Questions tagged [checking-account]
A type of bank account that allows unlimited withdrawals and usually gives no interest on the balance. The account can be set up so that a negative balance produces an instant loan, referred to as Overdraft Protection. The term checking is used in US and Canada. In other countires the term Current-Account is also used to indicate the same type of account. Related tags "savings-account", "bank-account"
163
questions
3
votes
1
answer
109
views
Will you be charged any NSF fee for a declined online Debit MasterCard or Visa Debit transaction in Canada?
You open a chequing account with a Canadian bank: e.g. Simplii Financial or another bank. They ask if you want overdraft protection; you say "no thank you". They give you a Debit ...
0
votes
2
answers
145
views
How can I see the endorsement information on the back of cancelled checks?
Back in the days when banks provided our cancelled checks, we could see how the check was endorsed and the accounts into which it was deposited by looking at the rear of the cashed check.
However, ...
- 9,755
7
votes
6
answers
4k
views
Is it safe for me to give my checking account's routing and account numbers to a credit card company?
I have a credit card from one of the top five largest banks in the United States. The credit card offers cash-back rewards. The credit card company offers that the cash back can be issued directly to ...
- 179
0
votes
1
answer
207
views
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?
- 1
0
votes
1
answer
118
views
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 ...
0
votes
2
answers
100
views
Why would a financial services company force their customers to link their checking accounts to an existing or new brokerage account?
I read on page to create a new checking account at Charles Schwab Corporation in the US:
Your new checking account will be linked to one Schwab individual brokerage account. You can open a new ...
- 11.2k
14
votes
7
answers
4k
views
Does it hurt anything to have an unused checking account?
I have an old checking account, at a bank I no longer use (it's my only account there), with just a few cents in it. There are no account fees. Are there any reasons why I should or should not close ...
- 1,399
3
votes
1
answer
1k
views
I received a $150 check from Wells Fargo. I did have an account that was closed out of the blue for no reason. Are they trying to get out a lawsuit?
I received a $150 check from Wells Fargo that was sent by federal express overnight. I did have an account years ago that was closed out of the blue for no reason. They said it was suspected fraud ...
23
votes
7
answers
7k
views
Why should I not keep my checking account at $0 and use overdraft protection?
My savings account earns interest; my checking account does not. I have overdraft protection, so if I overdraw the checking account, the money comes out of the savings account. It seems like I could ...
- 1,399
0
votes
1
answer
207
views
Social implications of using a prepaid card only instead of a bank card?
Many times one is asked to give an account transaction list in pdf (what are they called??) Perhaps when buying a house or starting a new job. I'd like to use a prepaid card account that accepts wire ...
29
votes
8
answers
10k
views
I closed my CU checking/savings accounts. Weeks later the bank auto-paid my rent. Now they want me to pay them back
I requested the closure, and I was mailed my balance and told that my account was now closed, all dome in writing through the messaging system. Weeks later they paid my rent. Now they want me to repay ...
- 415
-3
votes
1
answer
155
views
Is it possible to make a transfer without the bank knowing? [closed]
I don't know if they approve every transfer, so if not, is it possible?
- 1
0
votes
0
answers
33
views
Can you restrict the payee and amount of a blank check? [duplicate]
Suppose I want to allow John Smith to spend up to $30 out of my checking account at McDonald's at any point in the future (but only one time). If I write a check payable to McDonald's and sign it, but ...
- 1,399
-1
votes
1
answer
99
views
Where do I submit an ACH file in my application code?
i have 2 bank accounts Gobank and TD bank.
i need to Debit Gobank and Credit TD bank via ACH.
okay i understand the part where i collect information for each bank but where do i submit the information?...
1
vote
2
answers
63
views
Time for an ACH Transfer
Imagine an investor who has two accounts at the same broker. One is a living trust account and the other is an individual brokerage account. Now the investor wants to move money from one account to ...
- 1,420
1
vote
2
answers
142
views
How to manage money with no expenses [closed]
Suppose a person has $165K in his checking account and has no expenses (e.g living with parents, home cooked meals, etc.).
What would be the best way to distribute/use this money? Should some of it be ...
2
votes
1
answer
165
views
How can Genisys afford to pay 4.07% APY on checking accounts?
