To be used for any generic banking question. If there is a product-specific question, specific tags like credit-card, savings etc. should be used. If there is an entity-specific question, descriptive tags like merchant, community, consumer, small-business should be used.

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0
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1answer
72 views

What does a negative balance in a checking account mean?

I just started using online banking, just to watch everything. I've notice that my current balance was -6.57?! Does the -6.57 mean I've overdrafted or something? Btw, it's a debt account..
2
votes
2answers
85 views

How to withdraw money from currency account without having to lose so much to currency conversion?

I'm trying to withdraw some money from Barclays currency account, but I don't know how without losing so much on the unfair conversion rate. For example, I've found the following rates (as per ...
-3
votes
5answers
139 views

Mortgage vs. Loan?

I understand the math behind how banks calculate the interest to principal ratio throughout the amortization period. I want to know why banks want you to pay as much interest as possible first? In a ...
-4
votes
2answers
95 views

What happen if I don't pay credit card and leave the country

I have a credit card debt of $600, five years ago in Newzealand. I left the country from then, now I live in Singapore. Will the Newzealand bankers come to Singapore and ask my bank to take money ...
-1
votes
1answer
26 views

I'm working in London and I'm earning in GBP how can I transfer the money to India what taxes would be incurred

Kindly inform me how could I transfer the money from UK and I'm working there for 4 years and does it cost the tax and how much.
0
votes
0answers
31 views

first credit card ever [closed]

okay so i just got my first ever credit card[chase, freedom].The only reason why i got the credit card is to build credit. I also have a checking account with chase. My credit limit is $500, the ...
3
votes
2answers
631 views

How does it look to jump around from bank to bank?

I've been with Bank of America for almost 10 years. They just told me that they are going to convert my free eBanking account to Bank of America Core Checking. Doing so I would have to pay $12/mo or ...
0
votes
1answer
66 views

Is there a way to open a U.S. bank account for my LLC remotely?

I'm operating a company remotely — I'm not in the U.S. Is there a way to open a bank account without going to the U.S.? I've called a few banks and most of them require myself to go the a ...
-3
votes
0answers
20 views

If banks started simply depositing money with each other, then what else? [migrated]

[Source:] If banks started simply depositing money with each other, all else aside, then what would happen? Keep in mind that the interest rate is basically the price of money. Supply-and-demand ...
0
votes
0answers
16 views

Check expiry date [duplicate]

I have received a banker's check which HSBC New York sent after closing my account. There is no mention of expiry date. Can somebody inform me how many months are USA checks valid?
0
votes
1answer
37 views

Check expiry date

I have received a banker's check which HSBC New York sent after closing my account. There is no mention of expiry date. Can somebody inform me how many months are USA checks valid?
2
votes
3answers
49 views

What Canadian account number format do European banks need for wire transfer instructions?

I am trying to transfer funds from my account in Europe to my account in Canada. On the sending (European) bank's transfer instruction form there is a field I need to fill-in in the beneficiary's ...
2
votes
3answers
742 views

What are the complications of making different signatures?

I'm a young person, new to the professional world such as banking. At first, I had difficulty maintaining the same signature. For example, when I opened the bank account, I made different signatures ...
1
vote
3answers
98 views

Received Check as Business Before Having Funds to Start the LLC

I've received a payment and will continue to be receiving payments contingent on me getting paid as an LLC. The problem with that is, is that starting an LLC is expensive and I don't have the funding ...
0
votes
2answers
217 views

How do celebrities protect their banking-related identity?

Wanted to know this for a very long time, but not sure what's the best place to ask. Their information is everywhere, and public. Like movie stars, pop stars, etc. I know some use a company account, ...
11
votes
4answers
1k views

Credit card issued against my express refusal; What action can I take?

About a year ago, I walked into my local Wells Fargo branch, where I have several personal and business accounts. I had several transactions to take care of and I asked the banker to be quick because ...
2
votes
1answer
64 views

What should I consider before opening an account at a bank in another state?

