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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"

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What if my employer deposited my HSA into the wrong account for two years? How do I rectify the situation?

What if my employer deposited my HSA into the wrong account for two years? How do I rectify the situation? 2017 and 2018 my HSA deposits were made to my checking account. How do we correct this error ...
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This sounds like a scam to me, am I wrong? [duplicate]

This was an article in the Penny Hoarder about a California startup checking company called Aspiration that pays 1% interest that lets you choose how much you pay in “fees.” Is this garbage? It sounds ...
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1answer
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Bank is not depositing my new account promotion bonus [closed]

I opened a bank account in response to a promotion in a big bank. Originally it was saying if I keep my money (50K) for 60 days, I get $600. The agent at the branch didn't say anything more. Then they ...
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When do institutions exchange physical currency from electronic payments?

This question always been on my mind and I never truly understood the concept. I’ve done some digging and haven’t found the answer that is comprehensive. I want to understand at what point does a ...
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1answer
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My checking account used to be joint- can I still use the checks with both names?

I have a checking account for bills that I mostly use a debit card for, but I need to pay something by check now. This account used to be a joint one with my mom when I was a kid, but we took her off ...
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2k views

I was asked for a COT code to transfer money to my account. Is this a scam?

Someone gives you their bank information and asks you to log on to their account in order to transfer money to your account. When you attempt this, it asks for a COT code which you do not have. ...
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is it possible make initial deposit for opening a new bank account from a friend's bank account in USA? [closed]

I have my friend's account number and routing number. When I'm opening a new checking account can I use his bank account to make initial deposit into my new account? I know there is verification that ...
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How can I see if/what income/current account payment data is gathered by credit referencing agencies?

According to two Telegraph articles: Almost all of Britain's banks now record most current account customers' monthly incoming payments. This is distributed monthly to credit reference agencies [..] ...
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How can I find out how to trace where Mobile Deposits to my checking account came from?

There have been several checks deposited into my checking account over the course of the year. The checks are not payable to me and the checking account is in my name. The back of the checks are not ...
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177 views

Avoiding Chase monthly checking account fee

With my checking account I have maintained a daily balance greater than 1500 dollars to avoid the 12 dollar monthly fee. As I earned more income I started moving it to a savings. Now I have ...
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Can a sole proprietorship survive with just a saving account in India? [duplicate]

I understand that the current accounts in India provide a facility of unlimited number of cash withdrawals restricted only by the funds within the account (some may also offer overdraft facilities). ...
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In the UK is it illegal for banks to open current accounts for non-residents/tourists?

To phrase it another way, if a Singaporean tourist walks into a MetroBank or HSBC branch in London, would the bank be allowed by the FCA to open a current account (at the branch managers discretion ...
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Used to have German current account, left without closing it

In 2011 I spent a few months in Berlin and opened an account with Berliner Sparkasse. I left the country (returned to the UK) but neglected to close the account (every interaction with the bank ...
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1answer
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Joint account with my home equity

Can second person on my joint account write checks to deposit to their own credit union if proceeds were from my home equity?
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Rent cheque was stolen from landlord - am I obligated to pay again?

I live in Quebec, and my rent cheque was stolen from my landlord as they travelled to the bank to deposit it. They've asked me to stop payment on the cheque, and provide them with a new one. The ...
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How to link multiple checking accounts with 1 other checking account

I have multiple bank accounts and I am trying to transfer money between them. Two of the accounts (A&B) are with the same bank and I am trying to transfer money to another account (C) which is ...
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1answer
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Why does my bank want me to resubmit a W8-BEN? [closed]

I opened a TD bank checking account as a foreign tourist in 2013. I had filled the w8-ben form. Recently, I received a letter from the bank asking me to update my occupation because they didn't have ...
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1answer
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Is money in a European bank current account guaranteed by the state? Which state/fund guarantees?

I have a sum of money in a European bank, and I prefer to have it in a current account for two reasons. One, I don't know how much over the coming year I will need to spend without notice and two, the ...
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When making an online money transfer, why is one often asked whether the source account is checking or savings?

When making an online money transfer, why one is often asked whether the source account is checking or savings? Example in Merrill Edge (https://olui2.fs.ml.com/MoneyMovement/MakeTransfer.aspx):
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Will an only-online checking account work for a new worker? (18 years old)

I am completely new to opening banking accounts and using checks and all of that. I just got a job at McDonald's and I can get paid with a money card (not sure what that is yet) until I open a ...
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1answer
11k views

Any risk in providing bank account number routing number along with name and DOB? [duplicate]

I applied to a remote job on indeed North America (job listing had Louisville, KY as location), and overnight , without interview, they gave me an offer letter saying I was selected and I'll be a part ...
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2answers
572 views

Checkbook was turned into police dept. Is there a way to figure out what checks (if any) are missing?

I know that bounced checks can bite me in the ass later, but I have no idea whether any of the checks were actually taken out of my checkbook. I thought about looking at my bank account, but I visit ...
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How should I save money? [duplicate]

It has been about a year since I graduated college and started working. So far all my earnings are going into my checking account. Since I don't have much experience with managing my finances, I was ...
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Overdraft Protection - Is this legal?

I recently got an overdraft when I forgot about a pending transaction. That's completely fair and I understand what happened. However, what followed concerns me deeply. I had OD protection on my ...
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2answers
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How does one access liquid cash with a credit union checking account from a different state when no ATM of the bank is around and checks are rejected?

