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2
votes
1answer
115 views

If a check was made out to my name instead of my business name, is there some way I can still deposit it into my business account?

I am working as an independent contractor, and my first check was made out to my personal name instead of my business/corporate name, can I sign the check over and consider it as income for the ...
3
votes
4answers
157 views

Are there special endorsement requirements for US Government checks to two parties?

At a bank where I have a checking account in my name only, I regularly cash a dividend check made out to my wife AND me. My wife endorses the check at home and then I stroll down to the bank and add ...
4
votes
2answers
94 views

What payment options are there besides checks and direct deposit?

My employer is planning to require all employees to be paid by direct deposit. A number of our employees are unbanked, and opening an account is not practical. I understand the employer's concern to ...
4
votes
3answers
318 views

Checks made out to multiple parties with 'and'. How can I deposit it with one signature?

I am receiving payments from a lawsuit in my favor, with three other plaintiffs. The payments we are receiving are personal checks, made out to all off the plaintiffs with 'and' joining the names. ...
27
votes
6answers
4k views

What, if any, are the downsides of direct deposit?

After many years, my employer is offering direct deposit. I've used direct deposit before at other jobs. Are there any downsides or cons to using direct deposit?
-2
votes
1answer
83 views

From ACH direct debit to Prepaid card?

I am searching for solution how to be direct debited (ACH) to personal or business bank account where those funds would arrive (deposit) to prepaid card? The solution must meet all three of the ...
2
votes
0answers
62 views

Accepting a deposit into my mortgage from a third party and paying them interest

I'm a net borrower with a variable interest rate mortgage secured against my house. Let's say there is $200,000 owing and I'm paying 5% interest to the bank. It has a redraw at-will facility and I'm ...
5
votes
2answers
319 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? ...
0
votes
1answer
84 views

Can personal banking customers use the BMO Harris Bank remote cheque deposit system?

I live in Canada. I notice that BMO Harris Bank offers remote cheque deposit software, powered by DepositEdge, for its commercial banking customers. But I only have a personal banking account with ...
3
votes
1answer
167 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 ...
9
votes
3answers
1k views

Why deposit interest rate in the same currency is different from country to country? [duplicate]

My bank offers 11% interest rate for 1-year deposit in USD. This is similar to what other Ukrainian banks offer, but much higher in comparison with our neighbourhood countries, Belarus (3.5%) and ...
2
votes
4answers
159 views

account number/password/username/full name?

Someone in another state asked me to be his personal assistant. From the start I was suspicious. He said he was doing a lot of projects in my state and needed my help. Then he said he needed to ...
2
votes
1answer
122 views

Where to park large amount of money that should be easily accessible?

I will be receiving over 100k to 500k in an insurance settlement and I want to know where I should park this money so I can access it with a card or check. I dont want it tied to the stock market but ...
0
votes
1answer
89 views

Is retaining a deposit for an apartment in this scenario considered legal?

My son and his wife put a deposit down on an apartment. Their application was approved and they are to move in soon. Yesterday they found out they suffered an "identification theft" and their credit ...
7
votes
2answers
218 views

Is it possible to reject a direct deposit?

I received a direct deposit on my bank account (in the US): is it possible to reject it?
0
votes
1answer
156 views

deposit into a single checking account with a joint account

I have a check written out to me and my spouse, I need to deposit it an account that he is not on, he signed it and is out of town, will my bank let me deposit it ??
16
votes
7answers
1k views

Investing small amounts at regular intervals while minimizing fees?

My daughter is about to turn one year old and I'd like to start some sort of investment account for her. The purpose would be to invest her birthday and gift money into the stock market each year. I'd ...
1
vote
1answer
55 views

Interest on a deposit

In NC Can I sue for the interest on a security deposit that was in escrow for over 12 year's? My former landlord died and my deposit was with held unlawfully , can I sue for three time's the amount of ...
1
vote
2answers
194 views

Fixed Deposit or Recurring in ICICI

I live in USA and have no income in INR. But I keep transferring money to my ICICI account. I want to open FD/RD in ICICI. Q1: Which is better option and provide good returns between FD and RD ? Q2: ...
4
votes
2answers
778 views

What is the proper way to hold a subtenant's rental deposit?

I have recently leased an apartment with a friend, and we've subletted out a room to another girl and collected her security deposit. I want to store it in a savings account without touching it, but ...
15
votes
4answers
6k 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
4answers
262 views

Buying Fixed Deposit in India from Europe

Given the chance, does it pay off to open a FD in India (high interest rates, high inflation) with Euros (low interest rates, low inflation) from Europe? Or is it too risky on the long run (~ 1 ...
2
votes
1answer
373 views

Interest on last month rent deposit

I am not sure if this applies to all of Canada, but in Ontario, when a tenant rents an apartment, the landlord is entitled to ask for a deposit up to the rent of one month. From the website of the ...
2
votes
2answers
200 views

How to calculate ROI on investments? [duplicate]

I looked through the previous questions, and couldn't find one that quite addresses my question. If I start with $1000, and through investing it goes to $1200(100 shares at $10 go to $12), I can say I ...
2
votes
1answer
171 views

VAT on refundable deposit

I have recently signed contract to let small office space, agreeing to pay the refundable deposit to cover any damage I would make. The company issued the invoice for the deposit including 20% VAT. ...
0
votes
1answer
112 views

Cashable copy of a check

what does it mean when BOA sends you a cashable copy of a check deposited in an ATM that was not endorsed
0
votes
1answer
939 views

Help with calculation of interest on a security deposit on a rented house?

