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Questions tagged [bank-account]

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

118
votes
2answers
696k views

Is it safe to give out one's bank account number?

I'm managing the utility of the house and I'm sharing with another person. He asks me to provide my bank account number, so that he can transfer his money to my account when paying the utility. I ...
93
votes
10answers
75k views

Scam or Real: A woman from Facebook apparently needs my bank account to send money

A woman on Facebook recently contacted my dad. She asked him to get a bank account so she could send him money, and he would send money to her employees (about 12 people), and she would pay him for ...
56
votes
4answers
12k views

Closed account, haven't received payment. When has the bank “stolen” my money?

Background I closed a checking account over 40 days ago at a large national bank in the US. I was told I would receive a check for the remainder (>$1000) in one to two weeks. I still have not ...
53
votes
3answers
11k views

Counterfeit checks were created for my account. How does this type of fraud work?

Two days ago, first thing in the morning I updated my quicken accounts and saw that my primary checking account had two unidentified checks totaling several thousand dollars, wiping out the account ...
47
votes
8answers
11k views

How to organize bank accounts with wife

My wife and I are recently married, both of us are working hard. At the moment we currently have the same system as prior to our marriage. Which simply put is that both of have our own bank accounts ...
47
votes
7answers
173k views

What is the purpose of endorsing a check?

Why do you need to sign a check on the back when you deposit it to your account?
43
votes
11answers
13k 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 ...
41
votes
7answers
51k views

A guy scammed me, but he gave me a bank account number & routing number. Can I use that to take out what he owes me?

This is a really weird situation. A guy contacted me regarding a business I have. He offered far in excess of my stated fees and even told me he could help me financially if I needed it, which I do. ...
33
votes
6answers
8k views

What risks are there acting as a broker between PayPal and electronic bank transfers?

I have a company offering a position as a transaction representative, they're located in Poland and say they can't take direct payments or use Paypal due to "money amount limits" on Paypal there. ...
32
votes
4answers
6k 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 accept ...
30
votes
8answers
11k views

A friend wants to use my account for a wire transfer. Is this a scam or is it legitimate?

I have a friend since July online and Exxon owe him for a balance on a 2014 contract off the shores of Liverpool. He is presently in the Gulf of Mexico completing a contract that last for one year. ...
30
votes
4answers
6k views

Why do most banks in Canada charge monthly fee?

I am not sure about other countries, but here in the UK we mostly don't need to pay a monthly fee. But I was a bit surprised to learn that most Canadian banks do charge monthly fees that some of them ...
30
votes
6answers
123k views

Can I open a US bank account even if I don't live in the country?

I'm Swedish, but living in Switzerland at the moment. Can I open a US bank account? Either when in the US on vacation or through the internet/phone? Lots of situations when I find myself in need of ...
29
votes
4answers
6k views

Changing Bank Account Number regularly to reduce fraud

4 others and myself are going through the motions of renting a student accomodation in the UK. So far we have had to pay a holding fee to secure the flat. To do this we were given an account number ...
29
votes
5answers
77k views

Why is there a limit of 6 ACH transfers out of savings accounts (per month)?

I recently discovered this limit the hard way, after being charged a fee for each transfer over the limit. With online banking becoming so prevalent, this is a huge inconvenience as it prevents people ...
26
votes
6answers
6k views

Umlaut Character in Account Holder Name (German Bank)

I sent a payment through international bank transfer to Germany. But, the account holder name has special characters like ö, ä, ü, and etc. In my case, it's ü. Is there any other words that are ...
26
votes
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 ...
24
votes
2answers
7k views

Why does it take 3 days to do electronic transfers between banks? [duplicate]

It seems like electronic transfers can take 2 - 3 days to complete. For example, when I ask my online broker to transfer money from my checking account, the money won't actually be available to trade ...
21
votes
9answers
8k views

Second (easy access) account in case my bank screws up

Sometimes banks screw up. At the moment I have a single login with a single bank (various accounts inside). I'm not that rich, so that's no biggie. I'm under the personal savings insurance limit, and ...
19
votes
7answers
178k views

Can foreigners holding US tourist visa create a bank account in USA?

I am not a US citizen and want to visit USA as a tourist. Since withdrawing money from my home-country bank account will cost much, it is better to open an new bank account in US (after arriving) ...
18
votes
2answers
21k views

How to access a really old, untouched bank savings account?

I was just going through old things and found a Wachovia account opened for me by my aunt - specifically, I found the checkbook and transaction record. The transaction book is dated April xx, 1998 and ...
17
votes
3answers
4k views

Should you bank with multiple banks? What are the advantages/disadvantages?

Currently, I have everything in one bank. Checking/Banking/Investment/Credit cards. In fact, the accounts are linked. It seems to make sense to me because I can manage everything at one place. ...
15
votes
3answers
15k views

How does Wells Fargo use my phone number to find my Bank of America account?

I'm extremely confused about how Wells Fargo's SurePay transfers money to Bank of America. I've set up my Bank of America account to use my mobile phone number to receive payments. Now someone sent ...
15
votes
8answers
20k views

PayPal wants me to “add a bank account”, another funding source. Credit card isn't working. Why?

This is the second time in the last couple of weeks that I'm seeing the following error from PayPal. (Note: I've deliberately hidden the name of the merchant at the top.) "You cannot use this ...
15
votes
4answers
1k views

Are there alternatives to double currency account to manage payments in different currencies?

