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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2
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3answers
123 views

Simple Interest to Compound Interest

In simple annual interest terms 60/2000 is 3%. But what is the rate if this is the total interest paid on 2000 after monthly compounding over 3 years?
1
vote
2answers
667 views

If I win the lottery, what is the best way to secure this money?

Suppose I win the 62 EuroMillionen jackpot. Should I go to Switzerland and deposit everything there? Or stay with the bank that I have right now? Do you need to do anything special when you receive ...
0
votes
3answers
165 views

Open a UK Bank Account with Tier 2 Work VISA

I will be moving to UK (Newcastle) in February 2016 with a Tier 2 Work VISA for 5 years. I want to open my bank account before or within the first month's work so that salary can be credited. I only ...
-1
votes
1answer
113 views

Can banks borrow 0% interest rate loans for overnight speculations? [closed]

I was wondering if banks have the ability to borrow money overnight for speculations at 0% interest rates. Also, would third party providers have access to these short term or overnight loans?
0
votes
1answer
242 views

Cheque payment from NRE account to another person NRE account is it possible?

I am going to take a temporary loan from my friend, He will be giving me money in Dubai and I will send that money to my NRE account in India. After two months I want to pay this back through my NRE ...
5
votes
2answers
215 views

Which bank is my Discover card through?

I have used Visa exclusively for 15, now I have my first Discover card. A notable difference is that Visa always carries the name of the bank (for me it was Chase); but the Discover card does not. ...
2
votes
1answer
221 views

Are ACH transfers between individuals possible?

All the information I've found on ACH transfers for individuals apply to the scenario in which the individual makes payments to an institution of some kind (usually a business). But are ACH transfers ...
2
votes
2answers
131 views

Claiming business expense from personal credit card

I started my business (LLC) by filing online, and paying a fee for a registration, and that makes it a business cost right? Also in the meantime while I bought some electronics to use for my business ...
0
votes
0answers
59 views

Access your money in US as if you are in Canada

What is a good option to have access to your Canadian Dollar savings while in US? Is there any Bank account type of service that allows you to receive in US the Canadian dollar that you have put into ...
-1
votes
1answer
36 views

how banks hedge interest risk and default risk [closed]

this is probably a naive question. Is it true that banks always prefer to borrow short and lend long liabilities? If so, interest rate on long term loans fluctuate over time. how do banks hedge the ...
2
votes
1answer
101 views

Where did you learn banking related concepts? [closed]

I have only average knowledge of principle, interest, compound interest which I had learnt in high school. Now-a-days, I am facing lot more new terms, like EMI, credit card, current account, service ...
1
vote
1answer
268 views

Monthly money transfers from US to Puerto Rico

I would like to set up a monthly transfer of money (same amount every month) from my bank account (in the [mainland] US) to my parents' (in Puerto Rico). I was surprised to learn from the person I ...
2
votes
0answers
72 views

Use relatives bank account for my paycheck

I live in Sweden, and some family members live in Norway, recently I got a job in Norway, but I was unable to get a bank account here right away, and they can't put my pay on my Swedish account. What ...
0
votes
1answer
827 views

if a check is in your son's name in c/o you does it have to be signed by your son

Second name on check c/o son's check need advice
5
votes
3answers
6k views

Is it still possible to “sign over” a check at Bank of America? How else can I cash a US Dollar check?

I'm a PhD student and am due to go to a conference in Boston, MA next month (I'm based in Edinburgh, in Scotland). I've been awarded a travel bursary to attend the conference: nothing major, but it ...
2
votes
1answer
122 views

Annuities-with deposits and withdrawals

A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is to provide 16 quarterly withdrawals of $ 1900 each, the first due on ...
3
votes
1answer
439 views

How to invest in Vanguard index fund for non-us citizen from overseas

How can I open Vanguard's account if I don't live in the US and non-US resident. Vanguard's ETF is not an option as it involves other factors such as currency exchange, people perception. If I go to ...
0
votes
0answers
116 views

Can I open a bank account in the U.S as a tourist visa holder and use it for an online business and make money?

Can I open a bank account in the U.S as a tourist visa holder and use it for an online business and make money? I mean I will go to the U.S for 3 months as a tourist and I want to open a bank account....
0
votes
2answers
588 views

Is it possible to borrow money to invest in a foreign country?

Suppose I live in Canada. If I want to borrow money from the banks here and use that money in another country to carry out construction projects and hence make profit. Is it possible to create a legal ...
3
votes
2answers
110 views

ACH processing time of day

As I understand it, ACH transactions are not processed when a customer initiates them, but rather batched by the institution and processed at once. Is there a standardized time of day that the ...
8
votes
2answers
404 views

Are there any drawbacks to using Fidelity for your primary banking account?

I've recently become fed-up with Bank of America (When they charged me a $10 overdraft fee the one time in 2 years I used the wrong card at the wrong time and all they did for that $10 was transfer ...
2
votes
2answers
200 views

Depositing a second party check for $10,000

Friend without bank account wants me to deposit a gift check in my savings account. Will I be taxed for it or have other implications?
3
votes
3answers
614 views

How can I set up a recurring payment to an individual (avoiding fees)?

