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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.

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What are the alternatives to “real” banks

I have bank accounts in the US, but I live overseas. The US banks insist on sending security codes (OTPs) to me via SMS. And they’ll only send to a US phone number, which I no longer have. And they ...
bubba's user avatar
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0 votes
0 answers
65 views

Alternative to bank security codes sent by SMS [closed]

I live in Japan, but I have bank accounts in the US. The US banks (especially Bank of America) insist on sending security codes (OTPs) to me via SMS. And they’ll only send to a US phone number, which ...
bubba's user avatar
  • 273
0 votes
2 answers
267 views

Can I dispute ATM fees?

I was going through my statement the other day and noticed that the ATM had been taking $3 for a balance check. Can I do something to get these charges reversed?
Christina Day Christy's user avatar
-1 votes
1 answer
126 views

If it is mandatory for the person to appear at the bank in order to create a bank account then why is LLC an exception?

I have seen on many sites that I can create a company and a bank account in the USA 100% remotely and without a visa and all of that thanks to LLC but due to the requirements that banks have with the ...
Willy's user avatar
  • 97
2 votes
1 answer
7k views

Received unidentified "PayPal" payment - bank and PayPal deny knowledge

I recently received a payment to my bank account. The sender is shown as 'Paypal'. I can't think what the payment is for. I contacted PayPal, who say they have no record of this payment, and the ...
mjc's user avatar
  • 123
1 vote
1 answer
193 views

Banking for digital nomad

I am planning to travel for a long time, maybe staying somewhere for a couple of years, don't know yet. Basically living the life of a digital nomad for an extended period of time. As such, the ...
eugenekr's user avatar
  • 131
0 votes
1 answer
103 views

Credit Union and Elavon: closed account and acceptance of refund/credit

I was issued a refund by a vendor on 3.11.22 to a debit card of an account that I had closed in October 2021. She did not ask me what card to refund, she just refunded it. She got an error saying that ...
Mindy Swank's user avatar
0 votes
0 answers
76 views

USA to CA transfer

I am located in Canada. My friend was sending me some money. She is located in South Carolina and sending via bank to bank transfer. Transfer was made two weeks ago and still has not been received on ...
coco's user avatar
  • 1
0 votes
1 answer
226 views

How can banks / apps accept debit cards without a fee?

I have searched on here and haven't found an answer yet. I'm curious why certain apps like CashApp can accept a debit card with no fee to the user. Doesn't the bank need to pay the Discount Rate, or ...
Joe B's user avatar
  • 9
14 votes
3 answers
8k views

Is it illegal for a company to cross out the "To the order of" line on a check and change companies being paid?

Long title, but I wasn't sure how else to put this. Basically, I paid a contractor to do some work. They have two companies, one with assets, and one with no assets. We'll call them: Company A: No ...
trueCamelType's user avatar
1 vote
0 answers
102 views

What happens to stock bought in banks in case of bankruptcy?

There is a Bank Guarantee Fund (in Poland, and similar stuff in other countries) which protects up to 100 000 EUR in case of bank problems, i.e. going bankrupt. Now, there are banks which offer ...
Rad's user avatar
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0 votes
1 answer
117 views

How much data does Zelle collect?

I know Early Warning Services LLC sees all payments made through Zelle. But do they also collect data on other transactions and accounts with your bank? What are all the privacy/security implications, ...
Cam's user avatar
  • 9
0 votes
1 answer
71 views

Trust Checking Account

I am the beneficiary of an intervivos trust. There are two trustees and I am one of the trustees. The trust has two brokerage accounts. Both trustees must approve all distributions from the trust. ...
Bob's user avatar
  • 1,521
4 votes
2 answers
3k views

The last letter of my name is missing on my bank account information, should I keep trying to fix it?

I live in Mexico and I've got my first debit card. I have three names. In total (counting spaces) I need 21 characters to write them. After realizing that the last letter of my last name is missing in ...
Amelian's user avatar
  • 143
-2 votes
3 answers
290 views

What does the bank actually do with a debt that can never be collected?

Let's say the bank has come to the conclusion that the person is not going to pay his debt. -Died without assets, alive but in Siberia for 20 years, in a very, very bad medical condition. What does ...
postFix's user avatar
  • 105
0 votes
2 answers
247 views

Credit card company won’t take their money

Account was transitioning to closing so I couldn’t pay until it transitioned which took over a week of me calling. Attempted to make a payment but it got declined from my debit card which the credit ...
breadgg's user avatar
-2 votes
1 answer
177 views

With 500k in Netherlands, Best path towards regular income, settle mortgage and rent or sell and invest?