They do say
“Must enroll in eStatements and use your Genisys Debit Mastercard® at least ten times per month for purchases of $5.00 or more, excluding ATMs, to earn 4.07%APY.”
And that
”Balances ...
2
votes
2
answers
468
views
What can I do to get my bank, Wells Fargo, to credit my checking account the $1700 that was taken from my account via an unlawful wire transfer?
I visited my branch and reported that funds were missing from my account. The banker took down my information and created a case file and told me that this would be investigated and that I would be ...
4
votes
1
answer
296
views
What is the difference between a checking account and savings account?
I understand the exact difference will vary from bank to bank. But in general, I understand that savings accounts have a higher interest than checking. So if it's that simple why not always use the ...
- 1,109
0
votes
2
answers
309
views
What exactly are the drawbacks of moving money from a checking account into a savings account?
My paychecks get directly deposited into my checking account, and I haven't bothered to move any of it into my savings account because I know there are some drawbacks to having it in savings as ...
- 129
2
votes
2
answers
161
views
Disadvantages of putting all cash in a chequing account
When I opened an account at a bank, I was given two bank accounts: a savings account, and a chequing account. I was also given a debit card that is linked to the chequing account. The chequing account ...
- 16.9k
2
votes
1
answer
139
views
Switching current accounts
I'm thinking about using Monzo as my current account, mostly because it gives a nice itemized breakdown of different types of payments going in and out of the account. I've seen that there's a current ...
- 485
9
votes
3
answers
2k
views
Will closing a checking/saving account have a bad effect on my credit report?
I opened a saving and a checking account in Chase bank. But I decided to close them. I want to know will this has a bad effect on my credit, etc?
I also like to know should I pay money to close my ...
user109157
2
votes
3
answers
161
views
Difference between a checking and savings account
I'm aware that savings accounts in the US are restricted to 6 withdrawals per month, but what differences exist aside from that?
From what I understand, both are FDIC insured, meaning there's ...
- 167
3
votes
1
answer
286
views
Check depositing
My utility department sent me back some of my security deposit; however the check is made out to both me and my ex.(who I don’t know his where abouts) so it’s pay to order of said person and then ...
- 31
1
vote
0
answers
39
views
How to check bank bonus web page from last year?
I opened account in a TD bank. Bank had promotion going on in August 2020. I close account in same bank before 2 years.
Promotion T&C was starts with
Offer is available to new personal checking ...
- 143
21
votes
4
answers
11k
views
Is this a Bitcoin scam?
Someone wants to e-mail me a check, take the check to my credit union's ATM, deposit it, withdraw a smaller amount in cash, and use the cash to buy Bitcoin to send to him.
Is this a scam?
- 259
5
votes
1
answer
2k
views
Chase closed my account and is asking me to confirm the validity of my deposits. How can they do this?
Chase closed my checking account without any explanation at the end of August. When I contacted my branch in person, they were told over the phone from the main offices that I would receive a check of ...
- 77
1
vote
3
answers
453
views
Will linking SSN with checking account help build up credit score?
Background:
I’m an international student who is currently on F1 OPT.
I only have a checking account with a debit card at USbank. I use the debit card very often with no overdraft history.
I just ...
- 53
3
votes
3
answers
319
views
What if a counterfeit check had no mistakes or errors?
Last year my uncle came to learn that someone was able to draw out $15,000 from his account. This guy was good. Someone successfully made replicas of the checks my uncle would use. The placement was ...
- 31
-1
votes
5
answers
3k
views
Why can't I deposit a check from the drawer's bank to the payee's bank *at* the drawer's bank?
Let's say my name is Bob, and I have an account with Bank B.
I have a friend named Alice who's paying me back for something, and her bank is Bank A.
She issues me a check with my name on it, signs it, ...
- 132
2
votes
1
answer
192
views
Lost Deposit. Which bank is responsible? [closed]
I'm currently dealing with a clusterF around a deposit that was credited to the wrong bank account. Neither bank has the target account number where the deposit was credited. Both banks pointing ...
- 123
1
vote
1
answer
145
views
Wiill banks refuse my application for a current account if I don't pay a salary in?