Can a person use a bank from one state while living in another? I live in a city that doesn't have many interstate banks. I like an interstate bank that I used when I lived in Florida. Can I set up ...
5
votes
2answers
216 views

As a regular person, can I perform/simulate a direct deposit?

As a regular person (not a bank or an employer or any such thing), can I take some money I have on hand and perform a direct deposit into a bank account for which I have all the necessary details? ...
1
vote
1answer
177 views

Who is legal owner of credit card, me or bank?

As far as I understand, usually with some official documents (such as Passport), the government/passport office is the one who owns it. Is the same thing is with debit/credit cards? Just theorising: ...
2
votes
2answers
61 views

How do banks calculate interst on savings account

Sometimes, I see banks advertise rates on savings accounts like this: Interest is calculated daily and compounded semi annually. Now if it is compounded semi annually , how can it be calculated daily? ...
9
votes
3answers
2k views

Co-signed a loan and I need to have my name removed

I co-signed on a car loan with my partner, and now that we are no longer together I want to have my name removed. He has had the car a year now and has been on his job over an year, but he won't do ...
3
votes
1answer
139 views

Why do almost all U.S. banks have a Salt Lake City P.O. box for accepting deposits?

Title says it all. A Google search for "bank salt lake city po box" shows that many banks/CUs (Discover, Capital One, AMEX FSB, Schwab, etc...) accept deposits at a P.O. box in Salt Lake City. Why ...
0
votes
1answer
99 views

How to send full loan amount to India from Saudi Arabia?

I work in Saudi Arabia, I took a loan here, nearly 10 lakhs Indian Rupees (1,000,000 Indian Rupees). My questions are: How to send the full loan amount from Saudi Arabia (money exchange), because ...
9
votes
4answers
5k views

I have more than $250,000 in a US Bank account… mistake?

I'm currently carrying a balance of $356,000 in one bank account, which is in excess of the FDIC insured maximum of $250,000. I owe $100,000 in 2014 taxes (which will be paid by April), and the ...
1
vote
2answers
60 views

Hong Kong - What's the difference between Current Account and Savings Account here

I know there is already a question called “Savings” account vs. “current” account - what's the difference?" on the site but bear with me, I believe that doesn't answer my doubts. I know very well ...
0
votes
1answer
44 views

what is a meaning of inclearing check that has remained outstanding for escheated accounts?

What is a meaning of in-clearing check that has remained outstanding for Escheated accounts?
-1
votes
1answer
54 views

How to search efficiently for financial institutions, credit cards, etc (At least in Canada)?

I tried Google to seek high-rate savings accounts, which effected websites like https://www.highinterestsavings.ca/chart/, the broadness, newness, and reliability of which I doubt, because for ...
0
votes
0answers
70 views

What does it mean: 'Bank fees are a write off'?

...quite willing and ready to pay by paypal or by direct wire to a bank. Paypal just takes time getting used to your financial transactions, and as for banks, bank fees are a write off. ...
0
votes
2answers
88 views

Check written to me personally, but for business?

I resigned my position with my employer. They asked me if I would be willing to do contract work for them. I agreed, and prepared a proposal that was accepted. I now have a signed contract. The ...
1
vote
2answers
73 views

Most Efficient Way to Transfer Money from Israel to the USA?

I am considering relocating back the USA and am looking for an efficient means to transfer our savings to a US bank. From my initial research the simple answer seems to be wire transfer for large ...
-1
votes
1answer
42 views

Is there more money in pockets or in banks? [closed]

In America, or the world at large, is there more money in people's pockets---i.e., not within banks or institutions, etc.---or in banks or institutions, etc? Provide evidence and reasoning.
1
vote
2answers
77 views

How is money transferred between banks? [closed]

Assume there are two separate banks, bank A and bank B. There are also two people: Person A, Person B. They accounts have the following balances: Person A: 400 Person B: 0.00 Person A in order to ...
27
votes
8answers
5k views

How to organize bank accounts with wife when adding mortgage

My wife and I are recently married, both of us are working hard. At the moment we currently have the same system as prior to our marriage. Which simply put is that both of have our own bank accounts ...
1
vote
1answer
86 views

Managing account other than salary account

I have a salary account in one bank and a separate saving account in other bank but i dont show my saving account details in ITR will it affect me in future.
1
vote
1answer
40 views

Are there services/software other than Quicken that can directly make bank account transfers?