Currently I live in Netherlands. I have come to a crossroad and I'm interested to hear other opinions and advice on investment for a regular stable long term income. My ultimate intention is to secure ...
Kareem's user avatar
  • 97
0 votes
2 answers
271 views

Is it safe to give this info out if I didn't receive an ACH transfer to my account

I won on an online casino and it's been longer than normal. When I contacted the casino they said they had processed it 7 days ago and if it hasn't hit my account they need the following information ...
Connie Lynn Rolnicki's user avatar
1 vote
0 answers
154 views

Does Capital One Buying Discover Revive My Capital One Debt?

I never paid a Capital One CC debt and now have a Discover card. After the proposed sale of Discover to Capital one can Capital One transfer my old debt to the Discover account that I have and ...
Bert's user avatar
  • 11
0 votes
1 answer
359 views

My friend is in prison but he was able to get a stimulus check. How to cash it?

My friend is in prison, however he was able to get a stimulus check from the IRS when they were allowed to. I tried to deposit his check into my account after he signed it, but my bank rejected the ...
Carolee James's user avatar
2 votes
0 answers
71 views

ING Postident with austrian passport

My girlfriend wants to open a bank account with ING. We both live in germany. Now she has to verify her identity by Postident. However, it's not working out so well with her austrian passport(...
user214579's user avatar
0 votes
0 answers
35 views

compute Invested Capital for banks on finance.yahoo . .

My question is about the calculation of Invested Capital on finance.yahoo.com . . . and in particular the calculation of this metric for banks. On finance.yahoo, under Financials > Balance Sheet, ...
Sander's user avatar
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12 votes
10 answers
6k views

How can people sell high-value items when bank drafts cannot be trusted?

Someone deposited a bank draft and had the bank manager clear it, but later, the bank draft was reversed. Other people have reported similar incidents many years ago. Since bank drafts are proven to ...
Victor's user avatar
  • 269
-6 votes
3 answers
462 views

Why haven't government/banks acted to prevent money laundering and other scams?

I read about so many scams where people are given large cheques to deposit, and then asked to repay most of the money and keep a bit for themselves. The cheques then bounce, and the person is out the ...
GentlePurpleRain's user avatar
14 votes
2 answers
8k views

Is this a fake bank?

Is www.firstcapital.com a legit bank? Someone transferred money to an account they told me to set up with this company. Now I realize this may be some type of scam.
Jim Strain's user avatar
1 vote
1 answer
180 views

Is there anyway to retrieve the MCC of a store while making a transaction?

I'm trying to build an app that involves credit cards and I want to know if there's a way that I can get the merchant category code (MCC) of the store before I make a transaction using a credit card ...
Alexander Dong's user avatar
0 votes
1 answer
122 views

Credit Union changeover

I had an account with what used to be Montgomery County Teachers Federal Credit Union and now changed over to Educational Systems Federal Credit Union, which during the changeover for some reason my ...
Shaye's user avatar
  • 1
3 votes
2 answers
552 views

Why Wouldn't A Bond Issuer Call A Bond When Rates Fall?

See CUSIP 172967AS0, issued by Citigroup in 1998, with a 6.875% coupon and a maturity date in 2098, a 100-year bond. Fidelity says this bond is continuously callable, so why didn't Citigroup call it ...
Sam Skuce's user avatar
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0 votes
0 answers
242 views

Could this be a scam [duplicate]

I'm asking a couple questions for a friend because I think he is being scammed. Is it possible to receive a check of a very large amount into a banking system (ILC group), but for you to receive it ...
Christy Taylor's user avatar
0 votes
0 answers
1k views

What is the meaning of 'Repayment Credit' in banking

I had a FD in an Indian Bank. I told the bank to close my FD. While previously, whenever I closed my FD, my bank statement showed the transaction remark as Closure Proceeds but on this transaction, it ...
ZNAXNOR's user avatar
0 votes
0 answers
197 views

Unauthorized withdrawal of money from my savings account by Bank

I have a Savings Account in a Bank. The bank withdrew money (₹ 1,75,000/-) from my savings account by account without any authorization (no check, no withdrawal slip, or anything of the kind). My bank ...
ZNAXNOR's user avatar
1 vote
1 answer
292 views

LMS Code for making international transfer

I have been asked to make advance payment of 85 usd for LMS code inorder to make international wire transfer. Why are they not deducting. Could this be a scam attempt by the bank. The bank is ...
Laldinliana 's user avatar
2 votes
3 answers
623 views

Incoming foreign wire transfer landed in someone else's account. How do I get it back?

I was expecting an incoming foreign transfer into my checking account. After much delay, the bank informed me that the wire transfer landed in someone else's account. I realized that the sender made a ...
user2977238's user avatar
1 vote
1 answer
220 views

Why does Apple have a BIC code registered for them?

From https://apple.stackexchange.com/questions/466770/why-does-apple-have-a-bic-code-registered-for-them?noredirect=1#comment691333_466770 It's not unusual for a legal entity to have an IBAN, but why ...
RokeJulianLockhart's user avatar
0 votes
1 answer
99 views

Can buying mortgage points reduce a rate below the applicable federal rate?