I know you answered a similar question on another post but I am in dire need of help. I was wondering if you could help me out with my security deposit calculations? We paid $1795 for our deposit in ...
9
votes
1answer
719 views

Can a foreign bank manager name me as the kin of a deceased customer if I don't know the person?

A few days ago, someone emailed me and said he is the branch manager of an overseas bank. He asked me to join him in an agreement. He has a deceased customer who is a citizen of my country and who has ...
4
votes
1answer
425 views

How does bank deposit insurance work in Singapore?

When I check bank web sites in Singapore, they usually post something like below: Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under ...
7
votes
1answer
124 views

Can I get my payment back on a vacation booked with a company that went into receivership?

My friend booked a summer vacation with a resort/inn located in Ontario that has just gone into receivership. She paid in FULL with a credit card about a month ago. Is there any way to get her ...
0
votes
1answer
165 views

EU deposit guarantee fund for failed state guarantee

I am not able to find reliable information on this topic. Generally speaking, all deposits in EU banks are secured by national guarantee fund up to about 100k. Image a national fund would fail because ...
2
votes
1answer
111 views

Ink Stamp for Depositing Checks

If I had a personal checking account that I made frequent small deposits into, would it be possible to use a custom stamp instead of a signature endorsement? What information would need to be on the ...
9
votes
4answers
1k views

Is the money that you get back from deposits or rebates taxable?

Please help me understand if the following two items are taxable or if they should be included at all on the tax report: Rent deposit. A few years ago, when I moved in my previous apartment I put a ...
0
votes
3answers
291 views

Why some banks require some particular software to take photos of checks for deposit?

Some banks accept photos of checks for deposit the checks. But they require some smartphone with some particular software. e.g. https://www.fidelity.com/mobile/android I wonder why they would require ...
4
votes
2answers
5k views

Calculate Future Value with Recurring Deposits

I am familiar with the formula for calculating FV and compound interest of a deposit, but I am wondering if there is a formula that will allow me to calculate how much money I will have after ...
7
votes
2answers
346 views

what are the pros and cons of structured deposits?

This morning, I came across the term, structured deposits. As I am still learning about finance, I am quite curious on different types of deposits. In layman's terms, What is a Structured Deposit? ...
5
votes
5answers
8k views

Are bank account numbers unique?

If somebody sends me money and I write the swift code wrong, will the money go somewhere else? I know bank account numbers are unique within a bank, but will are they unique globally? Update: I ...
5
votes
6answers
48k views

How can I deposit a check made out to my business into my personal account?

When I invoiced this company, my invoice specifically said to make it payable to me personally, not my business (since I don't have a business account besides PayPal). Unfortunately, they made it out ...
2
votes
1answer
123 views

In case of Islamic banking what is the technique of adding profits to long-term deposits?

As we all know that Islamic Banking avoid interests. Then, what is the technique of adding profits/returns to short/long-term deposits or any deposit?
1
vote
3answers
14k views

Deposit money to credit card

Let's say I know a credit card number and the card doesn't belong to me, can I deposit money on that credit card? The receiver will not object getting extra money. But is this possible and how you do ...
3
votes
2answers
70 views

Overspending on an IRA issues

I have an IRA with a discount online brokerage company and somehow they let me overspend on my account. I bought something and I ended up paying more because the transaction went through the day ...
0
votes
1answer
397 views

Cashable, Depositable Or Redeemable On Invoice?

I will be issuing invoices to my customer very soon. I don't know whether I will be cashing or depositing the cheque sent in for payment. What is the best way to communiate this to my customers? ...
3
votes
1answer
910 views

If I default on my mortgage do I get my deposit back as a % of the sale of the property?

Say I put down 50% deposit on a house (in the UK), and the other 50% is provided through a mortgage, what happens if I default? Does the bank walk away with the property and the potential of selling ...
2
votes
1answer
123 views

Difference between clearing a check and hold on funds

Quick question on banking terminology: Can a check deposited in a U.S. bank clear, but still have the funds be subject to a hold? Or are clearing and not having a hold the same thing?
5
votes
1answer
164 views

Which jurisdictions levy a tax on depositum irregulare?

Depositum irregulare arises when a person deposits a certain amount of money or goods to be temporarily kept by another person, who is obliged to return the same amount and type of money or goods, but ...
6
votes
3answers
6k views

Can my significant other deposit a check made out to me?

We share a bank account; if the check is made out to me personally, can I have my other half run it to the ATM while I'm at work? Also, is it legal to do so?
3
votes
1answer
293 views

What do I risk by having deposited US Dollars in a Certificate of Deposit in a Greek bank?

I have US$ in CD in a Greek bank. What would happen if the bank folded, or Greece withdrew from the Euro/EU, or if there was a (even more) major financial crisis in Greece?
3
votes
1answer
353 views

How to handle Client Deposits in Xero (or any finance software, really)

This is likely a novice question and (hopefully) easy to answer. I'm a web & software designer/developer and using Xero to manage finances. With new contracts I require a deposit of 30% of the ...
3
votes
1answer
146 views

Deposit insurance in India: Is the limit per deposit, or per individual?

Is the deposit insurance of 1 lakh, per deposit or per individual (PAN)? If it is per deposit, would it be better to have for example 4 FDs of 1 lakh each instead of one FD of 4 lakh? (Of course it ...
9
votes
2answers
196 views

Can I recover my deposit (for a future purchase) from a company whose assets are frozen?

We recently paid a catering company $1400 as a deposit for our upcoming wedding. The company was highly recommended by a number of previous clients and had been in business for over a decade. Then ...