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.

learn more… | top users | synonyms (1)

2
votes
2answers
1k 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
1k 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
39 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
136 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 ...
1
vote
2answers
614 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
85 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
162 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 overdraft-...
1
vote
1answer
338 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
108 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
6k 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 ...
2
votes
0answers
127 views

How can I significantly increase my credit score using cash? [closed]

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
128 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 ...
5
votes
1answer
310 views

Minors financial rights in the US

I've been looking at options for minors in the USA regarding their finances and everywhere I look, I see 'people under 18, need a guardian, parent etc. to open a checking/saving/brokerage account' and ...
0
votes
2answers
59 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 ...
3
votes
1answer
177 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 ...
-2
votes
2answers
138 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
354 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 ...
1
vote
1answer
257 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
48 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
345 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
309 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
441 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
1answer
6k 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
259 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 23/03/...
-4
votes
5answers
394 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
3k 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
55 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
701 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
819 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
1answer
83 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
11k 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
2k 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
154 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
2k 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, ...
13
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
211 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 ...
7
votes
2answers
1k 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
326 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
123 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? ...
12
votes
3answers
33k 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
2answers
299 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
1k 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 ...
10
votes
4answers
13k 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
296 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
807 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?
0
votes
1answer
112 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 example,...
0
votes
0answers
156 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. I ...
0
votes
2answers
377 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
2k 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 sums....
-1
votes
1answer
50 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.