0
What does the term irrevocable mean in a bank or checking account?
Wiki User
∙ 14y ago
In the context of a bank or checking account, "irrevocable" means that the actions or decisions associated with the account cannot be undone or reversed. For example, if a transaction or transfer is marked as irrevocable, it cannot be cancelled or revoked once it has been initiated. This term is used to indicate that the action is final and cannot be changed.
Wiki User
∙ 14y ago'Irrevocable' generally refers to trusts and not to bank accounts. In your case it could signify that the account is owned by an irrevocable trust.
Add your answer:
Earn +20 pts
What does it mean to reconcile your checking account?
It means to make sure the numbers the bank statement has matches what you have.
What does dda mean in ATM transfer to dda number?
DDA stands for demand deposit account. It is a bank account in which you can deposit and withdraw money. A form of a demand deposit account is a checking account.
What does it mean when a checking account is locked due to too many failed login attempts?
It does not really mean that the checking account is locked-- you can still write checks provided you have sufficient funds in your account. What it does mean is that you cannot access it on-line. What you have to do to fix it depends on the bank. You may have to call them or you may be able to request your password via e-mail.
What does signatory mean on a checking account?
Signatory means that the person who owns the checking account has signed something linked to the checking account. This could be a document or a check.
Does the adirondack bank in New York use check systems?
If by check systems you mean checking accounts then yes I have a personal checking account with Adirondack Bank so I can verify that they do. You can also find more information on their website at https://www.adirondackbank.com/
What is the deduction made by a bank for handling a checking account?
The deduction made by a bank for handling a checking account is typically referred to as a monthly maintenance fee. This fee covers the costs associated with maintaining the account, such as processing transactions, providing customer support, and managing the account infrastructure. The specific amount of the fee varies by bank and account type.
How much money is needed to open a bank?
Its good to have at least $250,000 depending on how big the bank is. Local or international. Answer If you mean bank account, then none. Some banks will charge you if you have less than $100 in your savings account. But most checking accounts are free.
What is mean by intra banking transaction?
"Intra" means within, as in a transfer within the bank. Your bank may have an agreement where you designate your accounts to and from which funds may go. A checking and savings account at the same bank are examples.
You had received a return item charge back on your bank of America checking account what what does this mean?
how does a person that has a good account receive a charge back on a bofa account--what is this i mean i did receive the ATM card with a valid access checking account--with the bank i use good checks that I've had for 15yrs with 1 bounced check--i mean the check was good enought to open the acount--i have several professional task that allow me to make an ok amount of money(cash) the monry is difenitely in the account--i also work with the bank--whee i issued a check for $25.00 to open the account-- please explain this.. whon@californiahighwaypatrol.com 295@chp.com
What does ITF internal transfer of funds mean on a bank account?
what does itf mean on a bank account
What does relationship bank account mean?
A relationship bank account does not use money...
What overdrawing your checking account mean?
This means you have attempted to withdraw more money than you have in the bank account. For some banks it could be a result of a recent depost being held so the funds are not available to you.
