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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.

2
votes
1answer
67 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
171 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
40 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
138 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
91 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
1answer
127 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 ...
0
votes
0answers
61 views

Bank Issuing Check rather then sending money back to square

I sent money to a friend bank account at United State from Hungary. The United States bank thinks it's a fraudulent transaction. Initially my friend said that the money will be returned back to square ...
-2
votes
2answers
106 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 ...
0
votes
0answers
81 views

How to get a bank account in the USA as a South African resident? [duplicate]

How to get a bank account in United States Of America if you are a foreigner?, I am a South African resident willing to get a bank account in Usa.
1
vote
1answer
130 views

Right Iban but Wrong Swift Code

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
64 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 ...
0
votes
1answer
69 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
120 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 ...
0
votes
0answers
58 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 ...
1
vote
1answer
78 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
197 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
31 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
72 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
43 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
118 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 ...
0
votes
0answers
31 views

Is it fine to transfer funds between 2 paypal accounts that you own but are individually linked to different cards that you also own?

I have 2 different bank accounts, one from Wells Fargo and another in Bank of America which was opened by Payoneer because I signed up on Payoneer a long time ago. I also have 1 paypal account (...
6
votes
2answers
3k views

If Checking Account's and Saving Account's interest rates are the same, what is the point of having a Savings Account? [duplicate]

In this question I am using Wells Fargo as an example. https://www.wellsfargo.com/savings-cds/consumer-account-rates/ You will see that the interest rate for a checking account is the same as for a ...
1
vote
1answer
104 views

Avoiding Chase monthly checking account fee

With my checking account I have maintained a daily balance greater than 1500 dollars to avoid the 12 dollar monthly fee. As I earned more income I started moving it to a savings. Now I have ...
1
vote
2answers
174 views

Why don't bank accounts have an asymmetric deposit number? [duplicate]

Why doesn't every bank account come with a "deposit only" number? I.e. why do I have to give my account number (and thereby give the ability to withdraw money from my account) to someone whenever I ...
1
vote
2answers
221 views

Joint Bank Account

I have a joint bank account with my sister that requires both signatures to withdraw money. She recently opened a personal account at the same bank. She transferred all the money into her personal ...
0
votes
1answer
49 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 ...
0
votes
1answer
46 views

How to receive funds from outside India in Personal Indian Bank Account number?

I have an account in HDFC bank at Gurugaon district of Haryana. Now I have to receive the money from some foreign party , Can I accept the payment in above account? Will there be any TDS deduction ? ...
40
votes
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 ...
0
votes
1answer
47 views

How to send check from US Bank to US location when I am abroad without checks

I am in Europe and I am being asked to send a check via mail to a location in the US. I do have a PNC Bank Account I do not have any checks with me Is there a way that I could achieve this quickly?
1
vote
3answers
459 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 ...
1
vote
2answers
135 views

What happens if there is a typo in a wire transfer?

Does the banking system check the recipient's name and/or address when doing (domestic) wire transfers? What happens if there is, say, a typo in the bank account number? Is the money essentially ...
1
vote
1answer
115 views

Giving out bank information

I asked a guy i know for one hundred dollars. He said send me your bank information so he could send it to me. Should i give it to him or use something else like paypal?
2
votes
1answer
143 views

When one bank's CD yields are one hundred times the market

I just learned about the "certificate of deposit" or CD. Looking at a comparison between the annual yields on these CDs across different banks, I was shocked to see that the yields on the CDs issued ...
0
votes
2answers
56 views

Will it be faster if I give someone in another country a Cashiers check (as opposed to a personal check) in USD to deposit it in their account?

I have a US bank account and the other person in a south Asian country does not. What are the fees involved?
20
votes
5answers
4k views

Does a direct deposit arrangement also enable direct withdrawals?

Suppose, for example, an employer in the United States deposits employees' paychecks directly into their bank accounts. If they determine (whether correctly or incorrectly) that a former employee was ...
2
votes
2answers
189 views

Should we keep our savings in several different accounts?

I read a story about a bank's closure and its assets being seized, depositors losing their money. I want to ask if one should be keeping his money divided into several different banks instead of one ...
0
votes
2answers
124 views

Can my company deposit cash received from customers into their business account [closed]

My company receives cash from many of our customers for payment of an invoice. Can we deposit this cash in our business checking account?
0
votes
1answer
146 views

How are multi-billion transactions executed? [closed]

So when we think of multi-billion dollar cash transactions such as cash-based M&A deals, large real-estate projects ,etc. how are these transactions executed? Is it similar to me using my ...
4
votes
1answer
111 views

What is the difference between net profit and net banking income

For Societe Generale Analysts had expected net profit of €811.5m on net banking income of €6.47bn. Why are they so different?
1
vote
1answer
80 views

Loan calculation with percentage [closed]

I want to know monthly payment with percentage. Let's say I took loan of $200 and I have to pay monthly for 5 months and amount pay back is $260. Over here $60 is interest. I could make out that I ...
0
votes
1answer
182 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 ...
1
vote
0answers
168 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 ...
1
vote
0answers
63 views

As a US Citizen can I open a Canadian bank account without my social security number?

As I stated in the title: will I need to provide my Social Security Number if I choose to open a bank in Canada as a US Citizen?
2
votes
0answers
190 views

How can we tell if Blockchain and Cryptocurrencies are Bubbles? And If they are, what can we do about it? [closed]

Lately I have been influenced by some sour sentiments regarding Blockchain and cryptocurrencies from individuals who believe that cryptocurrencies and their whole infrastructure is currently in a ...
5
votes
6answers
682 views

Why do people still write checks as payments in stores?

Why do we still see (edit: in the US) some people (especially the elderly) still pay with checks in stores, even when the amount isn't too large for a debit card? Here are the disadvantages I can ...
81
votes
7answers
34k views

Is this $200 “welcome money” (from a major bank) some sort of scam?

I googled around (this in the US) about "bank accounts you can open online", I noticed: https://www.us.hsbc.com/checking-accounts/campaigns/offer-2018/#advance-checking-details Notice they will (...
5
votes
1answer
164 views

Power of Attorney on Bank Account - Anything to Watch out For?

In planning for their later years in life, my parents want to have me become power of attorney, and to have control of their banking accounts, etc. They are still of sound mind, etc, and I wouldn't ...
1
vote
2answers
350 views

What should I expect when receiving a very large sum in a domestic wire transfer into my bank account?

I am anticipating receiving a very large sum of money in a domestic wire transfer between banks into my personal bank account from a domestic company's business account. What should I expect once the ...
0
votes
0answers
34 views

Relationship between Investment Banks and PE/Hedge Funds under their umbrella?

So there are private equities like Goldman Sachs Capital Partners or hedge funds like JP Morgan Alt. investment that are under large investment banks. What are the relationships between these ...