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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.

1
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0answers
67 views

Buying business product for a business associate that's abroad

I was wondering if there's any legalities regarding the purchasing of product for a business associate that is abroad? I would buy the product and he would reimburse me the money. The products are ...
2
votes
2answers
106 views

Is it more difficult to reverse a fraudulent check if it is cashed at a check-cashing service rather than deposited at a bank?

Say that someone gets ahold of my checking information and writes a fraudulent check from my account. Then they cash it at a check cashing store. I notice a week or so later, call my bank, and report ...
-1
votes
0answers
60 views

Can I use a Canadian Social Insurance number instead of a social security number to apply for a bank account in the US?

I am Canadian and have an account in the us. I don't have a ssn#. My bank seems to think I can use my last four digits of my social insurance number with the square reader. I would like to know before ...
-1
votes
0answers
65 views

My deposit isn’t correct [closed]

I was to receive a $225 deposit in my Arvest checking account yesterday and this morning it is showing a .01 charge and a .01 credit/deposit. Will my $225 deposit still post correctly today?
0
votes
0answers
14 views

Which method CHATS, ECG, or TT should I use to transfer funds to account in Hong Kong Bank?

I've personal bank accounts with Shanghai Commercial Bank in Hong Kong (henceforth "SCB") and HSBC Hong Kong ("HSBCHK"). SCB accepts the FPS Identifier only to receive funds, and not to send funds to ...
0
votes
1answer
199 views

Storing Money Without a Bank [closed]

One way to store money without a bank account, could simply be keeping it in banknotes, however that's not very safe. So is there another way to store digital money that is not a bank account? ...
0
votes
2answers
171 views

How are micro-finance banks able to offer interest rates so much higher than traditional banks?

Recently while browsing on google I came to know that there are few small-finance banks which offer great returns with the high amount of interest rate up to 7% and fixed deposits up to 9-9.5%. like ...
5
votes
1answer
178 views

What are the financial implications of merging my wife's bank and investment accounts with mine?

Background I've been married to my wife for eight years. For that entire time, we've had separate bank and investment accounts, mostly due to inertia. I make most of the money, and so I manage all ...
4
votes
1answer
117 views

Why does my bank not charge a fee for small amounts?

I work abroad in a SEPA country and send money to my non-SEPA home country regularly. In the foreign country I have a euro bank account and in the home country - a non-euro bank account. My foreign ...
-3
votes
1answer
153 views

How Do I Get Citibank To Give Me My Money?

I was banking with Citibank online back in August. I was a good customer. I never went in the negative and I was very nice to all employees. I have my own business and I receive at least 7 to 10 ...
5
votes
1answer
100 views

Who Is responsible when a currency transaction is mistakenly converted by an intermediary bank?

My client transferred USD from the US to my USD currency account in Ireland. Their intermediary bank converted the funds to Euros so it hit my USD account in Euro, was converted back to USD by my bank ...
5
votes
3answers
2k views

I still have my German bank account, but I'm not residing within the EU anymore. Can I use it to receive EU income?

I lived in Germany for 2 years (up until earlier this year) and used my Comdirect bank account to receive my salary while I was working there. Fast-forward and I leave my job and return to my home ...
-5
votes
3answers
394 views

Is she trying to scam me or is it real love

I met this girl online. She wants me to sign up to an online bank called find Finn. She is going to put three or five thousand dollars in it to buy a plane ticket to come to see me and to get our ...
19
votes
4answers
5k views

If I have given my bank details to someone by email what should I do now? [duplicate]

I have given someone my bank account details including my home address and phone number by email, supposedly so that money can be transferred into my account. I am now quite sure this is a scam. ...
0
votes
3answers
236 views

Receive a large wired transaction

Hypothetically, I am receiving a large amount (over 100 grand) from a company through a wired transaction. As the receiver, would I be questioned about the source of funds? Or just the company would ...
0
votes
0answers
31 views

Is the amount of a pull (from the receiving institution) limited?

User 'DanLynch' defines 'push' and 'pull': If you do a "push", the money will be removed from the sending account immediately, and will usually arrive in the receiving account in 1 to 3 business ...
0
votes
1answer
66 views

Why does DICO insure until $250K, but CDIC until $100K?

