Questions tagged [banking]

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.

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-5
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3answers
228 views

Fraud or not: a stranger wants to transfer a lot of money to me [duplicate]

I have recently received an email from a stranger that says she wants to send me a big deal of money for some specific reason and she said that she has talked to the bank (Banque Atlantique Groupe ...
1
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1answer
91 views

Money is credited from unknown source

If money is credited from unknown source is it legally binding to inform the bank?
0
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0answers
49 views

I'm on vacation in Europe. Can I transfer between my 2 US bank accounts?

I'm in Europe for 5 months. I have an ATM card linked to 2 accounts at my local US bank (first account is in Euro and the second in USD). Can I use my ATM card in Europe and transfer bfrom my Euro ...
0
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1answer
282 views

I met a woman online [duplicate]

I talked to her on hangouts and also via texting. She asked me if I had a bank account and informed her that I don't. She then says that her uncle is in Mexico would send a check made out in my name ...
0
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4answers
298 views

Why do banks loan at APR ≤ 3%, rather than investing that principal in ETFs?

I don't think this duplicates Why do banks give small APR loans, because I'm asking HK, and APR = 3% here not $4%. I screenshot picture beneath from HSBC HK. Scroll down a quarter of the way, and ...
0
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1answer
148 views

A bank's unprofessional treatment of POA

My aunt assigned me as her Financial Power of Attorney. I mailed the POA document to her bank, and after that, bank employees were treating me like I was her POA, for example, giving me the balance on ...
2
votes
1answer
168 views

Company cash going through my personal bank account

I work for a franchise, our clinic is located in one state and our administrative offices in another. I am required to do the accounting for our office. I have a credit card machine which processes ...
1
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1answer
49 views

Choosing a Trust Bank/Investment Account

Not that it matters for this question, but for people following my life story :), this is a follow up to this question: Options for Protecting Inheritance Before Death? So we have created an income-...
0
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1answer
106 views

Given wrong POS machine receipt, should I be worried?

I was shopping today and paid with a local bank debit card (not Visa, MasterCard or some international card, just an ATM card issued by a local bank). Normally there would be 3 identical receipts and ...
2
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0answers
43 views

Do banks need a foreign branch to access a derivatives market (e.g.) London

I would be very interested to know whether banks (e.g. Santander, Deutsche Bank, etc.) need a foreign branch in a country (e.g. UK - London) to access the derivatives market in this country. Would ...
3
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1answer
183 views

How do some banks have such short account numbers?

Mitsui Sumitomo and Lloyds Bank (among others, I presume) use 7 digit bank account numbers. It seems that if they have more that 9,999,999 customers, they wouldn't be able to route transactions to the ...
2
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4answers
1k views

who is the owner of Loan money paid back to bank [closed]

There is bank which have account of three persons :-- A = 900 dollar in account B = 900 dollar in account C = ZERO dollar Now if C went to same bank & take 900 dollar Loan from bank on ZERO ...
0
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3answers
529 views

Sugar daddy allowance with bitcoin [duplicate]

I met guys online as sugar daddies without sugar.I have never given my bank password but some guys request me buy google play card and I answered I wouldn’t use my cash for it.The guy said “ I would ...
24
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6answers
6k views

What are the advantages to banks being located in the City of London (the Square Mile)?

This question is about the City of London, i.e., the Square Mile, not greater London. There are an awful lot of international banks located in the City of London. What advantages are there to having ...
2
votes
2answers
181 views

Why would I open a low-rate 9 month CD instead of a higher rate savings account?

One specific (popular online) bank is offering a 9 month 1.25% CD, while it's savings account is 1.90%. There's no way I see interest rates tumbling in the next nine months, so why should I -- why ...
38
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3answers
11k views

How to prove that invoices are really unpaid?