And if that is possible how does this prevent the bank from avoiding paying imputed interest. Additionally could points be purchased to bring a rate to zero or a negative number?
CodeCamper's user avatar
1 vote
1 answer
98 views

How to handle US financial accounts after leaving?

I moved out of USA in Oct 2023 after living there for 8 years as a temporary worker. I am not working in USA anymore (physically or remotely). I have the following accounts: Robinhood brokerage: ...
sam's user avatar
  • 151
7 votes
4 answers
3k views

Exchanging currencies at Foreign Exchange market instead of bank

Normally if we want to exchange US Dollars into a foreign currency (Euros for instance), we would just do it through our bank. For example right now the exchange rate (from google) is 1 USD = 0.95EUR. ...
ronald christenkkson's user avatar
1 vote
2 answers
422 views

Are there any amortized home mortgage loans where the monthly payments are distributed equally between interest and principal?

Are there any type of home mortgage loans where the amortized monthly payments are equally distributed towards the interest and principal? I understand this would violate the current formulas used to ...
Ali Vand's user avatar
1 vote
0 answers
134 views

Leaving country soon, can I leave my bank accounts open?

I am a Tunisian citizen currently residing in Turkey with a work permit. However, due to a restructuring in the startup I worked for, I've been laid off and my work permit will not be renewed. As it's ...
Mehdi Saffar's user avatar
1 vote
1 answer
94 views

Transferring money: effective person-to-person transfer mechanisms: ACH, Fednow,wire, something else? [closed]

I'm curious what mechanisms exist to transfer "largish" amounts of money from one individual to another in the US. Sending a check seems archaic and the last one I sent was lost in the mail. ...
hillbump's user avatar
0 votes
1 answer
239 views

Why is a failed ACH payment more likely to trigger an NSF fee than a failed Visa/MasterCard debit payment?

Background information (you can skip this) The average NSF (insufficient funds) fee in the US is $34. (Source.) Dipping below a zero balance can sometimes lead to hundreds of dollars in cascading ...
unforgettableidSupportsMonica's user avatar
0 votes
3 answers
2k views

What information is needed for someone to withdraw money from someone else's (US) bank account?

I have a US bank account and a paypal account. I wanted to withdraw money from my bank account to my paypal account. The first step was to link the account. I did that by giving paypal my account ...
HanMah's user avatar
  • 365
1 vote
1 answer
2k views

Are banks willing to lend money to one-man APP startups?

I am one person building a social-media-ish APP. I am 2 years along. Let's say that it's 90% finished. How do you get a bank to lend you money for this APP?
Bear Bile Farming is Torture's user avatar
0 votes
0 answers
77 views

Challenges with SWIFT Transfers and Name Sanctions

My SWIFT transfers, approximately 5000 USD per year, have consistently been held by the intermediary bank. For the past 6 months, all of my payments are blocked. My clients are universities and ...
Mohaqiq's user avatar
  • 101
0 votes
2 answers
121 views

Is FIS (Fidelity National Information Systems) a client of CENTRL?

The company CENTRL lists FIS* as a client on their website. Can anyone verify this, or show me how to verify it? Susquehanna mentions CENTRL on their site as someone they have backed. *FIS site: https:...
TyrannicalDuncery's user avatar
8 votes
3 answers
2k views

Are high yield savings accounts as secure as money market checking accounts?

I do asset allocation: 10% in cash. 40% in equity mutual funds. 60% in bond mut funds. I've had the cash in Vanguard money market funds. Wondering about keeping some of the cash in HYS account to ...
Doug Null's user avatar
  • 676
0 votes
1 answer
52 views

Interest rates effect on bank jobs and junk funds from the book intelligent investor

On chapter 6 of the intelligent investor with commentary by jason zweig Pg:147 is discussing about junk bonds. I ran through the text however I have some curiosity that I want to get addressed. Here ...
CREATIVITY Unleashed's user avatar
16 votes
2 answers
7k views

Why would the Bank not withdraw all of the money for the check amount I wrote?

I wrote a check for rent in the amount of $825. I watched my account to assure the funds would be gone so my checkbook was balanced. Then I saw WITHDRAWAL NSF #### in the amount of $825 But the weird ...
Emily Migneco's user avatar
0 votes
1 answer
142 views

AML Check & Refundable Deposit for releasing the payment

As a freelancer, I have recently accepted a project and the employer agreed to make an upfront of nearly $3000. I asked him to send the money to my uncle's account in the UK. He agreed. I provided him ...
Mohammad Javanshiry's user avatar
0 votes
1 answer
176 views

BoA is saying my Washington State immigrant relief fund (Covid19) check is suspicious. What can I do?

I got a covid 19 help check from the fund mentioned in the title. I deposited it to my account via Bank of America ATM. 2 days later, my bank said that the check was a suspicious transaction and that ...
user123156's user avatar

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