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What happens when you receive a crossed cheque and you have no bank account?
open a bank account.
What happens when the bank closes your account?
if bank closes yr account,it gets closed,or dead.
Can a bank close a bank account if you default on a loan with that bank?
They can but usually they leave it open but make it inacessable because they can keep it on your credit until its resolved. It is in your best intrest to close the account as soon as possible to allow the seven years it can be on your credit clock start ticking.
What happens to a joint bank account when the the primary is the now deceased mother and the joint account holder is a daughter and In this case there is no will can they do anything?
The daughter now owns the bank account and everything in it.
Can your bank put a block on your checking account?
Yes, banks have the ability to put a block on a checking account. This usually happens in cases of suspected fraudulent activity, concerns about account security, or court orders. Blocking the account prohibits any transactions from taking place until the issue is resolved.
What happens if you do not close your bank account balance is fall than minimum?
nothing will happen you can put some more money in the bank account to resume it
What happens when money is deposited in account is it credited or debited?
deposited money is credited to your concern bank account
What happens when the bank puts a deposit in the wrong account?
They will research it, and if the deposit was put into the wrong account they will debit the account it was put into and credit the account it was supposed to go into. It is important you fill out your deposit slip accurately because that is the record of where it should have gone. If that happens, all parties involved will be notified by the bank. The bank will revert the transaction if the mistake was on their part. If the incorrect transfer happened because of the customers mistake in providing accurate account numbers, the bank would not revert the transaction.
Is a checking account reported to the government?
Yes. As per the government regulations, all bank account transactions beyond a certain amount are reported to the Government. For ex: in USA, if a deposit of over $5000 happens in an account, the bank has to intimate the Government. Similarly in India, if a deposit of over Rs. 50,000 happens in an account, the bank has to intimate the Government.
If you have a frozen bank account and continue to write checks what happens?
The checks will bounce.
Can a bank transfer money from one account to another without permission?
No. A bank cannot do that. A bank cannot transfer money from one account to another without prior approval or permission from the account holder from whose account money is going to be taken. If such a thing happens, the affected customer can sue the bank.
Can a deceased person earn dividends on a bank account?
The estate can earn dividends on a bank account. The executor is responsible for making sure this happens and it gets included in the estate.