When it comes to official business documentation (USA) between a company and a client who is either another company (B2B) or individual person (B2C), how can the company providing the invoices, prove ...
-1
votes
2answers
339 views

How to bank on my own?(self hosted bank account) [closed]

I'm from Poland and I do not want to have a bank account but I want be able to use a card and do all of that nice online stuff. It would allow me to do automated stuff and maybe other cool other ...
-5
votes
3answers
226 views

How do I transfer funds from MY OWN card to MY OWN personal bank account?

Would anyone please be so kind to explain me how (where) could I transfer funds from my own debit and/or credit (particularly debit) card issued by X bank (USA) to my own personal checking bank ...
1
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1answer
48 views

HUF Account India

We have a HUF (Hindu Undivided Family) account in a Govt Bank. My father is "Karta" of this account and me being his son is also a member. So, can I ask my employer (from part time job) to ...
1
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1answer
90 views

Declining Binding Arbitration on credit card accounts

Recently Chase was making a change to its user agreement and was automatically assuming your consent to abide by binding arbitration unless you opted out explicitly by sending them a snail mail with a ...
2
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2answers
93 views

How do app-initiated bank transfers work?

Normally, if I want to initiate transfer of funds from a bank I have to at least login to their secure banking website to initiate it. Sometimes it has to be by phone or in-person for smaller banks. ...
0
votes
1answer
96 views

How do I divide my total money into small sums for different purposes? [closed]

I was wondering if any bank/app has a user interface where I can virtually divide my total money into sub-accounts. For example, if I have 10000 USD, then 2000 USD for travel, 500 USD medical, and the ...
0
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0answers
24 views

What happens to net assets in case of increasing NPAs(Non-Performing assets)?

The bank's profit is measured as Return on Assets which is the ratio of Bank’s net profits and Net assets. In case of increasing NPAs, the bank's net profits will decrease, but what will happen to net ...
0
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1answer
77 views

Is it safe to use Capital One Bank? [closed]

After the recent Capital One hack, is it safe to keep a savings account with Capital One ?
0
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0answers
80 views

How do I identify product code from a bank account number

I am trying to classify savings account and current account from a bank account number. Need to understand the pattern for Kotak Mahindra Bank
2
votes
1answer
144 views

Can my spouse/friend purchase a cashier's check for me?

I roughly understand that cashieir's checks lifts the money from your account at the time of issue and can be cashed by the named recipient. Can I use a Cashier's check issued to my spouse/friend ? (...
3
votes
2answers
230 views

Received an unexpected windfall and have no skills or knowledge of finance (UK)

Good Evening, I work and live independently with a lifestyle that isn't lavish but is perfectly comfortable for my needs. Recently, I was the beneficiary of a sum that is about 10 times the amount of ...
1
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4answers
268 views

Is it still hawala if the money is transferred via bank at the destination?

My family needs to send me approximately $3000-5000 for my expenses here in Michigan and they found a relative coming to US in coming days. They would give him cash in my country and he would carry it ...
0
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1answer
283 views

Should I enter spaces when entering the IBAN for online transactions? [closed]

The IBAN number of the account I want to transfer money to is NL99 INGB 9999 1234 99. When entering these details in the my online banking portal, do I have to insert spaces as shown or type the 18 ...
0
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0answers
203 views

An honest mistake [duplicate]

I had a check that I had found while I was sorting through papers, and I figured it hadn’t been cashed because it was pretty much intact and still attached to the pay stub. So I deposited it, thinking ...
2
votes
1answer
167 views

What is Money multiplier deposit or MMD?

What is money multiplier deposit or MMD? How it works in Indian bank?
1
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4answers
243 views

Is it possible/easy to get some rare banknotes and/or coins that worth more than the face value?

Today I got a few Eisenhower dollars from my bank and it seems they worth slightly more than one dollar each as they are rarer. In general, is possible/easy to get some rare notes and/or coins that ...
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votes
4answers
286 views

How much would a trading robot which doubles money in a period of time sell for? [closed]

How would factors of this calculation change for the rate of doubling, scalability (the maximum amount at which it begins to become less efficient), risk and other factors you might bring up a ...
0
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1answer
165 views

Can you sue for half of the equity and mortgage payments? [closed]

EDIT: Name is both mortgage and deeds. Im trying to remove a name from a mortgage, the other party is requesting a payout of a large sum of money. They never paid a penny to the mortgage, upkeep. ...
0
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4answers
204 views

Should I open a new checking account at another bank?

