New answers tagged

0 votes

How is the IBAN created worldwide?

Which country does use IBAN? Which numbers/codes are needed to calculating the correct IBAN? Here (English) and here (German) you find the relevant info and a list of participating countries. Now, I ...
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1 vote

Bank loan related fraud in India

From the income tax point of view, I can tell you that the sale consideration for capital gains will be that 130% figure. So, 'A' may end up paying more income tax. And banks usually do property ...
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4 votes

Can I get a mortgage from a foreign bank?

Most likely NO If you are talking about a mortgage for a property (house or land), it is highly unlikely as the main security against your mortgage is the property and an oversea bank would have a ...
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0 votes

In which European countries do ATMs impose an extra surcharge for withdrawals?

Do ATMs impose an extra surcharge for withdrawals? In France, that depends on whether the ATM is owned by a French bank. https://wise.com/us/blog/atms-in-france: French banks don’t charge foreigners ...
6 votes

Why would I (with good credit and financial history) be denied while applying for a business checking account?

You're describing a situation where you're living outside the US (or at least, currently are outside the US, and don't get there often) and are trying to open an online business account for a brand ...
  • 143k
1 vote
Accepted

Transfer of money between two international euro accounts

This is guaranteed to work exactly the same as domestic transfers. The Single Euro Payment Area (SEPA) makes all payments in euros in and between participating states (all of EU, EFTA, the UK, and ...
  • 788
8 votes
Accepted

Does a retail brand (e.g. Walmart or a regional coffee chain) have one Merchant ID per location, or just one for all of its locations?

There are no rules on the matter and different companies operate in different ways. It can be per location, per business entity, broken down based on some internal organizational boundaries, or you ...
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-2 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

Almost all the answers given to this question are ludicrous, because they depend on the notion that one must compute the set of strings describing a number that cannot be modified into different valid ...
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2 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

Does the recipient have a case for getting their fee reimbursed? IMHO, yes. If not from the bank, then from you. I believe the fee is mostly to deter fraud attempts. If the check was deposited at a ...
  • 46.9k
13 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

If your words aren't completely clear, the only reasonable thing the bank can do is ask you to write the check again. And as has been pointed out, the example given is less unambiguous than the OP ...
  • 34.6k
0 votes

Why do people still write checks as payments in stores?

Another that I'm not sure has been mentioned: Physical proof of the transaction. In the old days, the banks returned your cashed checks so you had proof the payment had been accepted. Now, they ...
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25 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

The reason it needs to be, in your words, "proper" is that it is a legal, financial, contractual transaction, free from ambiguity. Much as you like casualness, this is not the place for it. ...
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41 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

Suppose you write me a cheque for "thirty four ninety five" and fill in the numeric amount as $34.95. I could easily add "and 0/100" to the end of the written amount, connect your ...
1 vote

Why do people still write checks as payments in stores?

Despite the legal protections afforded to debit card users, there remain safety concerns that don't exist with credit cards. While credit card fraud can create short term hassle, the hassle from ...
5 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

In the US there is a specific way of writing the "legal amount", i.e. the amount spelled out in English, on a check. The Code of Federal Regulations (31 CFR 240, I think it is) is pretty ...
-1 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

Call me a cynic but... If the bank is allowed to charge a fee for rejecting a cheque, they're going to look for any excuse to reject a cheque. In this case, you've not written a real number. Whilst it'...
117 votes

I wrote a check with an unambiguous but casual written amount - why did the recipient's bank reject it for "invalid written amount"?

"thirty four ninety five" is not a number. How many currency did you want to pay? Thirty four? Ninety Five? Thirty four hundreds and ninety five cents? Maybe someone else added the "and ...
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