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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1answer
54 views

What happens if there are insufficient funds in my checking account when a cheque is deposited?

In my question, there are two accounts involved. I will call the account where funds are being taken from (debited) Account A and the account where the cheque deposit happens Account B. Question: At ...
0
votes
1answer
41 views

Using bank wire transfers

Will any bank reports have to be filed if I send more than $10,000 in my bank account by a wire transaction to another bank account in my name in the USA?
15
votes
7answers
4k views

Why don't banks allow more control over credit/debit card charges?

Why don't most banks have a system where, when you charge something on your credit or debit card, you then have to log into the bank and approve the transfer of funds? Alternatively, why don't they ...
-1
votes
0answers
12 views

How to automatically deduct the BIC from the IBAN? [on hold]

is there an automated way to get the BIC from the IBAN ? Like this page does: http://www.iban.fr/calcul-de-la-cle-rib.html
9
votes
2answers
2k views

Money sent to loan account after it has been paid off and closed

For the last few months I have been paying off a loan via automatic payments from my current account that transfer over automatically each month. The loan got paid off and the bank closed the account. ...
5
votes
1answer
76 views

Are unknown lenders safe to use?

I want to refinance my mortgage, so I went searching for rates and a typical page on BankRate looks like this: These rates are a good half a percent less than what's offered by the major banks, but ...
0
votes
0answers
71 views

Alternatives to Bank Accounts

I have both a savings and checking account with Wells Fargo and I'm just getting disappointed by the fact that I don't get hardly any interest. Is there somewhere else I could stick my money so that ...
3
votes
1answer
136 views

Is it OK that my bank's routing number is nowhere near me?

I have an HSBC account. The checks on said account have a routing number of 021001088. From what I found, this number has a location of Buffalo, Ny. That is a little weird since I live in NYC and the ...
1
vote
1answer
65 views

Can eBay work with your bank card

I want to deposit 60$ I have in my eBay account from doing online surveys and such, but ebay only has my debit card number. Will my bank (Huntington) or any bank allow it to be deposited through my ...
9
votes
3answers
1k views

“Simple interest rate of 0.10%” corresponds to “APY of 2.54%-5.00%”… how?

This checking account says Balances above $5,000 earn a simple interest rate of 0.10%, with a corresponding APY of 2.54%-5.00% APY. I don't understand how a simple interest rate that is a fixed ...
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votes
3answers
40 views

Physical CHECK Front Side - Question

Would anyone please be so kind to tell me which address is under the name of financial institution which is located on the top of front side of check? Is this address the address where the letter ...
-1
votes
2answers
73 views

Physical Checks - Mailing

I am about to mail a check directly to a financial institution in the USA where the receiver holds an account, so that the money from the check can be deposited into the receiver's account. However, ...
0
votes
0answers
14 views

Claiming tax benefit for the pre construction period home loan interest paid

Can the tax benefit be claimed for the pre-construction period of the home loan interest paid for the let out property,after construction of the house.(In my case the period of construction is more ...
1
vote
0answers
103 views

US Bank Won't Cash Old CD

I have an old (> 20 yrs) CD from a bank that was bought by a bank that was bought by US Bank. I went to US Bank to get it cashed, and they have no record of it, me, or my parents (we're all listed on ...
0
votes
1answer
98 views

I have an account at the BBT and money was seized for inactivity

Hi I had an account at the Wachovia that then became the Colonial and now its de BBT. I have not used the account for years but checked online regularly. I now go to the bank and they told me the ...
0
votes
1answer
63 views

Where to request ACH Direct DEBIT of funds from MY OWN personal bank account?

Could anyone please explain where and how to request ACH Direct DEBIT of funds from MY OWN personal bank account? The ACH Processors such as nationalach.com are out of the question because they only ...
6
votes
2answers
188 views

How do I protect money above the FDIC coverage limit?