What methods are there for me to transfer X dollars per month, directly to another individual's bank account? I'd rather avoid sending a check every month and the attendant hassle when a check goes ...
1
vote
1answer
56 views

How to get underlying stock from ADR

How can I get the underlying stock from an ADR? What are the fees and general bureaucracy to archive this. Does this depend on the ADR emitting bank, or is a generalized process?
1
vote
1answer
81 views

Phantom Bank Regulations

I was power of attorney for my mothers account. I closed the account at the time of her passing away and received a cashiers check for the balance. A credit came in for 42.00 and the bank reopened the ...
0
votes
1answer
124 views

How do I understand this wire instruction?

Choicebank requires all money to go to an intermediary bank http://www.choicebankltd.com/file/2015/09/Wire-Instructions-NCB-09032015.pdf Their instruction is VERY CONFUSING What is field 56a field ...
0
votes
0answers
685 views

Stopping Payment on a Check--How Long Does it Take?

Background: my previous landlord returned my security deposit, but for less than the full amount. I believe I am entitled to the full deposit back, so intend to dispute the amount. I am going to try ...
3
votes
1answer
126 views

Bank accounts that do not get overdrawn

Are there any banks (in the US) that do not have an overdraft facility? That is, an account which cannot have a negative balance and they simply reject/decline transactions that would take the account ...
1
vote
0answers
381 views

Prepaid VISA Debit Card declined on Amazon.com

So I tried to make a purchase on Amazon.com using my Prepaid Visa Debit Card but it was declined, they said: We have canceled your recent Amazon.com order(s) because we are unable to charge your ...
4
votes
4answers
39k views

Can I cash a cashier's check at any bank?

I will be receiving a cashier's check, from a bank, a little over $12,000. It was a portion of money from the sale of my deceased parents home. I would like to know if I will be able to go to any bank ...
0
votes
1answer
57 views

I need to open a brokerage account in the US from AUSTRALIA

Does anyone know if I may be able to open a brokerage account in the united states but living in Australia, to use in trading.
1
vote
2answers
81 views

Free banking transfer every 4 weeks

In an effort to automate my banking life, I'm trying to setup recurring ACH transfers from one bank to another. I need the flexibility to do the transfer every other paycheck (every 4 weeks). Bank ...
2
votes
3answers
725 views

My bank often blocks my card during purchases - what is the most reliable bank card? (UK)

My bank (Natwest) blocks my debit card so frequently that I'm often worried about making large transactions - such as checking out of a hotel, buying at a luxury store, etc. It ruins experiences that ...
1
vote
1answer
485 views

What does it mean to borrow short and lend long?

What does it mean that institution borrowed short and lent long?it would be great if u may use a comprehensive example. Thank you very much.
0
votes
0answers
60 views

Load / Withdraw fund from another bank branch in another country, how fast and cheap?

I am newbie to the banking and financial services. just tell me if below scenario is possible: I need to open bank account, then fund/Load money to it in country A, my friend will fund my account ...
1
vote
2answers
182 views

What should one look for when opening a business bank account?

I've created an LLC under my name for my contract work (taxed as a sole proprietorship). Because of this, I'm planning to open a Solo 401k, and due to that I'm planning to pay myself income based on ...
1
vote
1answer
104 views

getting paid for work in Canada to a U.S bank account?

So I'll be temporarily transferred to one of our company's offices in Canada for about a year. Can I be paid to my U.S bank account just so I won't have to transfer the money back to the U.S when I ...
3
votes
1answer
523 views

Anyone have experience with Brink's 5% savings account?

If you get a Brinks prepaid MasterCard (no initial fees, and you can even get a $20 signup bonus) and go through some other gyrations, you can presumably get access to a 5% FDIC-insured savings ...
0
votes
1answer
180 views

Send money to someone with Bank of America

My nanny has a Bank of America account. What is the easiest way to send her money electronically. She is not tech savvy. I've tried Quick Pay multiple times, she can't seem to figure it out. I ...
0
votes
0answers
27 views

Crisis Safe International Savings Account

I am a non-US national living in a non-US country and I am planning to liquidate a smallish amount(about $10k) of my US dollar assets and set them aside to have some buffer for my family in case of ...
4
votes
2answers
120 views

My ex sold our car that still had money owed [closed]

My ex sold a car that he and I bought together. Both of our names are on the title. We both still owe 10k on the car. But now that the car is gone the banks are coming after me. Is there anything I ...
1
vote
2answers
69 views

Banking Advice for my new Job

I am moving to UAE for my new job soon from India. This is my first job as well. My Employer asked me to send my Banking Details. So what kind of account should I start, where should I start, and what ...
1
vote
0answers
65 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
852 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
52 views

Control mechanisms on banks' total income [closed]

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. ...
10
votes
1answer
2k 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
628 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
139 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 ...
11
votes
4answers
932 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
598 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 ...