Questions tagged [deposits]

related to depositing cash or check into a Bank Account or in general deposits kept for various purposes like securing a rental property etc. Additional context specific tags like bank-account, rental-property to be used as appropriate.

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Does indivitual investor get protected by Deposit Guarantee Scheme if the money has been transfered into a collective escrow account?

Some brokers like trade republic are advertising the investor's deposit is protected under Deposit Guarantee Scheme. But in the same time it keeps mentioning that the deposit is actually in a ...
Wang's user avatar
  • 123
1 vote
0 answers
26 views

Is personal loan interest deductable from other income / income for capital gains

Say I take a personal loan and invest that amount on P2P lending platform, or in a high yeild FD, or in the stock market. Is the loan interest that I pay for this loan eligible to be deducted from the ...
kbsbng's user avatar
  • 95
0 votes
1 answer
858 views

How can I make my phone number verifiable by Chase Bank?

My friend endorsed his payroll check to me and I used mobile deposit to deposit it into my Chase bank account. (Used to have PNC account and have never had an issue doing this) The check cleared my ...
Stephanie Kerchner's user avatar
1 vote
1 answer
263 views

Can the Zelle notes be enough of a written statement when returning a portion of the security deposit for Colorado Statute 38-12-103.?

Can the Zelle notes be enough of a written statement when returning a portion of the security deposit for Colorado Statute 38-12-103.
Charlie's user avatar
  • 11
7 votes
6 answers
15k 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 ...
Andrew's user avatar
  • 179
2 votes
1 answer
366 views

Is withdrawing all one's deposits a good tactic on pressing on the state? [closed]

In recent news, I see calls for people to withdraw all their cash deposits, supposedly to pressure against the state on a certain decision. (redacted the names since the question is not about the ...
Be Brave Be Like Ukraine's user avatar
5 votes
1 answer
561 views

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 ...
Ryan's user avatar
  • 430
2 votes
1 answer
274 views

Need help depositing a joint check without a joint account

I think I've really screwed myself over here. I was dating someone and I bought a car with them. It was all my money used to buy the car. I put the title under both of our names because I wanted it to ...
florabtw's user avatar
2 votes
2 answers
120 views

If deposit rate at banks > mortgage rate, does it always make sense to take a mortgage loan and not to pay in cash for house?

If deposit rate at banks > mortgage rate, does it always make sense to take a mortgage loan and not to pay in cash for house? It sounds simple but true. If mortgage rate is 5% and deposit rate is 7%...
user243557's user avatar
-2 votes
3 answers
518 views

In theory, can FDIC fail?

In theory, can FDIC fail? If it goings default, who is going to cover the customers? Will the federal reserve automatically prints money to keep FDIC alive? Or such decision must be made through a ...
dodo's user avatar
  • 161
1 vote
1 answer
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Why are returns on term deposits so much higher in Canada (than in other countries)?

If one searches for GICs (Canadian equivalent of a term deposit) on the Canadian financial service comparison site ratehub.ca for 3 year deposits with 10 000 CAD as investment capital, one will come ...
Jacob Horbulyk's user avatar
1 vote
0 answers
69 views

As a EU citizen, are there any low-effort diversification options that could protect me against inflation or a local crisis?

The recent political events in the EU and in my own country (Poland) led me to reconsider my current saving scheme and I'm looking for a low-effort way to diversify what I have in order to better ...
d33tah's user avatar
  • 197
0 votes
1 answer
200 views

What are safer alternatives to deposits that consumers can lose — if, after consumers pay deposit, a company goes bankrupt?

Many companies (call them D for Defendant) require monetary deposits from consumers (C for Claimants), before D undertakes time and effort to order the product. C is an unsecured creditor, and ...
user avatar
40 votes
4 answers
6k views

Possible scam for security deposit - bank operation

I am looking for apartments to rent in Switzerland and I came across a bank operation that is rather new to me. In order to put down the security deposit, I would have to do the following: Fill in a ...
embedded_dev's user avatar
  • 1,171
1 vote
1 answer
113 views

What is the point in limiting the number of current accounts/deposits or the amount one has in such accounts?

Context: EU country outside of the Eurozone. The main bank I am working with has issued a notification that says something along the following lines: no more EUR deposits maximum one current account ...
Alexei's user avatar
  • 217
1 vote
2 answers
303 views

What really is a recurring deposit?