I get paid in US dollars (USD), but I live in Hungary, where fiorint (HUF) is used. Right now my bank account has two accounts, one in USD, one in HUF. I receive the money on the USD account and I ...
15
votes
7answers
5k views

Savings vs. checking account — when to prefer savings if interest is the same?

Let's say I'm opening a new checking or savings account, assuming: I already have another checking account All accounts offer the same interest rates Why would I ever choose to open a savings ...
15
votes
2answers
1k views

Any reason to keep around my account with my old, 'big' bank?

I recently opened a new account with a credit union and would really like to stop doing business with my current bank (BMO Harris), but before I do, I'm curious if there are any important things to ...
14
votes
1answer
5k 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 ...
14
votes
6answers
9k views

Should I have separate savings accounts for various savings goals?

I have read through some personal budgeting articles and saving tips. Most articles and books mention saving money for emergency funds, large purchases, etc. Should emergency funds and saving funds (...
13
votes
5answers
17k views

Is there such a thing as a deposit-only bank account?

My employer wants me to give my routing-numbers, social-security numbers, and basically everything else required to take money out of my account, to several third-party direct-deposit websites (one ...
12
votes
2answers
1k views

Bank of the Sierra: Are they legit? How can the checking interest APY be so high?

As of February 8th, 2009, Bank Of The Sierra offers a free checking account which earns a 4.09% APY. It looks like the catch is that you pretty much have to use them as your main bank. You need to ...
12
votes
2answers
7k views

What's the difference between wire transfer and ACH?

My sponsors have two ways to transfer money. I wonder what's the difference?
12
votes
1answer
22k views

How do multi-currency bank accounts work? What is the advantage?

I've recently read that banks are offering multi-currency accounts to their business customers. How do they actually work? Is it one bank account and the balance is available in, let's say for example,...
12
votes
3answers
12k views

can the government or debt collectors garnish money from any bank account to which the debtor has access?

A trusted family member has access to my savings account. The savings account is mine, but the family member's name appears next to mine, which means that they are entitled to withdraw money from the ...
11
votes
3answers
585 views

At what age should I begin discussing money - saving, spending, investing - with my child / children?

In addition, when should I open a savings account at our bank for my kids; and give them accountability over it?
11
votes
3answers
1k views

What are the cons to using a brokerage account for day to day banking?

I've noticed (for awhile now) that my online discount brokerage account carries many features of a traditional bank account: Online bill pay Direct Deposit Checks ATM Card FDIC or SIPC coverage Cash ...
11
votes
3answers
24k views

Is transferring money in multiple small transactions dangerous?

I've got a transfer limit of 1k on my account at a bank. At one point in time, I wanted to transfer a larger sum (upper 4 digit range) from this account to another account at a different bank. To work ...
11
votes
1answer
816 views

10 yr old checking account in USA closed automatically by the bank due to no activity, can I recover the money?

I used to have a checking account in a US bank (Suntrust). I've long ago stopped using it because I moved out of the country. There was no activity on the account for 10 years, and the bank closed ...
10
votes
3answers
7k views

In which circumstances can I open a bank account without SSN in the USA?

I wonder in which circumstances one can open a bank account without a Social Security number in the USA.
10
votes
3answers
1k views

What exactly happens to Euro if one of European Union countries goes bankrupt?

What happens if one of the European Union countries goes bankrupt? Suppose I have money (bank deposits at local banks) in US dollars, Euros and local currency (I'm not in the US). Now one of EU ...
10
votes
2answers
3k views

Money sent to loan account after it has been paid off and closed

For the last few months I have been paying off a loan via automatic payments from my current account that transfer over automatically each month. The loan got paid off and the bank closed the account. ...
10
votes
1answer
199 views

Opening a bank account in China

I'm trying to open a account with any of the major banks in China, but I live in the US. Is this possible and how would I go about doing this? I would also like to be able to transfer money between my ...
9
votes
4answers
489 views

How to make it harder to access my money

I want to start being more sensible with my money, this is especially hard around payday when I receive a month's-worth of pay at once. It's all too easy to go for a couple beers after work only to ...
9
votes
3answers
46k views

How can I get free or discounted checks for my bank account?

I bank with chase and my account type does not qualify me for free check books. I have to pay a fee to get a check book. Is there a way I can: Get a free check book for my account? Print my own free ...
9
votes
3answers
1k views

If banksimple.com is not a bank, what is it?

I came across Banksimple.com, and I was wondering whether or not it is safe to entrust your money to. The About Us page says We partner with select deposit-taking institutions. We spend our time ...
9
votes
1answer
1k views

How do I close a bank account that I no longer have any information for?

There is a Barclays bank account in my name that is overdrawn that I haven't touched in about 5 years. I went to the bank with my passport, and they said that it wasn't coming up on the system with ...
9
votes
3answers
1k 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 ...
9
votes
2answers
160 views

Joint Account for Common Earnings

I've started a tutoring group with two of my peers; the three of us are minors in the state of Ohio. We charge a modest fee and generate approximately $2,000 in revenue per month. We plan on charging ...
8
votes
6answers
2k views

How can my friend send $3K to me without using Paypal?

My friend is a paraplegic. He can't go to the bank and wire the money. He used to send money from our partnership via paypal. Now I am banned from paypal. What's the alternative? Google checkout? I ...
8
votes
4answers
8k views

How can a U.S. citizen open a bank account in Europe?

Since interest rates are higher in the Eurozone than in the U.S., I'm exploring the possibility of opening a Eurozone bank account. For example, ING Direct is offering 3.5% on a 12-month CD, whereas ...