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A generic tag for questions on Bank Account. For specific questions use the "savings-account", "checking-account" or other specific tags. It is recommended that a specific country tag be used to indicate the geography of the question being asked

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24 views

open an estate account without going into a branch

I'd like to know if this is possible. Presently, the administrator is located in another country from the deceased. She has all of the necessary documentation, but will be unable to go to a US branch ...
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3answers
177 views

what am I missing - why do I need to have accounts with “conventional” retail banks (in US) in 2018?

Chase, Citi, BoA and Wells Fargo are in my book the "conventional" retail banks. In 2018, they offer close-to-zero interests in most of their accounts and only offer managed investment accounts. In ...
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0answers
51 views

What is the equivalent of a nominee system in US banks?

If I want to ensure that my bank account funds are transferred to my parents, who live in India, (I would assume through some legal proceedings) in my absence, is there any method to nominate them ...
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1answer
68 views

How do I form a portfolio with excess return scaled down?

Say we have a market of only 1 stock along and a bank from which we can borrow. Say the stock has an expected return of 10 % and the bank charges 5 % interest on deposits and loans. Now I know that ...
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1answer
46 views

linking external bank accounts to other banks

A well known bank in my area mentions you can link external bank accounts and superannuation funds to your one bank account so you can conveniently see all your funds and net worth in one place, but ...
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11answers
11k views

Why is a transfer from an account to another not done instantly when it's not the same bank?

I own accounts at two different Romanian banks. When I transfer money to another account at the same bank, the money is transferred immediately. However, when I transfer money to an account at a ...
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3answers
451 views

Spent money from unexpected deposit. Do I have to pay this back?

A check was deposited into my account of 2,500$ I didn’t think anything of it and I used the funds now they’re forcing me to pay it back. My name was forged. I was told, the bank it came from had 5 ...
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1answer
175 views

Who loses money stolen and laundered via an app platform (Steam)?

Imagine a scenario like: 1. Hacker steals credit card info. 2. He uses stolen card to buy virtual assets on Steam. 3. He sells these virtual assets to other unsuspecting players in exchange for ...
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2answers
135 views

In the UK is it illegal for banks to open current accounts for non-residents/tourists?

To phrase it another way, if a Singaporean tourist walks into a MetroBank or HSBC branch in London, would the bank be allowed by the FCA to open a current account (at the branch managers discretion ...
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1answer
89 views

Can an IBAN be reallocated to someone?

I wanted to wire some money to my parents today and was not sure about the IBAN number (it may have changed in the meantime via a reorganization of their accounts or a bank change). This made me ...
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2answers
59 views

Resident vs Non-resident alien in the United States

I have been in the United States since August 2015 in an F1 visa. I was away from January 2018 to May 2018 in Denmark for study abroad. I do have a SSN as well. I wanted to open a savings account in ...
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1answer
59 views

Negative balance effect credit score

I have an saving account in Oriental Bank. I am not using this account for last 1.5 year. Currently the balance is negative. I am staying in Bihar since last two year. It is not possible to go ...
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10answers
10k views

18 years old and unsure how many bank accounts to create and what types

this is my first question so I apologize if I don't provide enough information or my description seems vague. I'm 18 and live in the Midwest of the US. My parents helped me set up a bank account last ...
3
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1answer
1k views

Can a withdrawal on another party's bank account succeed if that account is insufficiently funded or is closed?

Suppose Party A attempts to withdraw some money from Bank Account X belonging to Party B. Bank Account X is either closed or has insufficient funds, but Party B also owns the well-funded Bank Account ...
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2answers
98 views

How do I avoid excessive fees when I get paid in CHF and need EUR?