Recently, I received an inheritance of $1.2 million. I'm planning on investing 1/4 of that in properties. With that being said, I'm still way above the FDIC coverage. Besides investing, what else ...
0
votes
1answer
65 views

Handling loan on flat to rent

I intend to buy 2 room flat and rent it. Flat costs 240k and I have 70k in cash. I expect to get paid 2k per month from renting flat (1k per room). Bank requires my minimal contribution of 10% of flat ...
4
votes
2answers
178 views

Bank transfer not allowed for “cash account”

I've recently reloacated to UK and opened a bank account to deposit my paychecks. As I didn't have a credit history, the bank allowed me to open a (what they call) "cash account". Now, given that I ...
0
votes
1answer
60 views

Why do I need a credit history to open an account in UK

I'm from somewhere in EU and I've recently landed a job in london. I was trying to open a bank account here, but I found it extremely difficoult as it appear that to have a bank account here in some ...
0
votes
1answer
48 views

Moving money into Fifth Third checking account through Access 360 card

My account was one of those compromised a bit back, and as a result Fifth Third cancelled my card and gave me a prepaid Access 360 card. Due to some mail complications I never received my new card, ...
0
votes
0answers
34 views

Do I have to pay remittance tax?

A friend of mine wants to buy a house in my country in Viet Nam and he authorized a bank in UK to transfer this sum of money of more than 200,000 USD into my bank account. However, this bank asked me ...
0
votes
0answers
38 views

Does “Know Your Customer” (KYC) rules apply to financial products?

When a financial institution enters a relationship with a customer, they must abide by the KYC rules. What does the regulator say about options or ETF? The questions boils down to: would it be ...
0
votes
1answer
68 views

How to recover money from old closed/dormant bank accounts in the U.S.?

Can anyone answer how to recover cash from (old) closed bank accounts from banks in usa?
26
votes
5answers
6k views

What risks are there acting as a broker between PayPal and electronic bank transfers?

I have a company offering a position as a transaction representative, they're located in Poland and say they can't take direct payments or use Paypal due to "money amount limits" on Paypal there. ...
1
vote
1answer
83 views

Is there an expiration date on Bank of America's Cashiers checks?

Upon my advice, my daughter requested a cashiers check in a BOA office in NJ today rather than carry a sum of cash out of the bank. She asked how long the check was valid. The Bank Manager told her ...
2
votes
1answer
85 views

Condo hazard insurance — who takes the next step? Everyone else is refusing

I live in California. The bank (in Atlanta) who has our home loan needs to see proof of our condo master hazard insurance policy or they will buy us a policy. The agent who sold the policy told me ...
1
vote
0answers
64 views

JPMorgan Chase bungled my credit card autopay [closed]

So many months ago I enabled autopay and out of paranoia I continued to manually make online payments from my checking to my credit card account. This time I finally bought into their assurances that ...
7
votes
2answers
191 views

When can I be sure a questionable check has cleared?

Someone has sent me a check for $250 in payment for property damage they caused in a car accident. It would have been better if I had gotten a cashier's check or official check, but I'll have to make ...
1
vote
2answers
272 views

Chase bank not breaking large bills for non-account holders

I recently went into a Chase bank to break a $100.00 dollar bill to get five twenty dollar bills. The teller ran my one hundred dollar bill through a counterfeit bill checker, and then proceeded to ...
2
votes
0answers
46 views

If my business is under FTB audit, can I close my old bank account?

We plan to switch from Bank A to Bank B and we are currently under Franchise Tax Board audit. We also recently realized that account in Bank A is with outdated EIN that we forgot to update to SSN when ...
0
votes
0answers
48 views

US Banking Rules regarding endorsements of non-government checks?

The issue is that only one of three payees on a non-governmental check endorsed the check. The check was subsequently deposited by the one party endorsing the check. An insurance check made out to ...
0
votes
1answer
121 views

How will getting a second credit card from another bank impact my credit score?

I am almost 20 and have had a credit card since I was 18, I was working (officially) since I got my chequing account in early teens. I have been with TD Canada Trust ever since (Canada). Now I want to ...
6
votes
2answers
94 views

Deposited a 1m Life Ins. benefit check to WF. Do you foresee any issue dividing it up in 1/4?

