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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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 ...
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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 ...
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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?
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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: ...
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4
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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. ...
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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 ...
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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 ...
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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.
...
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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 ...
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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 ...
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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?
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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 ...
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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:...
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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 ...
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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 ...
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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 ...
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Source or derivation of recurring deposit formula
The formula for calculating the maturity value of a recurring deposit is widely used by banks in India. The formula is based on quarterly compounding and is as follows:
Maturity value of RD; based on ...
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1
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113
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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 ...
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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 ...
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What are the long term consequences to an investor of these US bank cash outflow?
I saw two news
$910 billion in deposit flight from banks in one year
and
one week 98 billion out from bank
My main question is how long term investor protects from any harm that may be building up, ...
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if we had only one bank left, will there be a bank run? [closed]
It's not a serious question.
You see when small banks fails, big bank came and absorb it.
So I just wonder what will happen if we got only one bank left.
All money businesses are within that bank and ...
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I have opened an account with a Neobank Yuh. I'm totally confused why I don't have a username and password, there is also no 2FA [closed]
In less than 1 hour I was able to open an account with Yuh. The process worked very well, only small bugs.
I could not find a web UI for Yuh. On the iPhone Yuh app, I log in with FaceID. Am totally ...
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Does anyone know where the rules for printing/writing checks are defined?
I know this is somewhat offtopic, but I'm really not sure where else to ask:
I've got an idea for (mildly) improving check security. Something similar has been done in the past, but that was decades ...
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5
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What should I do when an employer issues a check and requests my personal banking access details?
If an employer provides a check to be mobile deposited and subsequently the check is insufficiently funded, and creating an overdraft of my account. The employer "claims" in order to resolve ...
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What's up with banks closing down their high yield savings accounts and incentives lately?
We had been keeping our cash savings in a Purepoint high yield savings account for the past few years, until we got this email from them a couple months ago:
"We’re reaching out to let you know ...
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2
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In a European country, it is possible to withdraw money, for example, from an e-wallet or electronic payment system, without using a bank account?
Is there a way in Latvia to withdraw money from an e-wallet (such as Qiwi and ....) or an electronic payment system (such as PayPal, Skrill and ....) without using a bank account. Maybe some payment ...
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What is the IBAN number of an account in Canada?
I need to make a wire transfer from Europe to Canada through the banks.
Europe is using IBAN code system for wire transfer. It has a 26 digit code.
Canada is using SWIFT code system for wire transfer. ...
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Is the Interac e-Transfer email-to-bank-account mapping unique?
A mechanism (Interac) in the Canadian banking system permits people to send amounts less than $3,000 over email.
This also works for transferring funds between two accounts held by the same person at ...
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Keep money in Australia but have access to them overseas
I am going overseas for extended period of time. Gonna have overseas residential address, mailing address and non Australian phone number. But I want my life savings to be in Australia with access to ...
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Are there "banks" (or something morally equivalent) which merely stores their clients' money and doesn't invest/lend/etc it?
Another year, another major bank or two goes down because it decided to take the money that it was entrusted with it and go gamble. All of them fear "bank runs" because they know that they ...
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How does a beneficiary receive benefits if an FDIC insured bank goes bankrupt?
I have three questions:
Generally, in the US, can a beneficiary receive the inherited benefits for a certificate of deposits (CD) in a single bank if an account holder (single) who purchased the CDs ...
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How do wealthy folks protect heaps of money, specifically relating to bank collapse [duplicate]
Given the recent Silicon Valley Bank issues, what do the wealthy do to protect their fortune? If you have it sitting in a bank, it's vulnerable if the bank is poorly managed.
The stock market seems ...
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What happens to depositors at Silicon Valley Bank?
Today, Silicon Valley Bank is bankrupt, the second largest bank failure in American history.
What happens to its depositors? Will they be able to withdraw (some of) their money? How long will they ...
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Are demand and time deposit accounts really loans _to_ the bank?
Borrowers pay interest to borrowees any time they take out a loan.
The Government even pays interest when you "buy" it's notes and bonds.
Banks, too, pay interest to deposit holders. Does ...
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Bank accounts closed unexpectedly, funds missing
Wells Fargo bank closed my accounts and haven't sent me my funds. I keep getting run around about who to call; what can I do?
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How can I minimize possible future ties to economics and live as stress-free as possible on an economic level? [closed]
I have no other way to phrase this but for some reason, even the meer mention of most personal finance topics sets off panic attacks (probably a lack of understanding or ability to comprehend the ...
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What factors to evaluate in a bank or credit union when investing certificate of deposits in the US?
How do I evaluate a bank or credit union for its financial strength and trustworthiness before investing in their certificate of deposits in the US?
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How to deposit $9,900 in $100 bills when I only have accounts like Schwab and CapitalOne
I sold a car and have a bunch of cash that I'd like to put into my CapitalOne savings account.
I live in the Atlanta suburbs, where CapitalOne has no branches and no ATMs that accept deposits. Their ...
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What formula has bank used in this situation?
This is the bank fixed deposit's start date and end date with the principal and maturity amounts. The rate is 7% p.a.
Could anyone help with how the bank has calculated this maturity amount?
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How is the IBAN created worldwide?
I have a big list of Account Numbers, corresponding currencies and BIC-Codes.
For every Bank I know BIC-Code and location.
Now, I am interested in calculating the IBAN for every Bank-Account, if ...
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Bank loan related fraud in India
I am asking this question on behalf of an Indian friend of mine.
My friend (A) is planning to sell a house. The prospective buyer (B) will take a bank loan to buy the house.
Now B suggests that an ...
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Why would I (with good credit and financial history) be denied while applying for a business checking account?
I've applied for several accounts, and all of them were denied, most instantly. I have an 800+ credit score, a clean checking history, and so on. I do not have any business financial history - but ...
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Transfer of money between two international euro accounts
I was wondering if it is possible to transfer money electronically between my Finnish Nordea every-day bank account and my French Societe Generale bank account without any fee? I did a test transfer ...
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Does a retail brand (e.g. Walmart or a regional coffee chain) have one Merchant ID per location, or just one for all of its locations?
Let's say I'm a big retail brand like Walmart or a small local chain of coffee shops, and I accept credit card payments.
Through my acquiring bank (or an acquiring bank by way of my MSP like Square or ...
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I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?
I wrote a check for 3495.00. For the written amount, I wrote "Thirty four ninety five and 00/100". When the recipient deposited the check, it was rejected due to "invalid written amount&...
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Why it is not possible to set a recurring weekly electronic money transfer to a 3rd party?
I am trying to set up a weekly recurring electronic money transfer (EFT/ACH) order to a 3rd party's checking account. It happens that 6 banks (so far) would not allow that. It seems like my options ...
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I would like to know if this bank is legitamate? [duplicate]
I need to check to see if this back is legitimate. My boyfriend has over a million dollars in this bank MBFBonline? They locked his account because the company he worked for in Berlin sent all his ...
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2
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Should I keep track of money flowing out of my business bank account, when it's not used for business purposes?
Right now the account will only exist to hold my own funds (that I've earned elsewhere, and paid taxes on). I plan to take them out to use for non-business expenses on occasion, before I get off the ...
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What happens if you don't pay a bank's account closing fees in the U.S?
Many banks charge account closing fees of $25 to $50 when a customer wants to withdraw their money and stop using their services. I'm not sure if these fees are even enforceable, but I would like to ...
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"Check" created from multiple overlapping checks
I use Bank of America and wrote a check for rent in September this year for an amount of $2850. I turned in the check physically to the landlord and the amount was drawn from my account normally, but ...
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