What I do not understand is what is really meant by the term "recurring"? Also why is the minimum time limit between recurring and fixed deposit so different (min :6 months and min :7days) ...
Nayanthara Thomas's user avatar
2 votes
1 answer
351 views

Money deducted for pre authorization hold

I was in a hotel recently and they did a pre-authorization hold on the debit card. It was initially shown as real charge in my banking app, the hotel staff told me to not worry it's just a pre ...
ptts's user avatar
  • 121
0 votes
2 answers
342 views

Can I use a stamp to make mobile deposits for my LLC?

I have an LLC called "MrPeanut LLC." I am currently depositing all checks with a signed endorsement via my bank's mobile app as such: John A. Smith, Managing Member For mobile deposit to ...
MrPeanut's user avatar
  • 101
13 votes
3 answers
5k views

Why do escrow services use wire transfer?

Escrow services seem to typically require earnest money funds to be deposited via wire transfer. These days the wire transfer instructions will be surrounded by 50-point bold red text warning you that ...
user45623's user avatar
  • 529
3 votes
2 answers
829 views

What paperwork do I need to sell a car for $30k cash in New Jersey and deposit the proceeds into my bank account?

I am selling my car to an individual who wishes to purchase the car from me for 30k in cash. I asked for a check instead but they stated they only have cash. What sort of paperwork would I need to ...
Aceribus's user avatar
10 votes
3 answers
4k views

Why a bank would propose a depositor to invest part of their money to mutual funds, instead of bank doing it itself?

Currently, some banks in Greece propose their depositors (via financial consultants) to invest their money in foreign mutual funds. Their main argument is that deposit interest rates are close to zero ...
Marinos An's user avatar
3 votes
3 answers
804 views

Can my landlord live in a property I rent if I move out before the lease ends?

We moved out two months earlier than our lease ends, but are still fully prepared to keep paying rent until May. We were responsible for getting the lawn mowed, so I had my dad go mow it. While he was ...
Kylie's user avatar
  • 31
3 votes
6 answers
1k views

Deposit and lending real money

It is universal that banks use deposits for lending and make money in the form of interests. My query is if bank utilising the deposit for lending,why it isn't reflected in depositors account? Say for ...
Deepak Kumar's user avatar
1 vote
0 answers
99 views

The Military Junta in Myanmar tried to "empty" $1B from the NY Fed. As a deposit liability of the Fed, where would this money have actually gone? [closed]

https://www.reuters.com/article/idUSKCN2AW2MD?il=0 In the above article the Myanmar Military tried to "empty" the account belonging to the Myanmar Central Bank held at the NY Fed. This ...
pm2482's user avatar
  • 11
0 votes
1 answer
171 views

Am I entitled to get my car deposit back?

I recently put down a $1000 deposit on a vehicle that is at a dealership out of state. The vehicle that I put the deposit down on is “in transit” and is not technically on the lot. It’s been two ...
Brittney's user avatar
0 votes
2 answers
242 views

How many accounts can a scammer take money from? [duplicate]

Someone wants to give me a check over the internet to deposit into my account. If I have a checking and savings account, can they access both? or can they just get to one account?
letia's user avatar
  • 9
3 votes
1 answer
291 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 ...
Kris's user avatar
  • 31
0 votes
2 answers
264 views

Depositing a fairly large check, and privacy concerns

If someone deposits a large personal check (significantly more than their regular paycheck but less than $10k) into their personal checking account, is the bank allowed to ask any questions? Is the ...
nuggethead's user avatar
  • 2,059
2 votes
1 answer
138 views

Am I using the right method for this compound / simple interest problem with annual deposits?

I am trying to solve the following exercise: A bank account is opened at the beginning of the year 2013 by making a one-off deposit of £1000. A further deposit of £200 is made at the beginning of each ...
Ssandro_99's user avatar
4 votes
1 answer
170 views

What protection is offered to payment of 1 week holding deposit

I am based out of London, Great Britain. We came to the UK last month and are a bit in-experienced with the UK market. Me and my wife are currently viewing properties around the London area and came a ...
FoldedChromatin's user avatar
2 votes
1 answer
194 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 ...
mwex501's user avatar
  • 123
6 votes
3 answers
7k views

Depositing a check with both wife's and my name into my sole account

Not thinking, I deposited a check written out to both my wife and me into my sole account. The check seems to have cleared and it has been a few days since then. The check said "and" between ...
The Dude's user avatar
  • 169
2 votes
1 answer
731 views

If a check is written out to me, can I come with my boyfriend to have it deposited into his bank account?

We got a refund check and the dealership had put my name on the check. However, we need the money to go to my boyfriend's account. If I go up to the bank with him and explain that I want this check ...
Jessica's user avatar
  • 21
0 votes
1 answer
498 views

If online company wants to deposits money into my banking account and wants me to send it to back to there vendor is it a scam can i be responsible [duplicate]

Do business do interview on hangout, and then they want to send you money for software but needs all your online banking information? They sent me money through my cash app. They want me send it to ...
Sarah Mann's user avatar
0 votes
0 answers
82 views

What is going to happen in this situation?

