When you deposit money in the bank : Who owns it?. You or the bank

[johnny333]

If you need to resort to this....your net worth must be at least in the high 8 digits.

Nowadays it is easy to invest outside of Spore. Have been doing it for donkey years.

Initially invested outside of Spore for the better returns. Since then have heard of worrying stories about money deposited in Spore banks. Some indonesians were told they couldn't take their money out during the financial crisis. Some saw their money disappear from their accounts in Spore.

 

[ray_of_hope]

Malaysia appears to have strict banking laws. If you do not live in Malaysia you apparently cannot open a bank account there.

 

[kingrant]

That measn if you hand them $10 they will loan out $9 to roll and keep $1 as govt requirement. Otherwise, they may even loan out all $10, hoping you wont come back so soon for the whole sum. You dont understand still, can pass the money to me, I'll keep for you. Of cos I'll pay you yr interest lah.

Say into a saving accounts, paying pittance on interest anyway, the crux is, is the banking holding it in trust for you, or as I have come to read, it becomes a liabilities, in the bank balance sheet.

Fractional banking, this term has been mentioned many times, means what?.