Deposited a 1m Life Ins. benefit check to Wells Fargo. Do you foresee any issue dividing it up in 1/4 by opening three other accounts and either writing a check or wire to move? Concerned with any ...
1
vote
3answers
172 views

Why do transfers between your own accounts WITHIN the same bank take a business day to clear?

Why is it that when you e.g. transfer money between your savings and checking account at a bank in the U.S. (say Bank of America), it takes a business day for the transaction to clear? I understand ...
0
votes
1answer
29 views

Can somebody explain “leveraged debt investment positions” and “exposures” in this context for me, please?

"The strong bond performance has led to a surge in leveraged debt investment positions that are ultimately funded by the banks' interbank exposures and WMPs. But nobody really knows how levered these ...
1
vote
1answer
66 views

How should I decide which bank or credit union is right for me?

I'm a college student, and I make money. Some of it I want to spend quickly. Some of it I want to put off spending for as long as I can. As I'm striving to become more financially responsible, I ...
1
vote
1answer
47 views

Are UK banks supposed to be compliant with the 1st February 2016 SEPA BIC deadline?

I can't find a more authoritative quote, but Wikipedia says this about BIC: After these dates [1st February 2016] the IBAN will be sufficient to identify an account for home and foreign financial ...
2
votes
1answer
82 views

Transfer from Paypal account to NRE account in ICICI Bank

I am a Indian national and currently an NRI in another country. I have created a paypal account, added my PAN details and put in the details of my NRE account. But the transfer did not happen and I ...
3
votes
1answer
63 views

What is “eCheck”, exactly?

In the US, PayPal offers three way of linking a bank account with a PayPal account: eCheck, ACH, and Debit Card. When payments are sent using the Debit Card method, a fee is applied because of the ...
0
votes
0answers
71 views

Is usage of someone else's bank card allowed?

If I gave my bank debit card from Payoneer with my name on it (but no photo and signature) to friend of mine, is he allowed to withdraw money from my card in the branch of the bank using cash desk? ...
0
votes
2answers
309 views

Military member asks me if she can have money wired into my bank account but needs my social security number and bank routing number [duplicate]

I was recently talking to someone online and she said that she was in the Army and then she went on to tell me that she had a lump sum of 45,000$ co.i g to her but she needed my bank account routing ...
-2
votes
2answers
108 views

Shouldn't it be the person writing the check who endorses the check, not the depositor of the check?

I have to sign the backs of checks other people give me. Why is this necessary? It seems that someone could easily steal the check and write their name instead and deposit it into their own account. ...
3
votes
1answer
68 views

Error in my car loan papers, what do I do?

In Dec 2014 I turned in a financed car that I had where my mom was the Primary Owner and I was the cosigner and I purchased a new car only under my name and credit, my mother wasn't present and she ...
3
votes
1answer
88 views

When my credit card is charged, what information does the business recieve?

Say I purchase an item from an online retailer. I give them my credit card, address, cvc code, etc. When the retailer attempts to charge my card, what information will my bank (or ...
5
votes
1answer
78 views

Fees for depositing US social security check

My bank charges a significant fee for deposits of US Social Security checks. Is this generally a paid service or I should explore other banks and get lower fees?
0
votes
0answers
93 views

Money transferred from my account but not received by overseas client

I had to transfer money for admission in a university, which I did around 12 days back. My bank (in India) has given me a receipt saying they have transferred the money. The bank to which they have ...
3
votes
2answers
47 views

Removing unused credit card from CIBIL credit report

I used to hold an ABN Amro(Now RBS) co-branded credit card back in 2008. After using it for a period, I realized that the card was no good for my needs. I called up the customer care and asked for the ...
5
votes
1answer
126 views

Why are Bank of America and Citi trading so far below book value?

In 2008, a famously wealthy man bet big on Bear Sterns, citing that it was absurd that it was trading below book value. That man is now only slightly wealthy. The lesson was that you should trust book ...
0
votes
1answer
125 views

Transfer funds from Scotiabank to US account at Bank of America

What is the best way to transfer a large sum of money from my checking account at scotiabank to my new account at Bank of America?