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
18 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
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1answer
25 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
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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
67 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
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1answer
71 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
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1answer
54 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 ...
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0answers
21 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
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1answer
62 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
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0answers
65 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 ...
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0answers
48 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
104 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 ...
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votes
3answers
105 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
72 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
90 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
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2answers
79 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
101 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 ...
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1answer
220 views

Urgent advice on used car purchase nightmare

I purchased a used vehicle almost 2 years ago and it was breaking down so i decided to turn it in. I was pre-approved through my credit union for $20,000 at 100%. My current loan is upside down by ...
1
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0answers
139 views

Trying to transfer money from a Bank to Paypal account. Being asked for a valid Swift Code.

I gave a bank my Paypal account number, IBAN and other details to send some amount to my Paypal account, and I got a response saying that I have an invalid SWIFT CODE and the transaction failed ...
16
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4answers
4k views

Will depositing $10k+ checks each month raise red flags with the IRS?

I am a freelancer that runs a small design business (LLC) and I have one client in particular that I regularly do more than $10k per month worth of business with. Sometimes I'll deposit a check for ...
2
votes
1answer
61 views

How to find information about ethical banking? [closed]

I would like to know how to choose my ethical bank, and which investment or behavior should I avoid to make sure my money is used transparently and ethically. In France (I am french) I have read ...
1
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1answer
90 views

Can the Fractional Reserve System be used by the Common Man [closed]

Say... I ask my neighbor for $10 and promise him $11. I then turn around and invest my $100 [post multiplier] into a govt bond. Then I give him his $1 and keep the rest. Is that possible on a ...
1
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2answers
120 views

Does working in finance firms improve a person's finance knowledge?

I would like to know whether it is possible to gain personal finance knowledge if a person works in a good finance firm where he comes across many financial models.
4
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2answers
510 views

How does Wells Fargo use my phone number to find my Bank of America account?

I'm extremely confused about how Wells Fargo's SurePay transfers money to Bank of America. I've set up my Bank of America account to use my mobile phone number to receive payments. Now someone sent ...
10
votes
3answers
2k views

Should I pay rent electronically?

I'm renting an apartment from an individual. The landlord and I discussed the possibility of paying rent electronically. My bank (BofA) has some kind of electronic payment option where I'd enter the ...
2
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3answers
192 views

Can banks deny that you've paid your loan?

As expressed in the title, can a bank deny it that you've paid back the loan? Or how can you make sure that won't happen? My sister recently got married, but she freaked out when her husband told her ...
2
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1answer
110 views

Do financial advisers in Canada who work at the bank, make investing decisions not in your best interest?

I've been using the same financial adviser as my my family and am wondering if Canadian financial advisers who work at the bank specifically Scotiabank would purchase mutual funds that specifically ...
1
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1answer
223 views

What is a clearing bank, in specific, what does RMB clearing bank do?

Bank of China (Hong Kong) is described as the "sole Clearing Bank for RMB business in Hong Kong" What does it mean to be a clearing bank and clearing bank for RMB? What's the difference between ...
0
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1answer
116 views

Getting money from online websites I own to my UK bank account

I recently moved to UK for a full time job, and I get my salary transferred to UK bank account, and automatically tax calculated. At the same time I own few websites and I get some money from these ...
5
votes
4answers
537 views

Should I get a bank account since I recently got my first job?

I'll be starting work this Friday (yay!) and haven't got the slightest clue about any of this. It'll be washing dishes at a restaurant, and I really don't know anything. Do I set up a bank account ...
0
votes
2answers
911 views

Can I cash in a ripped bill?

For example say I have a $100 bill. If I rip it up into 2 halves, and try to cash in each half at a different bank location, could I gain $100?
3
votes
1answer
100 views

Can a check be indorsed anywhere, or just in the specified area?

So I wanted to know, but nobody has been able to answer me. Can an indorsement be made anywhere on a check, or does it always have to be made in the designated space on the back of the check?
0
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0answers
38 views

Is it impossible to open foreign currency accounts in the US? [duplicate]

I want to open a Canadian dollar account in the US. I.e., an account that operates in Canadian dollars without converting to US dollars. I just spoke to someone at HSBC and they said "any account ...
0
votes
0answers
21 views

Escrow check with past void date? [duplicate]

I have an escrow check that is past 180 days. It will be around 6 days past 180 come Monday. The check was issued by bank of america and my bank is chase. Would they still let me deposit it or will ...
1
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1answer
93 views

In India, what is the difference between Current Account and a Savings Bank Account?