I live in Germany and will soon receive monthly payments in CHF. How can I best transfer this money to my local bank account (EUR)? My local bank charges 20 € per conversion and uses an unfavorable ...
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1answer
124 views

Preventing inactive Chase bank accounts

I had recently opened a Chase savings account and a checking account. I planned on using my checking account as a direct deposit. Would automating transfers from checking to savings prevent my savings ...
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0answers
164 views

What is the most private way to bank? [closed]

I am looking to keep a couple grand as an emergency fund in an account that is as hard to find as possible. Nothing special, just a cash deposit that can sit there until I need it, which is hopefully ...
2
votes
1answer
65 views

Open accounts for a purpose without full ownership

There are several types of accounts that I would like to pay into and never payout from until a certain need arises, however I am not sure I have the discipline to not tap into them in-case of ...
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0answers
38 views

Managing a grant [closed]

My team of non-paid volunteers have received a grant to my name to fund a charitable project. In order to receive the payment, we have been asked to produce a bank account. So I need to create one ...
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0answers
31 views

Foreign bank account Information shared under CRS

For the CRS(Common Reporting Standard), according to the wikipedia page, the following information is exchanged automatically between nations: a) Name, address, Taxpayer Identification Number and ...
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5answers
171 views

What are the currency rules when lending money to a friend?

Let's assume Alice lends 5000 EUR to Bob for three months (because that's what Bob asked for). But Alice's bank account is in USD. So, on 1st of January 2018, Alice looks at the exchange rate of EUR/...
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vote
1answer
159 views

Is money in a European bank current account guaranteed by the state? Which state/fund guarantees?

I have a sum of money in a European bank, and I prefer to have it in a current account for two reasons. One, I don't know how much over the coming year I will need to spend without notice and two, the ...
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1answer
104 views

What personal data can a US bank legitimately request when I want to open a checking account?

I am trying to open a bank checking account online in the US. I have provided my US driver's license number and Social Security number. I have provided evidence that I have access to another bank ...
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0answers
85 views

Can I cash a cheque at Bank of Austria without having an account there?

I will receive a cheque (from an Austrian company) during my stay in Austria (in the near future). Can I cash it (in Euro) at Bank of Austria without having an open account there?
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1answer
107 views

Lost check made out to a school organization

Today I lost a sizeable check made out to a school club. What should I do? Can anyone who finds this check use my acct number to withdraw funds? Currently, the check has not gone through or been ...
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1answer
72 views

Bank's Reporting Responsibilities on Closing Accounts

Is a bank required under law to report the bank's closing of your account to ChexSystems or any credit reporting agency
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2answers
278 views

Moving relatively large amount of money from one account to another

During a summer I worked in Norway and made a decent amount of money (~ $10k). Due to tax reasons, I had to open a bank account there I am now living (and will soon be working) in the UK and I have ...
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0answers
19 views

See reported data under OECD AEOI?

In the US, we can access data about us (such as credit report data used by lenders) under FOIA or Freedom of Information Act. Since the US has FATCA for international account disclosure, other ...
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0answers
190 views

Opening a Swiss bank account for a non-resident [closed]

I'd like to open a personal account mainly to invest in stocks and bonds, in a Swiss bank. I'm a European resident, but the banks are crappy in my country (not Western Europe). So I'm looking for a ...
3
votes
1answer
303 views

How to wire transfer from Europe to a CIBC account please?

I am trying to receive money from a European company to my Canadian CIBC account. I received the SWIFT CODE - CIBCCATT from my bank. The company also asked for a BSB NUMBER. The person I spoke to at ...
2
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2answers
510 views

Please help: Is it safe to give this personal and banking information to someone? [closed]

Is it safe to give this information to someone? Name of Account Holder: Name of Bank: Bank Account Number: Address of the Bank Branch: Bank Swift Code: Phone Number of ...
0
votes
2answers
373 views

Is there a limit of how much one can get wired to a US bank account from another bank account in a foreign country?

I know about the 10k limit if you deposit cash where you are required to fill out a form. But what about a bank to bank wire transfer? Is there a limit to how much you can receive before you have to ...
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1answer
145 views

How to know which bank will keep my data safer? (Europe, single country)

I was looking at four banks in one country, which are based in France, Belgium and 2 in Austria, and I was looking for something that would make me choose one over the other... So I thought what's ...
6
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1answer
244 views

Why does CDIC insure deposits only until $100,000?

