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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1answer
92 views

Is it bad to leave a checking account empty for up to a month?

My son is in college out of state and we have set up a bank that I transfer money to, but there is no physical location for him to get cash or in-network atm. I just got him a grocery debit card to ...
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0answers
121 views

Bank closed my account because of fraudulent activity [duplicate]

I’m a college student who needed some extra cash so I went and looked for a sugar daddy. We talked and he asked for my bank account info and I gave it to him. A week later he said he was going to ...
3
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2answers
123 views

Does returning small bank verification deposits count towards the limit of 6 monthly “convenient” withdrawals on a savings account?

Does returning small bank verification deposits count towards the limit of 6 monthly "convenient" withdrawals on a savings account? Example:
3
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1answer
187 views

Bank transfer to fake or fraudulent recipient

I have made a bank transfer from my UK account to another UK account but then I have realised that the recipient's name was fake and I got scammed. I requested my bank and the recipient's bank the ...
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1answer
113 views

Why does my routing number (IBAN) come up as invalid

I am trying to wire funds and my routing number to Citibank, which is 122401710 in Las Vegas Nevada, is coming up invalid IBAN when I go to wire funds. When I called Citibank they told me that I ...
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2answers
278 views

If someone deposits money into your account for you to keep can they cause you more money problems off of that or steal more than money from it?

I met this girl online. We hit it off quick, and we want to meet later. Her story is a little weird, but some of it could be true. Anyway she wanted me to get an account so her dad could send her ...
3
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3answers
354 views

Bank asking for spouse's financial details: what to tell them?

Our bank sent an email to my spouse saying that they are required by law to collect some details, and that they may terminate her account if this info is not provided. My wife is a homemaker, and ...
3
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2answers
135 views

Purchase/money/allowance management for teenagers

I have two kids older than 13 but younger than 18. One is 16+. As they start making their own purchasing decisions, I'm trying to set things up to be convenient for everyone. My current problems are: ...
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2answers
149 views

Privacy related to bank account

If a person wins a massive lottery prize, in the order of 200 million € or £ or $, and this prize is versed to the person's bank account, how can they avoid that their bank balance is gossipped upon ...
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1answer
112 views

How does the US FDIC apportion its premiums?

I'm not from the US, and the banking system there is vastly different to how most other countries operate. So, I'm a little confused about how the FDIC apportions its premiums (the deposit insurance ...
3
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2answers
346 views

Are banks in Europe allowed to charge you for too low a balance?

Ever since I've heard stories of people in the U.S. who (almost) emptied their accounts, I've feared of one day doing that too. I always make sure to have at least 100 EUR in each of my accounts. It ...
0
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1answer
466 views

first time sugar baby trying this our to get help with school [duplicate]

This is the first time i've used a sugar daddy site and have little idea what i'm doing. I was smart enough to set up a paypal account so he wouldn't have any of my personal information, he set an ...
2
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1answer
52 views

Receiving payments in foreign currency, who sets exchange rate and fees

How do bank accounts receive payments in a foreign currency? Is the 'fee' charged by the account from which the money is being sent, or at the account where the deposit is being received? Which ...
7
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3answers
610 views

How to calculate savings account interest if you deposit and withdraw irregularly?

It's easy to calculate interest on a fixed principal. If you have for example $1000 deposit on your savings account and the rate is 0.25% compounded every whatsoever and you want to know how much is ...
2
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2answers
104 views

How to easily identify the source of bank transactions

Bank statements don't provide much information about the source of each transaction. Sometimes the description is clear, like for example "UBER" for a trip with Uber. Other times it's hard to ...
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1answer
69 views

Which US banks offer deposit-only, free ATM cards? [closed]

I am a landlord and some of my tenants are "unbanked" i.e. they do not have bank accounts. My bank used to offer deposit-only ATM cards but not anymore. Does anyone know of any banks that offer these ...
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1answer
74 views

will an international wire transfer to France still work with the wrong bank address

a few days ago I sent a wire transfer from Canada to France, all of the info (wire recipients financial institution name, bank code, account#/IBAN, wire recipients name, beneficiary name) is correct ...
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1answer
90 views

Is the assertion 'loans create deposits' true in banking? [duplicate]

I have read that banks don't really need deposits to make loans but rather it is the other way round. I thought that banks could only lend out money that customers deposited. If this is the wrong ...
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0answers
56 views

Amount of money taken into account when applying for an overdraft?

Will a bank in England, Halifax to be specific, look at the amount of money I have in my current account if I apply for an overdraft. I don't think in normal circumstances I would get approved, and ...
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3answers
320 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 ...
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1answer
107 views

Money is credited from unknown source

If money is credited from unknown source is it legally binding to inform the bank?
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0answers
50 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 ...
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1answer
321 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 ...
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4answers
305 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 ...
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1answer
151 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
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1answer
169 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 ...
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1answer
72 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-...
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1answer
111 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
185 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 ...
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3answers
983 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 ...
3
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2answers
196 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 ...
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2answers
347 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 ...
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4answers
344 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
58 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
91 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
97 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
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1answer
97 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
25 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
78 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 ?
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0answers
93 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
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1answer
210 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
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2answers
237 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 ...
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4answers
281 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
445 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
205 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
215 views

What is Money multiplier deposit or MMD?

What is money multiplier deposit or MMD? How it works in Indian bank?