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18

It's a scam. It's your account, you are responsible for it. She will send money from some illegal source, like a hacked bank account, or a stolen check. The money appears in your account, say $1,000. You return some part of it to her, say $500. A month later the bank figures out that there was something wrong with the $1,000 and removes it. Now your ...


13

You said that this individual was going to test you, and then... asked me to start by sending $29 to his account managers payapl so he would have my information, am right to think this is a scam? Regardless of if this is a scam or not (although it almost certainly is), that's not at all how PayPal works. If someone wants to send you money, all they need ...


9

You asked, Are banks in the EU allowed to charge fees for having too low of a balance? I'm not asking about overdraft fees like 20% annually for how much below zero your balance is. I'm asking about either non-relative charges (like 20 EUR for having a balance below 100 EUR or below -1000 EUR) or charges for a balance that's low but not below zero (like ...


5

I was finally able to get information from a bank representative. This is related to Republic Act 9160 or the Anti-Money Laundering Act (AMLA). Banks and other financial institutions are mandated to institute “know your customer” (KYC) rules that ensure the legitimate source of funds.


4

First, check the account’s terms and conditions regarding interest payments. Some don’t pay interest if you make a withdrawal that period. Others require a deposit in addition to no withdrawals. Regardless of the ‘gotchas’, they should also tell you on what basis interest is earned. It could be the minimum balance that period. It could be the minimum ...


4

The easiest way I have found is to simply Google the transaction description, or at least the most unique part of it. Googling "PO LTD Telecoms" gives the UK Post Office phone/internet "contact us" page as the first result. Google is sometimes really smart at figuring out what appears to us as a random collection of characters. Beyond that, there are a ...


4

Your question states that the country is the United States. You also seem confident that the question actually comes from your bank and not a potential scammer, but, as others have stated, best to make absolutely sure of this by asking your bank directly, ideally in person. I've had bank accounts for decades, and never been asked, under threat of closing ...


4

The FDIC publishes its rates if you want to get into the nitty gritty details. Broadly speaking, rates are determined by the amount of deposits an institution holds and the riskiness of the bank. If you want to determine what any particular bank would get charged, though, it would require a fair amount of analysis because there are adjustments in addition ...


4

IBAN is an european concept (some others have adopted IBAN aswell) and american accounts dont have IBANs yet (https://en.m.wikipedia.org/wiki/International_Bank_Account_Number). The IBAN starts with a two letter country code - this tells you where the account is located (e.g. DE for Germany or GB for the UK). For US transfers you should just need to give ...


3

so her dad could send her some money One word: PayPal. Another word: Zelle. Yet another word: Xoom. A fourth word(s): Western Union.


1

Most Bank employees can't see that info In most banks there is a team that is in charge of tracking deposits that reach a threshold, in the case that you define, they need to verify that the money that you deposit in your account is legal. Depending in the laws in your country the bank will demand for evidence in the regard of from where it came? why do ...


1

To complement dwizum's answer, in my experience, totally free accounts are uncommon in Europe. Every account I've had charges some small monthly or quarterly maintenance fee regardless of the balance.


1

This sounds very much like a scam to steal your banking information. I would call your bank directly or visit a local branch. Do not call or contact them using only the information in the email. It is very possible the email isn't from your bank, it is someone trying to trick you into giving up personal information.


1

I don't think that any bank will issue a credit card solely to a minor (I suspect it isn't legal, but they wouldn't want an unsecured debt against a minor anyway). One option that I've seen is to open a joint credit card account with them with a low maximum (https://www.creditcards.com/credit-card-news/what-is-the-minimum-age-to-be-an-authorized-user.php ...


1

Each participating bank (at least sender and receiver, maybe more) takes a fee. The sender of the money tells his bank how he wants the fees treated: 'sender pays it all' - this results in the sending bank taking a flat rate chunk of money, and paying all fees through the chain 'receiver pays it all' - this results in the receiver bank taking a flat rate ...


1

All the banks I have dealt with don't do the calculations as described in the answers by Lawrence and Ross Millikan but use a simplified method that works as follows. If the interest rate (APR) is, say, 0.24% per annum compounded monthly, then the amount of interest credited to the account at the end of the month is the average daily balance during the past ...


1

A typical approach is to compute interest daily on the balance of the account. You can make a spreadsheet that computes this. For each day, compute the interest from the previous day by multiplying the balance by 0.25%/365 (or 360 depending on the bank). Apply whatever rounding process the bank uses to get rid of fractional pennies. Then apply the day's ...


1

Doubtful, as the bank can't give you what they don't have. Many businesses have their credit card agreements running under slightly different, misspelled, abbreviated, or outdated names, and don't bother to ever change them. I know many mom-n-pop shops where the credit card charges appear under the name of the business that closed fifteen years before in ...


1

In a 501(c) club I know, they are ordering normal Debit Cards for their 'small business account', and set the withdrawal and purchase limits online to 0.00. That has worked fine for years, and is free because the average money in the account is above 3000 (although the users are typically not trying to game the system).


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