What would happen if I walked into a bank to deposit $1 million dollars in cash? Do most banks have machines that do the counting? | Homework.Study.com (2024)

Question:

What would happen if I walked into a bank to deposit $1 million dollars in cash? Do most banks have machines that do the counting?

Bank:

A bank is a financial institution that is responsible for accepting savings and providing loans to consumers and businesses. Banks also offer other services like money withdrawal, mortgages, fixed deposits, and money transfers. Most banks nowadays have online services, making it easy for consumers to access their funds and make payments without leaving their homes.

Answer and Explanation:1

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Yes, every bank has a currency-counting machine. The bank uses it for regular amounts of money, not just for large cash deposits, to ensure that the...

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What would happen if I walked into a bank to deposit $1 million dollars in cash? Do most banks have machines that do the counting? | Homework.Study.com (2024)
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