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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0answers
41 views

Circulation of money question: is paying back mathematically possible? [on hold]

I wish to understand this. Maybe a finance person can tell me how this works. When a bank lends credit/currency it demands back more from the borrower So for every loan k, the repayment is greater ...
1
vote
0answers
33 views

Default on credit report

I was wondering if anyone could help me with a situation that is giving me a lot of trouble at the minute? Back in 2011, I took a credit card with Vanquis Bank. Being young and silly, I didn't really ...
14
votes
4answers
635 views

how to deposit found money

About $25,000 was found in my home ceiling which I believe was put there years ago by my parents and forgotten. I want to know if I deposit it all in the bank at one time will that cause any problems ...
1
vote
1answer
40 views

Control mechanisms on banks' total income

What standard or rule controls total money transactions in a bank (especially internet banks) so that they don't create money for themselves? As I understand it, banks can create money as they loan. ...
9
votes
1answer
90 views

What happens to the original funds when a certified bank check is not cashed?

When a bank issues a certified check that was funded from my account, where will the funds end up if the recipient never cashes the check before it expires?
6
votes
2answers
505 views

is my bank making any money from me? [closed]

I use my bank account as a method to receive money , and not to store them. I usually receive small amounts of money like 100$ , 250$ or so , and then withdraw them as soon as they show up in my ...
2
votes
1answer
114 views

Direct deposit downside

After working at a job for four years as a salaried employee, my employer has offered direct deposit. He says he has to hold a weeks pay in arrears to give time to adjust deposits for those who leave ...
7
votes
1answer
470 views

Can anybody cash my check by using an ATM? Does the machine check the name of the check and debit card?

I lost my paycheck. If somebody finds it will they be able to cash it?
3
votes
2answers
125 views

What are the requirements for someone to deposit a check into your bank account?

I recently opened a checking account and gave my account number to my new boss. What will my boss need to do to be able to deposit a check into my checking account? Can someone deposit into your ...
1
vote
2answers
65 views

Offshore Bank account with Online International Wire-transfer facility for Indians

I am freelancer having Indian nationality and residing in India. I own and operate Sub-Affiliate program of US based company. I have Bank accounts in India which operates in INR (Indian Currency). ...
4
votes
2answers
496 views

How quickly are the funds from a bank deposit available via my debit card or a check?

I deposited a cashier's check into my account at 8AM, the account had nearly nothing in it. If I were to use the "credit" option on my debit card at the grocery store would I overdraw my account? Do ...
0
votes
0answers
32 views

For what reasons a bank deny basic saving account [duplicate]

I applied to open a basic saving account with Citibank few days back in Malaysia (I'm not a Malaysian citizen, nor I am an American). I work in Malaysia, and one of the strict conditions of the bank ...
3
votes
1answer
93 views

How to minimize damage from sale of savings account

I've been a Bank of America customer for ~13 years and have maintained the same accounts during that period. I currently have a checking and savings account with them and have two credit cards (one ...
0
votes
0answers
113 views

What I need in order to receive payments from Valve?

This post is complementary to this one. I'm developer from Russia and I recently passed Steam Greenlight. Now I'm stuck on the Valve program enrollment phase. From what I've seen in the Valve forms, ...
1
vote
2answers
79 views

How do I withdraw all money from my HSA account as a non-resident?

I have lived in US for 5 years, and I (still) have an HSA account with BoA. Now I am living in Europe, and there's a fat chance I'll ever go back to live in US, so I would like to withdraw the money ...
-2
votes
1answer
80 views

What does bank do with “Repaid Principal”? [closed]

When a bank on its loaned amounts receives payments towards repayment of the principal, what does it do with this amount received by them as "Repaid Principal"? Does this amount received as "Repaid ...
2
votes
1answer
121 views

Brainstorming: Homebrew “credit” card?

In response to another question (about how to make credit cards pay interest on any positive balance), I came up with an odd combination: Get an account with both a debit card and a linked ...
1
vote
1answer
64 views

List of banks with free OFX service [closed]

I am looking for a list of banks that offer a free OFX (Open Financial Exchange) service. The best list I have been able to find is here: OFX List Some of the banks on this list are documented to ...
1
vote
1answer
66 views

Inexpensive Method of International Swift Transfer for Low Dollar Amounts?

