Bank money

in #finance7 years ago (edited)

Definition of Scriptural Currency

Bank money corresponds to sums deposited on the current accounts or chequing accounts opened by individuals or companies with financial institutions. Bank money is circulated through cashless means of payment, such as checks, bank transfers, withdrawals and cards.
Script money accounts for about 80% of the total money supply. It may at any time be converted into coins or banknotes. Cash is a simple set of accounts between accounts: an account is credited by the debit of another account.
Script money has been truly growing in the last thirty years. This phenomenon is directly linked to prohibitions on the payment of large amounts of cash or to the creation of non-cash means of payment such as checks or bank cards. The success of e-commerce has further favored this increasing use of bank money.

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