I've been looking, but the only thing banks support enough to actually allow the movement of funds seems to be quicken. Are there any alternatives that allow similar levels of control?
0
votes
1answer
35 views

Canada: Can financial institutions borrow against all RRSP assets?

I have a self-directed RRSP at a Canadian financial institution. In this case it happens to be a credit union. The RRSP account is holding a corporate bond. I pay the institution a fee for ...
0
votes
0answers
21 views

Do I need ITIN or TIN to get my money from a closed back account from the US Govt? [duplicate]

I am Japanese. I studied in USA and deposited money in a bank account. After I returned to Japan, the account was closed. But it still has some money that I want back. They said money will be sent ...
2
votes
1answer
362 views

What is the easiest way to open a foreign Bank Account?

I live in Argentina. Nowadays in my country it is almost impossible to buy foreign currencies as American dollars or Euros. I was thinking if it is possible to open a foreign Bank Account to be able ...
2
votes
1answer
152 views

Endorsed check - does everyone have to be present to cash it?

Myself and some old roommates have a security deposit check made out to all five of us. Do all five of us have to actually be present to cash the check, or can one or more people in the party simply ...
0
votes
1answer
169 views

Why the ABA on this bank does not correspond to the routing number?

This is the transfer instruction for anyone that want to send money to choicebank Intermediary Institution: Bank of America, N.A. NationsBank Tower 100 South East 2nd Street 33131 Miami, Florida ABA ...
0
votes
0answers
24 views

Cheapest way to Wire Money to Asia

I am starting an online business and a great deal of my product sourcing will come out of China. My current bank accounts do not allow international wiring of funds. If I set up an account that will ...
1
vote
1answer
102 views

How can I prove that a bank owes me money [closed]

How am I, as a customer of a bank able to prove that I have a deposit-account with money on it? For example what would happen if the computer-system has a bug in it that affects my account. Bank ...
0
votes
1answer
718 views

How do banks handle post-dated checks deposited via the ATM?

As noted in another question, banks have different policies regarding post-dated checks before the post-date, although it seems most will accept the check as long as the check issuer hasn't contacted ...
0
votes
0answers
61 views

Indian resident > earnings go in USA bank > then wire to India > do I need to pay US tax?

The question says it all... I have a personal bank account in the USA (as a non resident), where I get paypal and other payments. These payments are then sent to my Indian bank. I do not live in ...
3
votes
3answers
114 views

What is a checking account and how does it work?

Often you see the distinction of a saving accounts and a checking account in personal accounting software. The terminology my bank uses, are personal and saving accounts. At least in the BeNeLux ...
-5
votes
3answers
177 views

How much of my home loan is coming from a bank, how much it goes back? [closed]

If I get $100,000 home loan, at 10% interest rate, I would pay a total of $300,000 ($200,000 interest and $100,000 loan amount) over next 20 years. EMI would be roughly, $965. How much of my home ...
0
votes
1answer
101 views

How much should I pay to bank for educational loan?

I have a bank loan taken from one of the nationalised bank and I owe 4.54 lakhs at 11% interest to the respected bank I have not paid since last 2 years towards interest So I wanted to know how much ...
2
votes
0answers
318 views

Double entry book keeping for hardcore personal finance [closed]

I'm looking for some experienced feedback with double entry book keeping software that can be tuned for personal finances. I'm not sure if I'm a rare breed, but I like to know my worth at all times ...
1
vote
2answers
92 views

Why do (ACH) payments that withdraw or deposit on my bank account require 1+ business days to complete?

Based on this question, I figured that there might be multiple questions for distinct locales. Why do the most common transactions to or from bank accounts in the US require waiting one or more days ...
-3
votes
1answer
113 views

I don't understand all this techincal jargon

I recently received a letter from a bank asking me to vote for something. Stated from the letter for two things I need to vote on: To approve amendments to the trust indenture that change the ...