I want to apply for a second current account to put funds into and also for some perks that they have (I don't want any interest due to religious reasons). But my salary will not be going into this ...
1
vote
3
answers
1k
views
How to cash my brother's check
My brother is 15 and he doesn’t have a bank account. I’m 18 and I have a bank account. Would I be able to cash a work check written to him?
- 11
2
votes
1
answer
609
views
I met a woman online who wants me to allow a third party to put money in my checking account to buy medicine for her mother
I've had a relationship for a month with a woman I met online. She is selling some things to make money to buy medicine from Africa for her mother. She wants me to give the buyer of the items my bank ...
- 23
1
vote
0
answers
439
views
ACH transfer to incorrect account type ('Savings' instead of 'Checking') - US bank to another US bank: Is it lost?
A friend visiting the US was asked to transfer $2000 for rent payment to a US bank account.
On February 12th, while doing an ACH transfer from his US bank account to the landlord's account in another ...
- 111
3
votes
0
answers
302
views
Bootstrapping Process for Creating a Single-member Limited Liability Corporation (LLC)
So I’ve read in a number of forums—mostly StackExchange and Reddit—that it’s a good idea to separate personal and business funds/transactions so that when it’s time to organize information for taxes (...
- 155
6
votes
4
answers
4k
views
Is there any benefit to keeping money in a checking account?
I have been getting a lot of "tips" from my bank lately about different ways to save. Things like "Save $1 week 1, $2 week 2", etc or "tax my spending habits".
Whenever I see things like this, they ...
- 193
0
votes
2
answers
6k
views
Check is made out to my business name and personal name - can i deposit it in personal?
I have received a check made out to
My Business Name
My Personal Name
My Home address
Formatted like that.
Can I deposit it in my personal checking account?
Thanks!
0
votes
2
answers
627
views
Why don't banks offer a combined chequing and savings account option? [closed]
A few Canadian banks offer a combined chequing and savings account — see beneath for a generic example. Most do not though.
A combined account seems better for the following reasons.
You must keep ...
user44213
-2
votes
1
answer
271
views
Counterfeit Money [duplicate]
I had a sugar daddy deposit 4500 in my account . By my debit card wasn’t working . So I called the bank they Lomé my account was blocked & to call the fraud center . My bank is pretty good at this ...
20
votes
12
answers
11k
views
How to manage expenditure when billing cycles and paycheck cycles are not aligned?
I get paid on the 15th and the last of the month and my husband will be getting paid weekly when he starts a new job after the one he has been working at for 25 years will be closing soon.
How does ...
- 335
3
votes
1
answer
3k
views
If a mobile deposit is denied due to exceeding limit, can it be deposited in person still?
This might sound like a stupid question, but considering it just happened to me I bet it will help others sleep at night when they decide to do a mobile deposit after hours. Of course, that depends on ...
- 133
10
votes
2
answers
3k
views
Why different interest rates for checking and savings?
I have recently become financially independent (21 yo student in US) and I am starting an independent bank account. I noticed that the interest rates on savings accounts are significantly higher than ...
- 103
0
votes
0
answers
3k
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
6
votes
2
answers
2k
views
Legal to apply dormant account fees until the account overdrafts?
Is it legal in the USA for a bank to assess and apply dormant account fees until the account overdrafts and goes negative?
This is happening to a friend of mine and it doesn't seem like it should be ...
- 163
6
votes
1
answer
778
views
Strange withdrawal from checking account
I got a notice that there was an ACH withdrawal yesterday from my checking account of $225.38 by OPENSKY PHONE PMT. I'd never heard of OpenSky before and I'm not sure what a "phone pmt" is. I called ...
- 163
0
votes
4
answers
391
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....
5
votes
2
answers
11k
views
Can I be arrested for not returning money someone else deposited in my bank account?
Someone sent me a check willingly for $4800 and now they want it back because I refused to send it to other people after it was sent in fear of me being involved in crime. And said I scammed them and ...
- 53
1
vote
1
answer
77
views
Is EIN sufficient to open a business bank checkin account for LLC?
I am a non US citizen living overseas. I had formed a LLC in WY using state agent and was able to get EIN number through FSS-4 form.
Now that I have heard, bank requires physical visit of owner to ...
- 113