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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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41 votes
4 answers
53k views

Accidentally cashed a check twice

I got a loan from a company, it was a paper check that i had received the check in April. I found the check today, un-signed, no void notes. I figured I hadn’t cashed it in considering it wasn’t even ...
bbscutt's user avatar
  • 411
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
35 votes
5 answers
12k views

What are the advantages of a Swiss bank account?

I've heard about bank accounts in Zurich / Switzerland, but I don't fully understand the unique advantages of swiss bank accounts. What I do believe about these (but don't know for sure): They accept ...
user145's user avatar
  • 523
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
30 votes
6 answers
7k views

Bank rotation to exploit promotional deposit rates for new funds

Banks in my country often offer deposits with promotional rates for new funds - calculated as funds exceeding amount accumulated on selected date. Now there are several banks practicing such ...
AGrzes's user avatar
  • 461
29 votes
6 answers
14k views

What, if any, are the downsides of direct deposit?

After many years, my employer is offering direct deposit. I've used direct deposit before at other jobs. Are there any downsides or cons to using direct deposit?
Matthew Rodatus's user avatar
20 votes
9 answers
2k views

Investing small amounts at regular intervals while minimizing fees?

My daughter is about to turn one year old and I'd like to start some sort of investment account for her. The purpose would be to invest her birthday and gift money into the stock market each year. I'd ...
user70192's user avatar
  • 355
18 votes
4 answers
25k views

Will depositing $10k+ checks each month raise red flags with the IRS?

I am a freelancer that runs a small design business (LLC) and I have one client in particular that I regularly do more than $10k per month worth of business with. Sometimes I'll deposit a check for $...
Kevin's user avatar
  • 189
15 votes
3 answers
62k views

Calculate Future Value with Recurring Deposits

I am familiar with the formula for calculating FV and compound interest of a deposit, but I am wondering if there is a formula that will allow me to calculate how much money I will have after ...
ColorWP's user avatar
  • 151
14 votes
1 answer
6k views

Can a foreign bank manager name me as the kin of a deceased customer if I don't know the person?

A few days ago, someone emailed me and said he is the branch manager of an overseas bank. He asked me to join him in an agreement. He has a deceased customer who is a citizen of my country and who has ...
nunu's user avatar
  • 299
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
13 votes
7 answers
291k views

How can I have someone deposit a check for me?

I'm currently out of US territory, someone needs to pay me, so he made a check to me, with my name and CHASE account number on it, of course. Can I ask some other friend to go and deposit that check ...
andres's user avatar
  • 133
13 votes
5 answers
5k views

Is the money that you get back from deposits or rebates taxable?

Please help me understand if the following two items are taxable or if they should be included at all on the tax report: Rent deposit. A few years ago, when I moved in my previous apartment I put a ...
Jason F's user avatar
  • 133
11 votes
4 answers
8k views

Will change of address affect direct deposit?

A direct deposit from my employer hasn't made it into my account yet but should have by now. I have a copy of the paystub which has my previous address (I just moved.) Could this be a reason for it ...
Rich's user avatar
  • 1,749
11 votes
3 answers
3k views

Why is deposit interest rate in the same currency different from country to country? [duplicate]

My bank offers 11% interest rate for 1-year deposit in USD. This is similar to what other Ukrainian banks offer but much higher in comparison with our neighboring countries, Belarus (3.5%) and Poland (...
Pavlo's user avatar
  • 219
11 votes
6 answers
76k views

Are there special endorsement requirements for US Government checks to two parties?

At a bank where I have a checking account in my name only, I regularly cash a dividend check made out to my wife AND me. My wife endorses the check at home and then I stroll down to the bank and add ...
Ast Pace's user avatar
  • 297
11 votes
2 answers
34k views

US Bank placing a hold on funds from my paycheck deposit: Why does that make sense?

I've just received my first paycheck in four months (yay!). In the meantime, my bank account went about $150 negative. That's one of the reasons I deposited my paycheck into that bank account - I ...
John Saunders'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
10 votes
6 answers
228k views

How can I deposit a check made out to my business into my personal account?

When I invoiced this company, my invoice specifically said to make it payable to me personally, not my business (since I don't have a business account besides PayPal). Unfortunately, they made it out ...
Joseph's user avatar
  • 283
9 votes
3 answers
70k views

Can my significant other deposit a check made out to me?

We share a bank account; if the check is made out to me personally, can I have my other half run it to the ATM while I'm at work? Also, is it legal to do so?
Yamikuronue's user avatar
  • 1,319
9 votes
2 answers
7k views

Is it possible to deposit checks into our Chase checking from another bank's ATM?

My family uses Chase for banking. However, after moving, we can't find a Chase bank or ATM anywhere near us. When we have checks that we want to deposit, can we use the ATM from another bank to do ...
000000000000000000000's user avatar
9 votes
2 answers
377 views

How and where can I deposit money to generate future payments / income?

My Question. What do I deposit now, today, to pay myself $300.00 per week,i.e. $15,600.00 annually at 5% interest for 10 years? What kind of or type of financial institution do I deposit the in? A few ...
user avatar
9 votes
2 answers
252 views

Can I recover my deposit (for a future purchase) from a company whose assets are frozen?

We recently paid a catering company $1400 as a deposit for our upcoming wedding. The company was highly recommended by a number of previous clients and had been in business for over a decade. Then ...
user4323's user avatar
9 votes
2 answers
17k views

As a regular person, can I perform/simulate a direct deposit?

As a regular person (not a bank or an employer or any such thing), can I take some money I have on hand and perform a direct deposit into a bank account for which I have all the necessary details? ...
senshin's user avatar
  • 549
8 votes
5 answers
60k views

Are bank account numbers unique?

