be crowded at the bank I'll go tomorrow