$100K CAD appears a low maximum, esp. for retirees. FDIC does so until $250K USD.
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2answers
249 views

Bank account when owner dead

What does a bank typically do when the account owner dies, and nobody came to claim the money? Do they leave the money in that account ad vitam aeternam, or does it get collected and used at one ...
1
vote
1answer
49 views

Can I open an account in Europe or Turkey ,being just as a tourist?

is it possible for a foreigner, the person not residing there but can travel as a tourist, to open an account in Europe or In middle east countries like Turkey or Dubai?
2
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2answers
137 views

Checkbook was turned into police dept. Is there a way to figure out what checks (if any) are missing?

I know that bounced checks can bite me in the ass later, but I have no idea whether any of the checks were actually taken out of my checkbook. I thought about looking at my bank account, but I visit ...
2
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3answers
237 views

Can you withdraw money from my Swiss Bank account with just the account number and password?

Wondering if it works the way it does in the movies, where people only need an account number and a password to access their Swiss bank account.
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1answer
59 views

Transferring money [closed]

A friend working in South Africa had his American bank account closed due to a hacking incident. He now wants to get his payout check transferred into my Australian account as he is coming to ...
4
votes
1answer
138 views

Personal use by parent of a minor's bank account

My granddaughter receives survivor's benefits by direct deposit. Her father's name is on the account as C/F (custodian for?) Her father cashed a personal bogus check for a friend and when it bounced ...
2
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1answer
155 views

Opening an account when in another country

I was wondering if a person living in another country who is an American citizen can open a bank account in Canada
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1answer
113 views

What is the IBAN of this Serbian account?

I need to pay 620 Serbian Dinars to "budget account No. 840-742221843-57, model number 97, reference number 59-013" What is the IBAN of this account?
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1answer
64 views

L1 Visa US to India (and vice versa) transaction tax implications for Wire transfer and Cryptocurrencies?

My brother is moving to the United States with an L1 visa. What would be the tax implications for me and for my brother in the following scenario 1- I send $3000 as outward remittance to his account ...
4
votes
2answers
158 views

What should I do if my credit card company isn't debiting my bank account even though they're crediting payment?

I've been paying my credit card every month at the company's website. They credit me, but never debit my bank account. My bank says the requests are never received from the credit card company (I ...
2
votes
1answer
123 views

Bank account question

On Nov. 16th last month my buddy used my debit card to order something online for $245. He gave me $250 cash, I deposited it, and bought the item he wanted online. The money was taken out of my ...
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vote
1answer
976 views

How do I transfer regular savings to an NRE or NRO account?

I have a regular saving account with some amount in it, now I am an NRI so I want to either switch my saving account to NRE account or I want to transfer money from savings account to an NRE or NRO ...
8
votes
1answer
258 views

Savings account versus corporate bond

I am looking at buying a bank corporate bond instead of placing money into a savings account. Say I buy a 2 year maturity corporate bond, that yields exactly 2% per year (in terms of yield to ...
0
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2answers
190 views

Loan holder wants a check from the insurance company that I already cashed and used to repair my car

What would happen if you was to cash a check, didn’t realize it was to you and your finance company, take it to a local business that has a money center, they cash the check without even having you ...
2
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1answer
656 views

How to trace a failed SEPA bank transfer

A UK bank initiated a transfer for a client of mine to my own account. The wire was in EUR and my account is an IBAN EUR account. 7 days passed and the money are not with me. They did not return to ...
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0answers
38 views

What is the proper name for the formula which calculates interest for the account with the variable funds amount during the billing period?

Let's assume we have an investment fund with holders, who may transfer funds from this fund between each other. We can track how much funds each holder has on his account at any moment. There is some ...