3 Responses to When You Have An Online Savings Account, Where Is The Money Physically.?

  1. Auntie Mame says:
    February 27, 2010 at 6:22 pm

    Most of the money in banks, either the one down the street or online exists only as an entry in a database. The money does not exists physically anywhere. Yes, they do keep a few percent in currency for customers that want it, but it just comes back to them when you spend it.

  2. MELANIE says:
    February 27, 2010 at 9:42 pm

    In a bank or financial institution. Even physical down the street banks have online banking. It is just a vehicle to access your account.

  3. Steve R says:
    February 27, 2010 at 11:09 pm

    Banks have to keep a certain percentage of money on hand, but most banks make money by lending it to other people. So, part of your money might have been lent out to someone buying a car, or a house.