My brother recently moved to California and he needs to pay for gas and food for the next 1-3 days. He has a credit union account and credit card from our local credit union bank. His credit card ...
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Does a savings/checking account sitting at $0 have any drawbacks?

I currently have a couple checking/savings accounts that are sitting at $0 because I found better accounts and switched banks for some reason or another, is it worth the time to try to close these ...
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1answer
247 views

Using business check to pay at retail

I recently opened a LLC bank account, and need to buy some equipment (computer parts) for the day-to-day operation. I want to buy in a physical retail store for convenience. Can I use a business ...
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1answer
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Are consumers liable for fraud related to bank account and routing numbers?

There's a ton of information about liability related to fraudulent debit and credit card charges, and even a little about fraudulent checks, but I'm having trouble finding similar information about ...
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3answers
39k views

Paid credit card bill, but money didn't leave my checking account [duplicate]

I paid my CC bill last Friday morning. The payment appeared in my CC account that same day. But now, 3 days later, the money still hasn't left my checking account (which is in a different bank). I ...
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1answer
247 views

Unable to transfer money from US bank account (checking acct) to NRE/NRO

I want to transfer some money from my USA checking account to my Indian NRE and NRO accounts but unable to do so. I did try online under Transfer money (add external account using routing number) but ...
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Scheduling bill payments exactly on pay day - dangerous risk of overdraft?

Every payday, my pay is deposited into my Citibank checking account by ACH transfer. Before pay day there is close to $0 in my checking account, as most of it is transferred to savings. Usually in ...
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Is it safer to have checks sent directly from the bank?

Is it safer to have checks sent directly from the bank using online 'bill payer'?Is your personal account number and routing number on those checks?
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695 views

Why should I choose a business checking account instead of a personal account?

First, this is not a question of separating money, but a which product to choose. So put away the torches and pitchforks. So, in researching for my wife's sole proprietorship LLC, we can't find a ...
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Lost bank information

I found an old bank check registry from my grandmother whom has passed away some years back, but the banks name is Akron national Bank and in the registry she had a balance. Is there anyway to track ...
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1answer
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Does opening or closing a checking account show up on a credit report or affect credit score? [duplicate]

Suppose someone in the United States took any of the following actions: Open a new checking account. Closing an existing checking account. Close the checking account with the longest standing. ...
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Can I locate the name of an account holder by the account number and sort code? (U.K.)

I received an invoice from a landlord about a cleaning bill. I heavily dispute this (is seriously out of whack: charging 7 hours work for a 15 minute job). She's being all weird and cagey about things ...
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Savings vs. checking account — when to prefer savings if interest is the same?

Let's say I'm opening a new checking or savings account, assuming: I already have another checking account All accounts offer the same interest rates Why would I ever choose to open a savings ...
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Why do sole proprietors in India generally use a current account?

I was told that sole proprietors in India use a current account for their business, rather than a savings account, to avoid interest. I don't understand why — if you account for the interest properly ...
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UK Current Account switching bonuses - applies to new accounts?

I see lots of current accounts have switching bonuses - is there generally any limit to how soon after opening a new account you can switch and get these? More specifically: say I opened a current ...
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1answer
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Can we cash a check under business name?

My friend has 2 US Bank accounts. One is under informal business names "Money Making" and the other is under personal name. He's been trying to contact a person in USBank for several days via email ...
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2answers
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Consequences of having an ACH payment declined?

Apart from embarrassment, is there any other consequence to having an ACH transaction declined (like an automatic payment of some sort)? Is it treated the same as a check bouncing? Does it affect ...
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1answer
391 views

Eliminate fee on Bank of America personal checking with ACH to self?

A couple of years back I opened a Bank of America business checking and savings account to go along with the Bank of America personal checking account I already had. The reason I did this was to keep ...
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What happens if there are insufficient funds in my checking account when a cheque is deposited?

In my question, there are two accounts involved. I will call the account where funds are being taken from (debited) Account A and the account where the cheque deposit happens Account B. Question: At ...
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Physical CHECK Front Side - Question

Would anyone please be so kind to tell me which address is under the name of financial institution which is located on the top of front side of check? Is this address the address where the letter ...
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1answer
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Should written checks be accounted in Accounts Payable?

Should the checks I write be logged via my Accounts Payable account, or just directly from my Bank Asset account to my Expenses account? I see issues with both methods: Bank Asset => Expenses An ...
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1answer
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Opened an account someplace where I don't live

So I was visiting Miami, when I opened a bank account there. I live in CA and I got a job here. I was asked regarding my bank details and was wondering if i should give the routing number of Miami or ...
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What leverage do I have to negogiate reduced overdraft fees?

Through a comedy of errors involving other financial institution, my checking account at a credit union went negative, and I was charged $200 in overdraft fees. I don't think I'm responsible for the ...
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Why do UK banks require monthly “pay in” into current account?

Many UK banks require minimal monthly "pay in" (often 500-1500 GBP) to get interest rate payed on their current accounts. Sometimes there is a restriction that payment must come from another bank (...
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In which situations is it better to consider a loan instead of paying cash?

I live in France where credit cards are less widespread than in the U.S. The default account for us is a checking account. Often you can't spend more than what is in your account; otherwise you have ...
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4answers
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What is the preferred way to set up personal finances?

I'm trying to figure out how to set up a personal finance system that is simple. I want to know things like: How many bank accounts should I have and what kinds, and how much (percentage-wise) of my ...