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no you have to have an open account
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What is the accounting treatment of saving deposit in closed bank?
Even if the account is closed, the cash inside of the account is still considered an asset and no accounting entries are necessary. If a new account is opened, the new account is debited the cash balance and the old account is credited.
Can you still deposit to your account even if a haven't deposit since last year?
yes, as long you maintained the minimum maintaining balance, a bank required, there will be no bank charges deduction on your account, because 1 year of no depositor/s transactions means dormat account. If, minimum maintaining balance was not met, then your bank charged you of dormancy, then your account might be closed, and you cannot deposit any. Ask your bank about your balance.
Can you deposit a business check to your personal account?
No, you cannot deposit a business check into a personal checking account. You can only deposit a check into an account that shares the same name, i.e. A check is made out to ABC company--it can only be deposited into an account that is titled ABC company. It cannot be deposited into a personal account--even if that is the personal account of the owner.
What is the initial deposit to open an account?
It depends on the type of account and facilities provided. In India, for a savings account it is either Rs. 500/- or Rs. 1000/- There are even banks that ask for Rs. 5000/- as initial deposit for the features they provide.
Which banks in Wachovia offer a free checking account?
All Wachovia Banks offer free checking accounts. They are even offering a $50 bonus for opening a new free checking account. The accounts have no monthly service fee, no minimum balance and no direct deposit requirement.
Can your employer access your checking account?
No. He cannot access your checking account to view the balance or to withdraw money. However, he will be able to access your account to credit your monthly paycheck or salary through direct deposit. Even during direct deposit, he wouldn't be directly accessing your checking account. Instead, his bank would be doing that by means of direct deposit instructions to your bank.
What is the accounting treatment of saving deposit in closed bank?
Even if the account is closed, the cash inside of the account is still considered an asset and no accounting entries are necessary. If a new account is opened, the new account is debited the cash balance and the old account is credited.
Can you deposit money into a surrogate account that was set up for you when you were a minor even though you are no longer a minor?
So long as you have the account details, (sort code, account number etc) and the account is still 'live' (ie - hasn't been closed) then yes !
Can i delete my videos On YouTube after i closed my account?
If you closed your account, then your videos won't even be on youtube anymore. i closed it today .. and i was shocked to see my videos still on .. !! even my friend .. closed his account and the videos are still On !!
Can you still deposit to your account even if a haven't deposit since last year?
yes, as long you maintained the minimum maintaining balance, a bank required, there will be no bank charges deduction on your account, because 1 year of no depositor/s transactions means dormat account. If, minimum maintaining balance was not met, then your bank charged you of dormancy, then your account might be closed, and you cannot deposit any. Ask your bank about your balance.
Can you deposit a business check to your personal account?
No, you cannot deposit a business check into a personal checking account. You can only deposit a check into an account that shares the same name, i.e. A check is made out to ABC company--it can only be deposited into an account that is titled ABC company. It cannot be deposited into a personal account--even if that is the personal account of the owner.
Can I deposit my money order into someone else's bank account?
The holder of an account takes responsibility for the outcome of any check deposited into their account. Thus, the bank may require that the person who owns the account also sign the check (and even be present during the deposit) to verify authorization for the deposit. Even though money orders are supposed to be verified funds, the bank cannot risk that the account holder will claim the deposit wad unauthorized if they are charged if the check us returned.
Can your grandaughter put money into your checking account?
Sure. Most banks do not have any restrictions on who can deposit money into a customers bank account. Even if I want, I can deposit money into your checking account. All I need is to know your full name and your bank account number. So, your grand daughter can easily know your name and account number and she can happily deposit money into your account.
What is the initial deposit to open an account?
It depends on the type of account and facilities provided. In India, for a savings account it is either Rs. 500/- or Rs. 1000/- There are even banks that ask for Rs. 5000/- as initial deposit for the features they provide.
Which banks in Wachovia offer a free checking account?
All Wachovia Banks offer free checking accounts. They are even offering a $50 bonus for opening a new free checking account. The accounts have no monthly service fee, no minimum balance and no direct deposit requirement.
Should you keep statements from closed bank account?
We usually don't need to keep statements from a closed bank account because, once an account is closed, no transactions can be done on it. So even if someone wants to impersonate you, they cannot use the account that you just closed. But it is always a good habit to keep atleast one or two statements of the account that you just closed in order to utilize for future reference purposes for yourself.
What happens to the money if you close an account and forgot there was money in there?
Actually such a scenario wouldn't occur. When a bank account is closed, the bank would release all the funds held in that account to the account holder on the same day the account is closed. Even if they can't do it immediately, they would have sent a check to the customer by post/mail. Banks cannot hold on to the funds of a bank account that was closed. It is mandatory for them to return the funds to the customer once his account is closed.