My boyfriend's stimulus check came and I did a mobile deposit into my Wells Fargo account without having him endorse it. I understand what I did wrong and I know how to prevent problems in the future....
Ashley Miller's user avatar
-5 votes
2 answers
143 views

Compounding Interest

How to calculate compounding interest and maturity value of recurring deposit. e.g. Mr A deposit $ 1000 per month in bank @ 5% p.a. for 5 years. Interest compound quarterly. How t0 calculate maturity ...
Deveshkumar's user avatar
7 votes
3 answers
9k views

Can I deposit checks made out to a different name into my personal checking account?

Suppose my full legal name is Sam Sawyer Abraham and my wife's name is Sandra Connor Abraham. We would like to open a joint checking account at a bank in the USA. We will be depositing checks through ...
Saqib Ali's user avatar
  • 275
7 votes
2 answers
2k views

What are some drawbacks to Interac's e-transfer auto-deposit option?

As a user, what are the drawbacks for Interac e-transfer auto-deposit and what I should consider before using it?
user98094's user avatar
0 votes
2 answers
122 views

Does something like a "group deposit" exist?

What possibilities does a private person has to merge his capital (mostly stocks) with 2-3 more different private persons? Apart from having lesser transaction costs, which advantages or disadvantages ...
rantanplanthesecond's user avatar
4 votes
3 answers
26k views

I'm Canadian, but I've worked in the United States. Why did I get a $1,200 payment from the IRS?

I'm Canadian, but have been working in US 3 years 2015-2018 on TN visa. In 2018 I returned to Canada, filed IRS return for 2018, but didn't do it for 2019, because that year I didn't work in US. But ...
Alexan's user avatar
  • 740
0 votes
1 answer
272 views

What are potential downsides of asking back half of my rental deposit from the landlord?

I rented an apartment about 2.5 years ago. During this time, I was still a student and the landlord considered my income situation to not be entirely stable, so he asked me for twice the original ...
Charlie Shuffler's user avatar
0 votes
3 answers
1k views

ATM cash deposit verification

When I deposit cash with a bank employee, they look at it and I have never heard of the amount later getting changed due to mistake or counterfeits. If I deposit cash with an ATM which reads the ...
bobuhito's user avatar
  • 502
1 vote
2 answers
350 views

Deposit hold for over a month in Credit card

I have recently rented a car for about a month and one thing just came to my mind. At the rental office they took a very high deposit into my credit card (I have a foreign license, this happens in ...
Vicente Bolea's user avatar
0 votes
0 answers
104 views

What are the obstacles to for instantaneous deposits? [duplicate]

To add a bank account to Venmo, the user provides bank account number and Venmo makes two small deposits into the account. The user must verify that they have access to the account by indicating the ...
gatorback's user avatar
  • 269
2 votes
2 answers
171 views

Is it safe and smart to keep all your money in SAVINGS account in India? [closed]

I am a Software Engineer by profession and passion. I am facing problems with chosing how shall I invest my money. I have worked for 3 years now, and have around 40 lacs INR total earnings which I ...
maverick's user avatar
  • 267
1 vote
1 answer
2k views

Does the concept of Fixed Deposit exist in the U.S. for foreign nationals?

There exists a pretty simple concept of Fixed Deposits in India where some banks pay up to 7% return per annum with a good deal of flexiblity. This is a good option for those who want to have a ...
iamsumitd's user avatar
3 votes
1 answer
5k 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 ...
user1447679's user avatar
2 votes
3 answers
569 views

Chicago landlord opening security deposit account under tenant's name

I recently moved into an apartment in Chicago and sent my security deposit check to the landlord about 2 weeks before moving in. Now, 1 week after moving in (about 3 weeks after initially sending the ...
wearebob's user avatar
  • 123
31 votes
8 answers
12k views

Why would anyone ever invest in a cash-only etf?

I understand the benefits (and risks) of ETFs, and I also understand the benefits of a term deposit in a bank. I have seen that there are ETFs that essentially keep the investment in cash, that is, ...
Juan Antonio Gomez Moriano's user avatar
2 votes
3 answers
263 views

Other ways besides USPS/FedEx/etc to deposit LARGE checks into online banks?

Mobile Deposit is great and all, but most mobile apps have pretty low deposit limits. Even though Ally's limit is high ($50,000), checks can of course be higher. Thus, what's the alternative to ...
RonJohn's user avatar
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