This question doesn't duplicate this other that doesn't compare CDIC with DICO. As of Dec 6 2018: DICO [Deposit Insurance Corporation of Ontario] insures deposits up to $250,000. We CDIC ...
2
votes
0answers
44 views

Is a bank account or branch manager able to give higher interest rates on CDs to preferred clients? [duplicate]

Can an account manager or branch manager of your bank give you higher interest rates on savings or CDs (Certificates of Deposit) if you are a preferred client? For instance, if a long time client who ...
2
votes
2answers
100 views

Why are banks sharing connection/synchronisation mechanisms?

I noticed that my banks (at least in France) start to offer the ability to consolidate accounts from other banks (in order to have a unified view of all belongings). This is not done though a public, ...
-4
votes
5answers
332 views

How can a bank go bust when people don't pay their loans? (since loans are created out of nothing) [closed]

When a bank issues a loan to me, the money is created out of nothing on a computer. It's just a record in a database. It doesn't exist. The bank issuing the loan needs to have reserves at the central ...
3
votes
2answers
188 views

Does my name on my checks have to match my drivers license.

My middle name is Ann. I want my checks to say P.A.Myers The bank says they should say “Patricia Piper Myers”. Piper is my maiden name.
0
votes
1answer
206 views

Transferring money for someone [duplicate]

I met someone and we have been chatting via phone for awhile. He asked me to access his bank account and transfer money to someone else because he is in Thailand on business and he can't access his ...
1
vote
1answer
424 views

Is it illegal to going to someone's bank account and do a transfer? [duplicate]

A person I've been talking to for a while asked me to go into his bank account and make a transfer to a US beneficiary account. It's a continental account. It showed the date that the account was ...
2
votes
1answer
46 views

How to transfer money to a bank account overseas from a bank account tied to my phone?

Suppose I move to another country and open a bank account there, how will I be able to transfer money from my account in another country to this new overseas account when my old account is tied to my ...
0
votes
0answers
55 views

Any experience with neat.hk and that new category?

I'm not really sure what the "category name" is of the new banking (/whatever ..quasi banking) "fast access" providers who have popped up in Asia Problem ... for a year or more now no banks are ...
45
votes
7answers
35k views

A man on a work project in West Africa asks me for 2000 - is this a scam?

A man that I met on Facebook was called to do a job in West Africa. He got there and found out that there is a problem with his Swiss bank account. He needs 2000 to finish the job so he can come home....
1
vote
1answer
16 views

What does “Re-registration pending” status means in bank for ECS?

Recently i have provided my BOB account details for LIC ECS. After banking process i got one message from bank site like : policy no xxxxxxx with amt xxx.xx registered for ECS. debit date ...
26
votes
5answers
10k views

Why do credit card issuers offer a grace period?

I am wondering why most credit card issuers offer a grace period after the statement date, provided they're not obliged to? Is it required by law (I'm 99.99% sure it's not but just in case)? Does ...
1
vote
1answer
104 views

How do I find out if an old bank account still exists and if I still have funds available in that account? [duplicate]

I have an old savings account from old Shawnee Bank in Shawnee Kansas. It shows a balance in it from 1970. How do I find out if it still exists?
34
votes
3answers
11k views

Should I pay myself back for paying family's rent out of our pool of money?

A few months ago, I paid the $1,500 rent on the house where my family and I lived. My siblings and I are in college and we work part time jobs to get by. My father could not afford to pay the rent ...
2
votes
1answer
109 views

The amount received being less than the amount required

I live in Europe and I ordered a product from a Moroccan company. They asked from me to transfer the money to the company bank account in Morocco, which I did. Shortly thereafter, a company agent ...
3
votes
2answers
249 views

Does FDIC insurance at one bank cover each account?

I was reading that FDIC insurance covers accounts up to $250,000. Does this mean each account you have at a bank is insured up to $250,000 or is $250,000 the maximum for all accounts at a bank? Also,...
2
votes
1answer
91 views

Do I need both the account number and also the sort code to make a deposit into friend account or can I just use the account number?