I don't know too much about banks and banking. But to start off, I have a Chase checking account my parents opened for me since 7-8 years ago. Now that I'm working, I'm helping my parents buy a house....
0
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4answers
88 views

What is a “rates division”?

Deutsche Bank is shuttering its equities sales and trading business, while trimming its "rates division". It will also create a "bad bank" for €74 billion ($83 billion) in assets that eat up too much ...
4
votes
1answer
622 views

How to deal with account scam and fraud?

I gave someone my account information for my bank account because they said they could help me financially. They put $820 in my account and said I could keep some if I sent it to this guy. I never ...
2
votes
2answers
179 views

if I/some credit card keep applying how low the score can get

This seems a hypothetical question. Suppose a person has a already low credit score( I suppose it can not be less than 300) . Question1: And if that person apply for 2 different credit cards at ...
7
votes
3answers
1k views

How do banks maintain reserves?

I'm just starting to learn about the fractional reserve banking system. Suppose a bank has deposits of $100 and the reserve requirement is 10%. The bank gives the remaining $90 as loans. Now suppose ...
3
votes
1answer
715 views

I received a seemingly legitimate welcome email for a bank account I did not open. What do I do?

I received an email which was apparently from Sun Trust Bank. It was welcoming me to their online services. I have not signed up for such services. I looked at the following data and it appears ...
3
votes
0answers
163 views

Cashier checks purchased in the 80's at a bank that is now closed - the State Treasury Dept can't find them

My dad who is deceased purchased cashier checks in the 80's and the bank has since closed. I reached out to the States unclaimed property; they found several checks but there are a few left that they ...
0
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0answers
35 views

What is the ACH Number for the TD Cross Border Account?

I have a TD Cross Border Account and an employer in the USA that pays in USD's. What is the ACH number for the TD Cross Border Account?
0
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0answers
45 views

Is there a specific term for a collateral with a value less than what has been declared?

In other words, a collateral value has been estimated more than its real value. Is there a term for this type of collateral? Is the term "over-declared collateral" correct in this sense?
0
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0answers
107 views

A check with the spelled out amount left out [duplicate]

I received a check with the amount filled in as a number say $2000 but the spelled out portion (which should have been "Two thousand and 00/100") left blank. This was an oversight by the sender (out ...
1
vote
1answer
534 views

How does ACH Deposit work (USA) - account holder name mismatch?

I would have a question related to ACH deposit where payment processor behind the website (i think it is Stripe processor) request, in Banking part of webpage section, only account number and routing ...
1
vote
2answers
276 views

How can Stripe charge my bank account in case of negative balance?

I was thinking of opening Stripe account and then saw this. This page says that if I have negative balance due to a charge back, Stripe can contact my bank and request funds from my bank account ...
0
votes
2answers
220 views

Maintain Salary Account even after quitting job

This is very silly question I know , but there is a big debate happening between my colleagues. Say A is having Salary account with Bank AAA who is working in company ABC. Now A resign the jobs and ...
1
vote
1answer
173 views

Taking a loan with a low interest and putting it into a Savings deposit with High interest [duplicate]

Can I make money from taking out a loan from a country with a low interest rate (such as Switzerland, that has an interest rate for loans from 4.9%) and put it into a fixed savings deposit account in ...
-1
votes
1answer
238 views

Routing Number and Account Number

Why is my routing number showing up as a different bank then the one I bank with? When I enter my account and routing numbers, the bank shows up as Bank Y instead of my normal Bank X.
34
votes
20answers
13k views

How to safely destroy (a large quantity of) valid checks?

A while ago I had my bank issue me new checks due to a change of name (I got married). However I still have many hundreds of checks with the out of date info (they're an online bank and issue about ...