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15

There is no legitimate reason for anyone to send money to you at a bank you don't have an account at There is no legitimate bank that is going to ask you to pay money in order to access money you have there. They might charge a fee for the transfer but that would come out of the transferred funds. No legitimate bank is going to ask you to make payments to a ...


9

You appear to be describing a rotating savings and credit association (ROSCA) (references: Wikipedia, Investopedia). These are not usually set up as a "game", but as an informal financial institution that acts as an alternative to banks (ask your colleagues to ascertain this). In effect, the winner of the lottery is given a loan (not a lottery ...


8

I just Googled "COT code", and you probably won't like it. The C.O.T. code stands for Cost of Transfer, which is allegedly needed to complete questionable international wire transfers, but please be wary, as this is most likely a scam.


5

It's an example of the concept of leverage. Suppose a $1M company is financed with $900K of debt (90%) and $100K of equity (10%). Then say the company's net assets increases by 5% (5% of $1M is $50K) due to normal operations (net profit). Since debt is unchanged at this point, that means that the company's equity (assets - liabilities) goes from $100K to $...


3

With Schwab I believe there is no minimum. For vanguard I believe they have a star fund that is $1000 https://clark.com/personal-finance-credit/vanguard-lowers-fund-minimums-1000/


3

All banks have a substantial online presence. Also all banks must be registered. For example, here is the list of banks and financial institutions in my country. If either of the above are not true then the "bank" is unquestionably a scam.


1

OK, so to answer your actual question: No, there is no way to arrange a Direct Debit without a UK bank account. I've explained in a comment that in her shoes I would contact the college and ask if there is any alternative to Direct Debit for non-UK-account-holders, however you've tried that and were told there is no other option. So, in that case she will ...


1

Most banks have no minimum, you can open an account with 1 cent if you care to. There are probably some banks that will not bother about clients under a certain limit, but obviously, every bank in the world makes their own decision about that.


1

In simple words, Non-Banking Financial Companies also know as NBFCs are establishments that provide financial services and banking facilities without meeting the legal definition of a bank. They are covered under the Banking regulations laid down by the Reserve Bank of India and provide banking services like loans, credit facilities, TFCs, retirement ...


1

If you have enough money at an institution, additional accounts are often free. As may folks noted, set up checking accounts that you use for deposit or electronic payment only. Once a week or so, log in and move any money from that account to your main or protected account. This is the process that is used by many large companies. PS: knowing what is ...


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