Considering that Current Accounts in India give you no interest, why would anyone keep a current account open? Why not just use a Savings Bank Account? ATleast they give you some daily interest on the ...
3
votes
3answers
337 views

If I want a Credit Card offered through a different Credit Union should I slowly transition my banking to that CU?

The first bank, and subsequent credit card, I got was while in College. Its a small Credit Union that I only bank with now through Shared Branches. It works for me though and my credit score is ...
12
votes
1answer
688 views

What US law requires a bank to reopen a closed account if a third party sends money to it?

I used to have an account with a local credit union. I moved, then closed the account. The credit union mailed me a check for my remaining balance and confirmed the account was closed. This was 14 ...
5
votes
1answer
111 views

Why does it matter if a Central Bank has a negative rather than 0% interest rate? [closed]

I saw in the news today that the European Central Bank lowered its interest rate below zero. My understanding is that this rate is what banks are paid (or if negative, "charged") by the central bank ...
3
votes
1answer
284 views

Freelancer: Should I start a second bank account?

I am a freelancer based in India with clients in Canada, US and India. Until now I used my personal savings account (Union Bank of India) to get paid. It has been only a few months since and now I ...
2
votes
2answers
65 views

How different are exchange rates for major banks on a given day?

I'm based in the U.S., and have an overseas client that pays me via wire transfer. I understand that the incoming exchange rate used by a bank will always be lower than the rate quoted on Google, but ...
1
vote
1answer
47 views

Do US banks exchange info with countries abroad?

Are US-based bank accounts (with BoA for example) for EU citizens somehow being reported back to EU? Sort of a complex question, but the background info is the following - I lived 1 month in the USA ...
0
votes
2answers
50 views

Does inflation equal more loans? [closed]

I am wondering if the banks are favored by high inflation levels? Do higher inflation levels equal more loans? I am looking for another way of looking at the problems of inflation and not just from a ...
0
votes
1answer
61 views

How do I check my opening balance in Quicken 2014?

My Quicken account is way out of balance, and I think this all started a couple of years ago when my old bank decided it would be fun to delete the payee names on all of my old transactions on a sync, ...
2
votes
2answers
618 views

How can I cash out a check internationally?

I have a prize check in my name at my old university based in the US. I have now shifted to another country and was wondering, what would be the best way to cash out the check? I know someone ...
2
votes
2answers
723 views

Getting Branch Location using Account/Routing Number in US/Canada

Are there any ways to retrieve a branch's address or relative location using the Account or Routing number of an individual account in the United States or Canada? Are there any publicly exposed APIs ...
0
votes
1answer
100 views

What does investment bank risk during IPO?

During IPO investment bank buys first stock of company which goes public. But what are the risks for bank? If after the IPO nobody buys these stocks from the bank on stock market, how will it get its ...
0
votes
1answer
238 views

What can I do with unused cheque book?

I will be switching all my accounts from Bank A to Bank B within the next few weeks. A few months ago, I purchased a cheque book for my Bank A checking account. It contains 50 cheques (all unused). ...
2
votes
1answer
878 views

Transfering money to personel saving account in India

I am currently residing in Qatar since 2 years. I am transferring my salary from Qatar to my personal Indian savings bank account. The amount I used to transfer is used for general expenses. Do I ...
6
votes
1answer
358 views

What's the difference between a certified check, a cashier's check, a money order, and a bank draft?

The question comes from reading this answer. I've heard these terms used somewhat interchangeably, but I have no idea what the differences are. What's the difference between a certified check, a ...
4
votes
1answer
81 views

Should I convert all my money to local currency when I study abroad?

I'm just turning 21 so I really have no experience with currencies and banking systems. This is the first time I travel outside my mother country. I'm accepted in a postgraduate study program and I ...
1
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1answer
57 views

Who originates loans guaranteed by the USDA Farm Service Agency?

The official Guaranteed Farm Loans page says: FSA guaranteed loans provide lenders (e.g., banks, Farm Credit System institutions, credit unions) with a guarantee of up to 95 percent of the loss of ...