When I see the picture of our banks in my country's, it seems lots of people in the line to withdraw their funds. An analysis of my country says that people keeping funds on their hands instead of keeping into the bank. And it hasn't happened before where a huge amount of funds holding by population. Bank reports saying, clients are just withdrawing their money, deposits are very low by comparing with withdrawal. That's why people encountering lots of questions from the bank regarding withdrawal. Most likely due to the global pandemic, people want to keep funds on their hands.
I don't know if it is happening in your country as well. But seems people losing their faith from centralized organizations like a bank. It would happen due fair of bankruptcy or due to need money on emergency situations. On the other hand, gold and bitcoin movements saying that new investors getting in. Most probably people want to be their own bank.
What's your thought and what's the real situation of your country?
That long line may be the result of people panic with regards to the COVID-19 escalating concerns. I am sure they think that it is better to hold their money than letting banks hold it for them in this time of crisis. I do not think this is connected to the trust matters but rather the availability of funds when it is needed. It is convenient for us to have an available fund in hand rather than going to the bank every time we need the money. So I believe the actions of those people who is withdrawing their fund is more inclined to convenience than having no trust on banks.