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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-4
votes
1answer
88 views

Can a company withdraw 100M EUR in physical cash from a bank? [on hold]

Let's say a company decides to store its own cash in a secure vault outside of the banking system. Is it possible? Can it withdraw a large volume of banknotes from a bank? EDIT: The EUR banknotes ...
2
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2answers
85 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
91 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
21 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
74 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
68 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
-1
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0answers
15 views

Can the New Development Bank by BRICS countries compete with World Bank or IMF? [migrated]

The BRICS countries have created the New Development Bank with an initial pool of $100 billion. What factors will determine if the NDB can ever compete with World Bank, ADB or the IMF?
2
votes
1answer
118 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
211 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
vote
4answers
251 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
votes
1answer
119 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
193 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 ...
1
vote
1answer
84 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
232 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 ...
-9
votes
4answers
246 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
votes
1answer
155 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
votes
4answers
189 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
votes
4answers
77 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
590 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
172 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 ...
8
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
564 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 ...
4
votes
0answers
160 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
31 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
103 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
212 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
174 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
194 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
206 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 ...
0
votes
1answer
177 views

My money transfer went to the wrong bank, what can I do to reverse it?

I have 2 different bank accounts with a bank and a credit union. A payment through seller was posted into the wrong account. What can I do to reverse the transaction?
70
votes
13answers
21k views

Mother abusing my finances

I'm in a bit of a predicament so I want to give some background. I'm a 17-year-old who has a bank account with my mother as an account holder given that as a minor I cannot legally enter into an ...
24
votes
5answers
5k views

Using credit/debit card details vs swiping a card in a payment (credit card) terminal

I was given by a seller an option to come to their office and swipe my credit/debit card there in their payment terminal. Because it's a long way to get to their office, I asked the seller if he ...
-3
votes
1answer
493 views

Is this a scam or not a scam?

I received the below email. Is is a scam or not a scam? Attention: Mohamed Atef, May the peace of the Lord be with you. Yes He left an ATM/VISA CARD with me before he traveled out of the ...
2
votes
2answers
81 views

Am I allowed to accept payment to my US bank account, after leaving the US? (I was on F1 visa, I have no SSN)

Am I allowed to accept payment to my US bank account, after leaving the US? (I was on F1 visa, I have no SSN, I never worked in the US) I don't even know if I'm allowed to have a bank account after ...
0
votes
2answers
132 views

How can I deposit money from my account to a friend's account in another state? [closed]

Can I deposit money from my account to a friend's account who lives in another state?
2
votes
1answer
117 views

Are there any particular ways to use a secured credit card best? [duplicate]

I am using a secured credit card to build back my credit. Is there a particularly good way to do this? I know that a secured credit card will allow me to increase my credit score. But I'm not sure ...
-1
votes
1answer
81 views

Is KYC information placed in a global database like bank accounts?

When I open a bank account or credit card, it is instantly accessible nationwide just like a credit report. What about opening an exchange account and filling out KYC information in the U.S. or ...
1
vote
1answer
512 views

received a check with me as a c/o, can I deposit it into my account?

I rented an apartment and unfortunately without any notice rental management changed and I received a check with the new rental management company and me as a c/o for the amount of my security deposit....
4
votes
0answers
134 views

Why would a bank suddenly start using a very old address for me?

I stumbled upon an infographic that reminded me of something strange that happened to me several years ago, possibly related to banking, law, and credit reporting. Apologies if this is not the right ...
32
votes
4answers
9k views

Transfer over $10k

I recently realized that most of my money is going into my checking account where it's just sitting there losing value due to inflation, etc. I want to open a savings account at a different bank (...
0
votes
2answers
113 views

Are online purchases reported to IRS or FinCen

I am an international student in US. if I buy products online using my debit card and my online purchases and wire transfer in (my family transfers me tuition from back home directly in my account and ...
26
votes
3answers
7k views

My bank got bought out, am I now going to have to start filing tax returns in a different state?

My bank just got bought by a bank in another state. Does this mean my interest earnings are going to get reported in that other state and potentially require me to file tax returns in the other state? ...
3
votes
0answers
102 views

Sum of quarterly reports is not equal to annual reports

I am trying to calculate a stock's worth and in doing so I am adding values of all the four quarters from quarterly reports but it is not equal to the value in the annual report. I am trying to ...
0
votes
1answer
99 views

Having issues transferring high dollar amount from thailand to us [closed]

Thailand Bank is telling us we need to get anti money laundering paperwork for 5% of what is in our account or we can boycott and pay the bank 2% of what is
1
vote
0answers
162 views

How can I convince my bank to accept deposits without my signature?

My credit union doesn't accept any check deposits without signature endorsement from the recipient. I have a joint savings account with my spouse. They do not accept checks made out to both me and my ...
53
votes
5answers
28k views

Withdrew £2800, but only £2000 shows as withdrawn on online banking; what are my obligations?

I just withdrew £2800 from the bank. Looking at my online banking, there is only a withdrawal of £2000 listed. The form I signed said the amount I asked for, and the teller weighed the cash out on the ...
0
votes
1answer
56 views

Multiple day ACH transfer - is there a day when neither bank is paying interest?

If I transfer money from my account at bank A to my account at bank B, using a free multi-day ACH transfer, is it common that I would not be paid daily interest for the balance while the transfer ...