Hacker Read

chii · 2023-03-11 22:26:44

you don't pay employees from customer deposits.

adhesive_wombat | karma 5165 | avg karma 3.54 · | 2023-08-23 09:46:40

A cash deposit into a bank isn't a payment.

likecarter | karma 238 | avg karma 2.87 · | 2023-03-09 18:21:57

Well then customers won't get any interest. And therefore you will have no customers. And therefore no deposits.

enkid | karma 2936 | avg karma 2.98 · | 2023-01-09 23:48:59

Do they not make money off the deposits somehow?

dantheman | karma 7782 | avg karma 3.3 · | 2023-03-10 19:47:47

It's just fraud, demand deposits shouldn't be lent out.

forrestthewoods | karma 7529 | avg karma 2.6 · | 2024-03-31 22:45:33

Because you’re trying to plant backdoors you don’t want any paper trail?

Almost everyone does direct deposit. But it’s not a legal requirement for an employee to be paid that way.

wbl | karma 5517 | avg karma 2.11 · | 2020-09-21 00:03:33

You only have deposits if someone puts the deposits in.

FabHK | karma 14253 | avg karma 2.82 · | 2019-07-14 20:48:01

Then it's not a deposit.

venning | karma 1239 | avg karma 4.92 · | 2018-06-29 08:57:03+00:00

But the article isn't about offering deposits. It's about ordering.

doliveira | karma 1242 | avg karma 2.39 · | 2019-10-05 15:24:50

> nobody wants to screw around setting up direct deposit for one or two employees.

What's there to set up? You just ask for the account number and transfer it.

fhe | karma 718 | avg karma 7.72 · | 2021-10-27 03:11:06

banks don't own the deposits. in fact, deposits are liabilities on their balance sheets.

supertrope | karma 2072 | avg karma 1.58 · | 2023-08-02 16:56:13

No deposit no service.

HDThoreaun | karma 3963 | avg karma 1.46 · | 2023-03-11 00:09:14

It's not theirs, it's the depositors. And it's the depositors choice to leave it in the bank.

Beefin | karma 454 | avg karma 1.12 · | 2019-06-25 18:27:21

Yeah I was wondering why they don't enforce a deposit up front.

kayamon | karma 1535 | avg karma 3.16 · | 2023-03-11 19:10:23

Deposits don't need to have interest paid. It's entirely possible for the money to simply sit there and not be invested in anything.

iancarroll | karma 3156 | avg karma 3.15 · | 2014-06-11 07:45:39

Most ATMs won't let you deposit anyway.

treis | karma 8962 | avg karma 2.72 · | 2022-11-08 15:40:01

Banks say that they don't invest deposits?

johngladtj | karma 283 | avg karma 0.89 · | 2023-03-21 02:00:04

Depositors are investors, they're just not equity investors.

slac | karma 163 | avg karma 2.06 · | 2024-04-16 12:26:46

And there is no refund button for the deposit. I would have pressed it long ago.

noxer | karma 1257 | avg karma 1.02 · | 2020-12-27 16:31:49+00:00

they dont want your deposit. its useless to them. that's why you have to pay for bank services nowadays.