New answers tagged

1

You will almost certainly find it much easier to open an account in India with a bank that also operates in North America, and they should provide services that will meet any legitimate need that you have for a US bank account.


2

This is all from a US perspective. I lived in Canada for a long time, but most of my complicated banking experience is based on my 30 years in the states I think @bta has a good answer as to why the bank reacted to your pleas the way they did. If someone forges your name on a check, then the correct response is to go to the police. The bank will furnish ...


2

To answer the question as posed: There is a trade-off where more stringent policies will cause people to use the services of the bank less, resulting in lower profits for the bank. Why else should credit card security remain so laughably bad, where you basically give a third party all the information necessary to withdraw as much money as they want from your ...


27

I asked for the account number or name of the entity on that account, and they refused to give me that information. If the transfer was made directly from the card to the destination account, then the destination account should be on the transaction record for the card. Asking the bank for this is suspicious. The account owner would have that information ...


113

As well as the privacy reasons cited in the other answer, and the inability of the banks to conduct their own criminal investigation, there is another very important reason why the banks will not share their investigation with you. The most common kind of fraud is first party fraud.1 This is the kind of fraud where you get your girlfriend to transfer money ...


24

I understand your frustration at feeling as though banks may not care about fraud, but they do. You have to realize though that there are limits to what they can do. It is up to the police or other authorities to pursue criminal investigations, and to the extent the local laws allow it (in most jurisdictions even the police need warrants or court orders to ...


1

What is the purpose of budgeting if all I need to do is look at my bank/credit card statement? It depends. Economy is about using scarse resources wisely. If your projected income is way above your projected costs for all future, there is less reason for budgeting. Plan your future costs by dividing planned costs into categories. Evaluate if your income ...


2

Pardon the nitpick, but the semantics of your question are a bit confused. The definition of "budget" (as a noun and verb respectively) is (emphasis mine): an estimate, often itemized, of expected income and expense for a given period in the future. to plan allotment of (funds, time, etc.). Features like statements and recent transaction ...


0

A budget is a set of buckets which you (plan to, typically via a pay check) pour sand (aka money) into on a periodic basis, and (plan to) shovel sand (aka money) out of at other times. The purpose of a budget is to ensure that you have enough "sand" in each bucket when it's time to shovel the sand out, without having to borrow sand from someone ...


2

Is the actual benefit from grouping purchases into categories and then seeing which areas you should stop spending as much on? Maybe, though it may help to instead think about which categories you should spend more on. If you use a double-entry accounting method, every dollar is accounted for, and so conceptually it's the same, since you are shifting which ...


-1

That's like asking "why do I need a GPS if I have an odometer?" Your credit card and bank statements tell you what you did in the past, but your budget specifies what you want to do in the future.


34

I'm going to provide an answer that is somewhat of a devil's advocate. Disclaimer: I personally don't have a budget beyond some very loose guidelines (e.g. always spend money carefully, and never indulgently). I believe there are 2 criteria that you can meet that enable you to forego following a budget: Your expenses are flexible enough, and your income ...


5

Budgeting is almost entirely psychological. If you are the sort of person who basically spends every paycheck as soon as it's deposited (if not before), and you want to accumulate some savings, then you need budgeting to see where you've been spending the money. That's where the grouping into categories comes in. Then, as others have said, you need to ...


13

That's like saying "I know where I just came from, so why worry about where I am going or how I got here?" (grin) Budgeting is figuring out a) how well you managed your spending in the past and, b) what to do with money in the future. What you've done with money historically has little to do with how you'll spend it going forward. Budgeting is ...


21

What you described is looking into your spending history, which is not budgeting. Budgeting is planning for future spending, and for reviewing your past plans with your actual spending. Why do you budget? Avoid paycheck-to-paycheck. If you earned 100$ in January for example, you budget the 100$ for February. Prepare for the upcoming spending. Need a big ...


54

It is simple: you need budgeting to plan your smaller and bigger future expenses (and savings). Here some examples: I planned a budget of $100 per month ($1200 per year) for car maintenance and repairs . This money goes into another bank account. Over the last years i never needed more than this amount for yearly maintenance, new tires and surprise repairs ...


18

Budgeting is the act of setting amounts, allocating money to various activities and keeping tabs on where your money is going, understanding if or where you can make compromises when you have to react to something unexpected. The mechanics of collecting the spend data (card statements) or income (payslip) is not budgeting as such.


0

From what I could find, it looks as though a "scheme account" is one used for specialized savings and investment. Here's a link to a PDF from the Nepal Stock Exchange that discusses various types of scheme accounts: http://www.nepalstock.com/uploads/files/company/0e5687cca988da721eb1852ec22b1f4d.pdf Hope this is what you're looking for. Good luck!...


2

Back in the '70s banks would offer savings products whose "contract rate" would not be an entirely straightforward representation what sort of interest you'd get. As a result Congress passed the Truth in Savings Act to create the APY and require financial institutions to use it in advertising. A savings account pays money to the depositor according ...


1

Where did the "17 days" come from? The bank evidently paid you interest for 18 days. $3000 * 0.0393 * 18/365 = $5.814 which rounds to your exact payout.


2

I can confirm the Apple part. It's the same information as what I've been using for many years, ever since they "moved" from Luxembourg to Ireland. As for Google, the bank account indeed belongs to Google Payment Ireland Limited. But to my best knowledge (found using a certain search engine) their VAT number is IE 3463004VH (confirmed using this ...


7

Any such deal that doesn’t involve cash payments is a scam. Zero exceptions. There is absolutely no way a genuine sugar daddy would need you to create an account. And I don’t know what you think a sugar daddy wants you for, but it involves meeting you and exchanging services for cash.


Top 50 recent answers are included