I am dealing with a beareaucratic government office in Europe in order to get some family records. They will only accept SWIFT transfers and have provided me with two different accounts I need to send ...
-5
votes
2answers
120 views

How do banks handle billion deposits with interest?

Say you're a billionaire with 1,000,000,000. Assume an interest rate of 0.8 percent APY. Then after 1 year, you get 8,000,000 in interest. How do banks deal with this? Do they have a cap on how much ...
0
votes
0answers
76 views

How can I significantly increase my credit score using cash?

I would like to improve my credit score^ by throwing money at it rather than by waiting several more years for a ding to disappear from it. I've read several good questions and answers here about ...
1
vote
1answer
43 views

FD and liquidation of cooperative Bank (patsanstha) in India

I've my money stuck in cooperative patsanstha (bank) since last 4-5 years. Money was invested across multiple FDs (worth Rs. 1,50,000) and after banks liquidation they deposited the money to saving ...
0
votes
2answers
55 views

Is it possible to split a bought price made with a credit card into some monthly payments?

I'm from Brazil and here the thing works like that: If you buy a 300-dollar TV, but the limit of your credit card is 200 dollars, you can split the payment into 2 or even into 12 times. Since, each ...
2
votes
1answer
137 views

Should I put a small amount of savings in a high interest savings account?

The highest in Canada that I've found is 2.8% interest, compounded annually where the interest is calculated daily. I have $2000, and the initial amount and the interest earned is guaranteed by a ...
-3
votes
2answers
119 views

Is UK house price spiral connected to debt based monetary system? [closed]

Is the monetary system's debt basis* driving government policy on housing and property, and how could this ultimately affect personal housing affordability? The UK has an ongoing 'situation' with ...
1
vote
1answer
186 views

Investing money 101

I feel really bad for posting this because I'm completly unable to make a proper search about my question. There is a very high chance that this is more than duplicate, and I apologize. I would like ...
-3
votes
1answer
85 views

How will a rise in interest rate affect the CAD

When Bank of Canada raises interest rates ( not sure when or if that will happen), can I expect the CAD to regain its former glory against the USD? Is it fair to say that buying the CAD: USD pair ...
1
vote
1answer
101 views

What do US banks look for while processing a check

I recently had two issues with banks & checks I deposited a check payable to my spouse & me in our joint account at the bank ATM. It was accepted, then rejected - missing endorsement. Turns ...
0
votes
0answers
38 views

Depositing an insurance check made out to a foreign ltd into a personal US account

I own a boat which is registered in the BVI's in an Ltd. name. There is no business and thus no bank account for it. I am a U.S. citizen with a regular U.S. bank account. I incurred boat damage and am ...
0
votes
1answer
75 views

How to withdraw money from an account with only an account number?

I was given an account number and a route number from one of my friends and she said that I can walk into any bank and withdraw funds that she owes me. I don't have any bank account at all. So my ...
-1
votes
3answers
102 views

How can banks pay interest on money they borrow from the FED? [closed]

I'm not sure if this is the right site to ask this question. If it's not, please point me in the right direction. So, if the FED is the only institution that can increase the monetary base (create ...
1
vote
1answer
106 views

Can a new US resident safely open a bank account as a non-resident?

Fresh US immigrants that want to open up a bank account as soon as possible generally face impediments like needing to profile a proof of address/residency. This comes in the form of utility bills or ...
0
votes
0answers
10 views

Even payments between Primary and Secondary Bank sharing loans

I have a question, Im a math guy, so the finance intuition is hard for me and Im not too sure how to ask this so maybe some help in phrasing will be needed as well. Suppose I have a person coming in ...
0
votes
1answer
465 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
3answers
151 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
202 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
540 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
45 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.
3
votes
2answers
663 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 ...
1
vote
1answer
171 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 ...
0
votes
0answers
18 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
58 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
605 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
980 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
118 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
541 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, ...
12
votes
4answers
2k 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
83 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
321 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
228 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: ...