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Can a bank be held responsible if it allowed money to be transferred from a dual signature checking account into a single signature checking account by only one person on the dual signature account?
Wiki User
∙ 13y ago
No. The bank is not responsible or liable if such an incident happens. A joint account is one that can be fully operated by either of the two people who hold a joint account. So if one party withdraws cash or makes a funds transfer, it is assumed that the other party has no objections towards it. So the bank wouldn't be liable if one party does it against the wish of the other party who holds the account jointly.
Wiki User
∙ 13y ago
Whether or not a bank can be held responsible in this case would depend on the specific terms and conditions of the account agreement. If the bank followed the agreed-upon procedures and requirements for transferring funds, they may not be held responsible. However, if there were any violations or negligence on the bank's part, they could potentially be held accountable. It is advisable to consult with a legal professional to assess the specific circumstances.
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Does opening a checking account require a signature card?
Yes
What is a signature card?
card that has the informaton the bank need to make an account for the person making a checking account
What is kept on record at the bank in order to identify you as the owner of your checking account?
Signature card.
If a person is added to someone's checking account are they both responsible for an overdraft?
yes both partys will be responsible
Your friend owes a lot of back taxes you are on his checking account to pay his bills for him you do not use the account as your own Will you be responsible if the tax man cometh?
no, as long as you don"t co-mingle your money w/his and keep your acounts separate from his. you can be co-signature on his account if IRS decides to attach his account don't have your money in it. or you will lose
What is it called when you draw too much money from a checking account and it's automatically transferred from savings?
bank BNI?
Since I am a signer on my mom's checking account when she dies will any of her tax debt be transferred to me?
Yes. Any tax liabilities that are due from a deceased individual get transferred to their legal heir. Since you are your mother's legal heir and a co-signer in her checking account, her tax debt would be transferred to you after her death. You need to pay the tax money your mother owes the government
Who is responsible for a NSF check written on a closed joint account?
Yes, both parties are responsible for any checks written on a joint account. When the checking account was opened, the paperwork signed by both signers basically stated that both people would maintain and be responsible for the account * It depends upon what the original signature card that was signed when the account was opened. Generally only the party who wrote the check is responsible for NSF unless it is a married couple who reside in a community property state. Be that as it may, both will likely be penalized in regards to fees and service charges.
A person authorized to write checks drawn on a checking account at a bank must sign and have on file with the bank a?
A signature card
What is the procedure to transfer one's checking account balance to their savings account for HSBC bank?
The procedure to transfer ones checking account balance is the same at every bank. It is called a balance transfer. HSBC allows only 350,000 dollars to be transferred per day.
What can you do if your bank closed and you have an account with them?
Generally if a bank closes, another bank will buy the deposit accounts and take them over. Your checking account would be transferred to the new bank
Is it a US checking account or an US checking account?
A US checking Account