If somebody sends me money and I write the swift code wrong, will the money go somewhere else? I know bank account numbers are unique within a bank, but will are they unique globally? Update: I ...
user4951's user avatar
  • 1,063
8 votes
2 answers
950 views

what are the pros and cons of structured deposits?

This morning, I came across the term, structured deposits. As I am still learning about finance, I am quite curious on different types of deposits. In layman's terms, What is a Structured Deposit? ...
kitokid's user avatar
  • 961
8 votes
2 answers
401 views

moving family deposits away from Greece (possibly in UK)

Me and my family are worried about the current financial situation in Greece and want to move our deposits away to an another more stable country. Is this too much? We've seen other people doing it. ...
Dimitrios Mistriotis's user avatar
8 votes
2 answers
7k views

Is it possible to reject a direct deposit?

I received a direct deposit on my bank account (in the US): is it possible to reject it?
Franck Dernoncourt's user avatar
7 votes
6 answers
17k 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
7 votes
3 answers
10k 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
7 votes
2 answers
1k views

How does bank deposit insurance work in Singapore?

When I check bank web sites in Singapore, they usually post something like below: Singapore dollar deposits of non-bank depositors and monies and deposits denominated in Singapore dollars under ...
kitokid's user avatar
  • 961
7 votes
1 answer
157 views

Can I get my payment back on a vacation booked with a company that went into receivership?

My friend booked a summer vacation with a resort/inn located in Ontario that has just gone into receivership. She paid in FULL with a credit card about a month ago. Is there any way to get her ...
Nat_Rea's user avatar
  • 8,683
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
6 votes
3 answers
123k views

Deposit money to credit card

Let's say I know a credit card number and the card doesn't belong to me, can I deposit money on that credit card? The receiver will not object getting extra money. But is this possible and how you do ...
user14742's user avatar
  • 171
6 votes
2 answers
523 views

Should I try to hedge my emergency savings against currency and political concerns?

I'm planning to save 15% of my income for emergencies. I live in Ukraine and I am concerned that the local currency may not be stable long-term. I'm also worried about the possibility of banks closing....
greyd.omh's user avatar
5 votes
4 answers
12k views

Does a bank have to tell me if a check made out to me was cashed there?

I moved out of a place and I was supposed to receive my last pay check there. I think my housemate deposited it in his account. I know banks are not supposed to, but it's in a small town so people ...
Elijah Ratliff's user avatar
5 votes
1 answer
4k views

If I default on my mortgage do I get my deposit back as a % of the sale of the property?

Say I put down 50% deposit on a house (in the UK), and the other 50% is provided through a mortgage, what happens if I default? Does the bank walk away with the property and the potential of selling ...
jaffa's user avatar
  • 291
5 votes
3 answers
10k views

Why do banks have daily deposit limits for check deposits with app?

I have a bunch of accounts at Fidelity and use their app to deposit checks on my phone. Each account has a daily deposit limit that is based on a number of factors, but the most important appears to ...
minou's user avatar
  • 7,536
5 votes
4 answers
7k views

Why do almost all U.S. banks have a Salt Lake City P.O. box for accepting deposits?

Title says it all. A Google search for "bank salt lake city po box" shows that many banks/CUs (Discover, Capital One, AMEX FSB, Schwab, etc...) accept deposits at a P.O. box in Salt Lake City. Why ...
Navin's user avatar
  • 228
5 votes
2 answers
388 views

Direct Deposit in Shared Account

My boyfriend has asked me to help manage his money. We are looking into opening a new bank account where his checks will be direct deposited into the account and I'll give him a weekly allowance of ...
Nico's user avatar
  • 59
5 votes
1 answer
565 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
5 votes
1 answer
304 views

Which jurisdictions levy a tax on depositum irregulare?

Depositum irregulare arises when a person deposits a certain amount of money or goods to be temporarily kept by another person, who is obliged to return the same amount and type of money or goods, but ...
ria's user avatar
  • 635
5 votes
1 answer
4k views

How long do direct deposits take to go through?

eBay listed the status as "paid" last Friday for some sales I'd made, and that it would be deposited to the bank account I have on file. It's Monday and I haven't seen any changes in my online ...
Corey's user avatar
  • 825
5 votes
1 answer
162 views

National deposit guarantee schemes

I am just checking this FinTech startup called Raisin (previously SavingGlobal) where they advertise that you can make deposits on banks across Europe. They say, that each deposit is 100% covered by ...
Jernej Jerin's user avatar
4 votes
3 answers
6k views

Checks made out to multiple parties with 'and'. How can I deposit it with one signature?

I am receiving payments from a lawsuit in my favor, with three other plaintiffs. The payments we are receiving are personal checks, made out to all off the plaintiffs with 'and' joining the names. ...
Mustard's user avatar
  • 143
4 votes
2 answers
1k views

What is the proper way to hold a subtenant's rental deposit?

I have recently leased an apartment with a friend, and we've subletted out a room to another girl and collected her security deposit. I want to store it in a savings account without touching it, but ...
Bigbio2002's user avatar
  • 1,299
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
4 votes
4 answers
28k views

How can someone else deposit my unendorsed paychecks?

I am traveling in Europe and I have my US clients send my paychecks to my parents' address in the states. Is there anyway I can get these paychecks deposited? The best idea I have is for my Mom to ...
Ryan's user avatar
  • 241
4 votes
2 answers
311 views

Investing in stocks & shares ISA- when to make deposits?

To start with, let me say that I am very new to investing- have no prior experience of it... Last year, I opened a stocks & shares ISA for the first time (it is a Lifetime ISA), and my intention ...
Noble-Surfer's user avatar