Is it possible to make a payment into someone's account using only their account number and name or do I need to give a sort code as well??
3
votes
2answers
228 views

Is Paypal registered as a real bank? Is it FDIC insured?

It works kindof like a bank, in that you can send, receive, and store money in it as a secure account for as long as you'd like. So is it FDIC insured? And is it registered as a bank, or merely a ...
1
vote
2answers
42 views

Information about fee via 3ds secure protocol [closed]

I've made a transaction between my 2 cards issued by different Financial institutions (Banks). I've confirmed the transaction amount in 3DS window. But the total amount was decreased on a fee volume. ...
1
vote
1answer
171 views

Check that has void

Working for walmart I was payed on the 4th and on the 6th the company took the money out of my account and wrote me a paper check. A few days later I try to mobile upload to netspend, the first step ...
0
votes
1answer
99 views

Opening a bank account in the UK for a non-resident friend

I live in the UK. I have a non resident friend who wants to invest his money and set up a business here. He asked me to do an enquiry about opening a private bank account. This will be his first step ...
1
vote
2answers
305 views

What are some good options to save money? I have the only income, as a father of 1 and husband, France-Canada

I'm already past 30 years old and so is my spouse. We have a two years old child and plan to have another one in a near future. I'm currently doing a PhD and I have about 1500 euros per month as ...
-2
votes
2answers
132 views

is it possible make initial deposit for opening a new bank account from a friend's bank account in USA? [closed]

I have my friend's account number and routing number. When I'm opening a new checking account can I use his bank account to make initial deposit into my new account? I know there is verification that ...
1
vote
1answer
410 views

Right Iban but Wrong Swift Code [duplicate]

I have sent some money (in euro) to Netherlands (ING Bank) from Turkey. The IBAN is correct but the swift code is INGBNL2AXXXX instead of INGBNL2AXXX. The recipient did not get the money and the money ...
1
vote
1answer
207 views

Reactivate a dormant account with Bank of America as a nonresident

I am a French Citizen, I opened an account with Bank of America in 2009 that I used every year during my vacations, but I have not been to the US for 5 years so the account seems to be dormant. I ...
-1
votes
1answer
710 views

Is there an IBAN for US banks?

Do US banks have an IBAN number? Im trying to wire money through my Bank’s website and they’re asking for the IBAN is there one for us banks? And if not what do I do?
1
vote
1answer
125 views

How can I find out how to trace where Mobile Deposits to my checking account came from?

There have been several checks deposited into my checking account over the course of the year. The checks are not payable to me and the checking account is in my name. The back of the checks are not ...
1
vote
1answer
82 views

Is it legal if I transfer money to my retired pensioner father who will create FD (fixed deposit) out of it?

Details: I am based out of India. I have already paid TDS on my salary and have also filed by tax-return for the same. Now, I will transfer some part of this money to my dad's account. I will also ...
0
votes
3answers
208 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 ...
1
vote
2answers
39 views

International Wire Transfer Currency Conversion

If I wire money internationally say from my Israeli account to a US account does the money currency change from ILS to USD after the money have been sent? Or does it stay in the same currency unless I ...
2
votes
1answer
80 views

Comparing bank to bond ETF

Let's say I have a bank savings account giving this interest: Rate: 1.736% APY: 1.75% (rate accounting for compounding interest) And there's a bond ETF SCHZ with these rates: TTM: Distribution ...
1
vote
2answers
49 views

International to U.S. wire transfer

Is there a limit by government regulations on large amount transfer from international account to U.S. account. Same person on both accounts. Or is limit set by bank?
2
votes
1answer
124 views

What kind of customer tier should I be aiming at? [closed]

I have about 2M EUR of savings, in all kind of supports (the choice of the supports was random or historic - not driven by any reasonable financial analysis). Since I have no interest in managing ...
29
votes
6answers
6k views

Bank rotation to exploit promotional deposit rates for new funds

Banks in my country often offer deposits with promotional rates for new funds - calculated as funds exceeding amount accumulated on selected date. Now there are several banks practicing such ...