New answers tagged

1

This depends on the business model of Bank A. You can, today, walk into check cashing, payday loan, or money transfer businesses such as Western Union, present a check made out to yourself, satisfy their identity requirements, perhaps build in time lag for the check to clear for the transfer to occur, give them details for your account at bank B, and ...


0

In about 2013, wanted (in the UK) to do exactly this for someone living in the USA who had a UK bank account. The branch where the account was nominally held refused to allow the cheque to be paid in. I did not have a paying-in slip but did have all the account details. The reason? I could not produce ID and paperwork to prove I had the right to pay in ...


8

Bottom line: it's of no advantage to Bank A to allow you to do this (at least, without charging a fee). As Fattie points out in comments, another potential issue is Bank A not knowing any details of Bob's account with Bank B. At least in the UK, there are – at least in principle – ways around this, although I don't know whether any of these ways currently (...


3

It will work in only a very limited set of circumstances. But can I go to Bank A and have them deposit the check into my account at Bank B? If not, why not? In the United States most credit unions are small, they only have a handful of branches. But there are also places known as credit union Service centers. They can actually tap into the accounts of ...


16

If not, why not? Because this is simply not how checks work. There is historical setup, carried over time, and if you want to deposit money FROM bank A into an account on Bank B you do not use a check, you use a direct transfer which is more common in most countries anyway.


0

No it is not a scam. The funds are still there. They say that due to FATCA, they have no collaboration with my country. I can get a check, but still would have to cash it in a US Bank, and they can't send abroad. I have seen others face the same problem. Like the following https://www.trade2win.com/threads/td-ameritrade-withdrawal-issues.142204/


0

It's important to choose a lender who can support you with the right guidance, and terms throughout the life of your loan. The following 5 things should be always at the top of your mind when you're trying to find a lender you can trust to work with you for the foreseeable future. Experience/Credibility: You need someone who isn't going to dupe you into ...


1

Is there any guarantee from the Open Banking rules that have been put in place that will make my bank provide me with APIs to access my own personal banking data? No there is not. The Open Banking initiative is designed to make it easier for large companies that are individually assessed and accredited by the ACCC to share data (eg allowing mortgage brokers ...


0

"but they could not wire it to a non US bank" This is completely strange and bizarre. They can and should send it anywhere you want. At worst - get a cheque. Are you sure this isn't some scam?


0

As for why they have customers: people pay for all sorts of services that don't provide much value, simply because marketers pimp the services and try to create the illusion that they do provide value. People pay for insurance on appliances, psychic readings, and snake-oil "expert" advice on all sorts of matters, all of which is mostly hokum, but ...


0

And now I bet somebody will say "SOME managed funds do beat the market, just look at A, B, and C", yeah buddy that's called survivorship bias. Come back in 5 years and we'll be talking about fund x, Y, and Z. Well that's the answer. Fund X, Y and Z have different investors, individuals that were betting that the fund they participate in will beat ...


0

Here is one thing noone tells you so far in the answer: Because they CAN. It may be hard, but there are a TON of people on the planet. Some are the best. They work on that for tons of money. Done. See, "if it is so hard to be a tennis pro, why do people do it"? Because SOME ARE THE BEST and those get paid BIG BUGS. Have you seen what high level ...


1

We had a question on this site just a few days ago: Why buy index funds when they are guaranteed to underperform their index? The usual argument is that it is difficult for individual investors to beat stock market indexes. I don't understand this defeatist attitude. As far as I am aware, buying index funds guarantees defeat; it guarantees underperformance ...


1

The Ethereum network does allow bankless banking, but do notice that the Ether functions more like fuel to do other things on the network, so you don't need much Ether, only refilling occasionally to continue using what you need. A common way to do bankless banking is to use a form of digital assets that exist on the Ethereum network called "stablecoins&...


0

Aaron, do not get scared by other answers. Obviously there are risks involved, but you can manage it if you are cautious and watchful. Note that fairly nobody is using checks in Europe anymore. Everything's done here via SWIFT, SEPA or local domestic transfers. All banks support all three methods while the local one is usually free of charge. I live in ...


0

What you also should consider is, that in Switzerland the local currency is the Swiss franc and not the Euro. So the Euro is foreign currency there as well, that would kinda eliminate what you want to do to a certain degree. If you want to get Swiss francs that would maybe help. Also the (total) privacy of swiss bank accounts is mostly history, especially if ...


2

One point I have since discovered, is that a 'mobile only' experience sucks if you lose your phone/stop using a smart phone. It means you can't easily see your balance, can't transfer money out/between accounts. So strongly recommend not using a 'mobile only' bank as your primary bank account that your salary is paid into.


0

Ask the bank what alternate ID they will accept if there is a mismatch in the information on the standard ID and the information on your bank account. There is always a mismatch in address information when moving. The organization that issues the ID can want you to provide proof that you live there by providing a bill that was delivered to your house, but ...


1

You can't have 2 debit cards, it's likely that either the first one has expired or you have requested an upgrade, you have a new debit card. The limit on the new card will apply.


4

Just because a stock trades below your buy price does not mean that it should or always would get filled. A possible reason that a trade does not execute is that the B/A spread is very wide. Suppose you have a buy order for $100 and the stock is above this price all day. The stock then drops to $99.80 x $100.10. Your limit order will not execute because ...


3

My advice: ask the bank if your UK NINO is acceptable for the TIN. The European Commission Tax Information Numbers Country Sheet for the United Kingdom says "The United Kingdom does not issue TINs in a strict sense, but it does have two TIN-like numbers, which are not reported on official documents of identification: 1. The most recent quasi TIN is the ...


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