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.
6
votes
1answer
1k views
Difference between a (credit union) “share certificate” and a (bank) CD?
I've seen both Share Certificates and Certificates of Deposit available. Are they the same thing? Do they have different names based on whether they are offered at a bank or credit union? Does one ...
8
votes
6answers
1k views
Do you keep ATM receipts? Why might keeping bank ATM receipts be a good habit?
Do you keep ATM receipts?
I've occasionally heard some bank-insider's tips that say it's a good habit to keep the ATM receipts and check them against the online bank log.
Having a programmer ...
6
votes
6answers
459 views
Would you withdraw your money from your bank if you thought it was going under?
The Texas Ratio attempts to measure how well a bank can cover its losses on nonperforming loans. A ratio over 100 indicates the bank is in trouble.
I cross referenced the texas ratio for banks ...
8
votes
4answers
211 views
Should I switch to this high rate checking account for my emergency fund?
Okay, so I bank at a local credit union, AllegacyFCU. (Here is their rates sheet.)
Currently I have through this bank:
Daily Access Savings account with 0.2% interest
Totally Free Checking (no ...
7
votes
3answers
3k views
Are these checks usable?
I recently opened an account at a credit union here, which includes a checking account. They gave me a book of checks on the spot.
Are they valid and usable? They simply came out of the drawer and ...
13
votes
2answers
321 views
What's the difference between credit unions and banks?
Is one better than the other?
I've noticed that national banks seem to charge more (and higher) fees. Is that just me?
2
votes
1answer
432 views
What are advantages of certificate of deposits compared to a deposit account?
As far as I know when someone wants to deposit money in a bank he can choose between a deposit account and a certificate of deposit. With a deposit account a person is assigned an account bound to his ...
2
votes
1answer
430 views
What is the difference between the different types of bank in Canada?
In Canada banks are referred to as tier 1 and tier 2. What are the differences between them? What services are they allowed to offer and not offer? Are all covered by the CDIC?
5
votes
2answers
248 views
Do banks keep their reserves at the Fed in cash or can they be kept in US Treasuries?
This chart at the St. Louis Fed has a lot of people worried about future inflation, because it represents idle money that, when lent out, could eventually flood the world with 10 - 12 trillion new ...
8
votes
5answers
343 views
Should your rainy day / emergency fund be in the same account as general savings?
Should your rainy day / emergency fund be in the same account as general savings?
14
votes
5answers
10k views
Is there a limit on the dollar amount of a personal check?
Is there a limit on the dollar amount of a personal check?
7
votes
3answers
7k views
Is it possible to cash a check made to someone else's name? How to do so?
Is it possible to cash a check made to someone else's name? How to do so?
7
votes
3answers
4k views
Bank Draft vs. Certified Cheque - when is it appropriate to use one or the other?
Bank drafts and certified cheques are similar but have different costs associated with them. When is one more appropriate to use vs. the other?
2
votes
2answers
2k views
What's the difference between a Chequing account and a Savings account?
Because I know you can draw cheques from a savings account, so what gives?
15
votes
2answers
933 views
What are the advantages of a Swiss bank account?
I've heard about bank accounts in Zurich / Switzerland, but I don't fully understand the unique advantages of swiss bank accounts. What I do believe about these (but don't know for sure):
They ...
5
votes
2answers
187 views
Is there any site to compare the security of (online) banking services?
I work in the computer industry, and I know a few things about security, like the fact that those "security questions" that you're asked for are pretty much completely bogus and not useful as ...
27
votes
4answers
792 views
Are bank customers allowed to provide username & password to sites like Mint.com?
This question is not about whether Mint.com is secure, or not. That is beside the point. (Refer to this question on the subject of trusting Mint.com and similar services.) Rather:
Are bank ...
12
votes
6answers
1k views
How easy is it to open a foreign bank account via the internet?
Has anyone attempted opening a foreign bank account, if so what was your experience? how easy was it? Which country?
14
votes
5answers
522 views
Is “Fractional Reserve” banking real?
A good friend of mine keeps telling me how all money is created from debt, with only a tiny fraction coming from the bank's actual reserves. Which he refers to as "Fractional Reserve Banking".
As he ...
9
votes
4answers
254 views
What's a Letter of Credit? Are funds held in my bank for the amount in question?
Can someone easily cash one? Is it used for business only, or is there an advantage to consumers using them as well?
7
votes
3answers
2k views
US Bank placing a hold on funds from my paycheck deposit: Why does that make sense?
I've just received my first paycheck in four months (yay!). In the meantime, my bank account went about $150 negative. That's one of the reasons I deposited my paycheck into that bank account - I ...
8
votes
1answer
184 views
What are the benefits and risks of doing your banking through a credit union, versus a bank? What's the difference?
What are the major differences to having your mortgage, credit, savings/chequing accounts with a credit union (or caisse populaire, in Québec) versus just a regular bank?
3
votes
2answers
69 views
What is the risk to me of moving my money to a smaller bank?
In light of the events in the banking market over the last few years, there have been calls from some quarters for investors to move their money from the larger banks, so they are no longer "too big ...
8
votes
3answers
541 views
Which bank (checking & savings) offers the best interest rates, lowest fees, and is FDIC insured?
We currently use ING for our banking and like a lot of its amenities, but their rates (as most banks, I'm sure) keep going down, down, down. The current savings rate is 1.25% APY and checking rate is ...
5
votes
2answers
103 views
Why Are Credit Card Rates Increasing / Credit Limits Falling?
I thought that there was recent legislation passed that forbid banks for jacking up rates as they had been doing from late 2008 into the first half of 2009. All of my credit cards have seen increases ...
2
votes
1answer
99 views
What is covered by the CDIC?
In the unlikely event that a financial institution fails in Canada, what is covered by the Canadian Deposit Insurance Corporation? What is the limit of coverage?
6
votes
4answers
108 views
How can I save on banking charges?
What tips and tricks do people use to keep the cost of banking down?
7
votes
3answers
243 views
Should I keep most of my banking, credit, and investment accounts at the same bank?
I have two bank accounts (checking and saving), some credit cards (3), a mortgage, an investment account, and an individual retirement account. Right now all of those accounts except two of the credit ...
6
votes
3answers
108 views
What bank deposits are insured in the U.S.?
What kind of bank deposits in the U.S. are insured against banks going under? What do I need to look out for to make sure my money is safe?
