{"id":54569,"date":"2020-12-15T06:45:00","date_gmt":"2020-12-15T06:45:00","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=54569"},"modified":"2020-12-15T06:45:00","modified_gmt":"2020-12-15T06:45:00","slug":"how-your-bank-account-works","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/12\/15\/how-your-bank-account-works\/","title":{"rendered":"How your bank account works"},"content":{"rendered":"<p>Most people have no\u00a0clue how their bank account really works. A frighteningly\u00a0large number think that there is a pile of cash in the bank with their name on it if they're in what they call 'credit'. But actually, it's just an an account. The clue is in the name. And it just records who owes who money. Either the bank owes you, or you owe them. And it really is as simple as that. It's not hard, and simultaneously it is one of the\u00a0hardest things for anyone to accept - that money is just an entry in a computer and nothing more. I try to explain that here.<\/p>\n<p><iframe loading=\"lazy\" title=\"How your bank account works\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/DgUZmFiApiY?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Most people have no\u00a0clue how their bank account really works. A frighteningly\u00a0large number think that there is a pile of cash in the bank with<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2020\/12\/15\/how-your-bank-account-works\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35,174,106],"tags":[],"class_list":["post-54569","post","type-post","status-publish","format-standard","hentry","category-economics","category-modern-monetary-theory","category-politics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/54569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=54569"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/54569\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=54569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=54569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=54569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}