If the FDIC only insures 100,000 for each account. do they have like a thousand accounts?
2007-01-25 18:06:53 · 5 answers · asked by Dan S 2 in Business & Finance ➔ Other - Business & Finance
it gets tied up in stocks and other lil investments.
2007-01-25 18:12:58 · answer #1 · answered by Jeff B 3 · 0⤊ 0⤋
Other than operations they have different departments/section like treasury department, Accounts & finance department. Under the guidelines of BOD, Finance department allows to open a current account for day to day transactions (throu: cash, cheques, Letter of credit etc.) They keep minor cash in office to meet day to day requirement. They usually fix some limit e.g. cash payment allowed upto Dollar 5000 and for above a cheque will be issued). Staff salary & benefits usually transfer through accounts not in cash.
2007-01-26 02:22:38 · answer #2 · answered by hyderali_baig 1 · 0⤊ 0⤋
Electronically. No need to maintain large amounts of cash. Cash is old fashioned.
2007-01-26 02:15:30 · answer #3 · answered by judgebill 7 · 0⤊ 0⤋
they have private accounts in banks all over the world.. a favorite is swiss banks but there are private banks that are just for this purpose only known to them ..also alot of their monies are tied up in investments.. so its not like they are liquid assets it takes time to convert to liquid.
2007-01-26 02:12:15 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They keep their money under the counter ;-)
2007-01-26 02:11:09 · answer #5 · answered by daniel_156 2 · 0⤊ 0⤋