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When you deposit money to 1 account is it a debit or a credit?
it is a credit. Depositing money into an account is putting money in.
What are the amounts of money coming into your account called?
it is called credit(when its coming in your account ) and debit(when its going out of your account ).
What does debit and credit mean?
Debit is when they take from your bank. A credit is money paid into your account. But the other meaning of credit is the ability to borrow money. The more money you make and the more you use your credit and pay it off, the more credit you get.
Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account.
Why is the balance as per bank statement on the bank reconciliation statement a credit if its a favorable balance but in the bank account the credit means you owe the bank money?
The Debit and Credit on a bank statement reflect the Bank's accounting records, not yours. So when you deposit money into your account, the bank owes you that money to you - it is a liability for them, therefore a credit entry. Similarly, if they charge you a bank fee, it reduces their liability to you, so they would Debit your account (on their books) and Credit an Income account.
Can a credit card company take money out of your saving account if you are no longer paying them?
yes
What are some quick tips on saving money?
Some tips for saving money are: Put all you change into a jar and roll it up each month and put that in a savings account. If you use coupons, take the money that you would have spent and put that into a savings account. Get rid of credit cards.
When there is a credit balance on a bank statement it means?
It means that you have money in your bank account that can be withdrawn whenever you need. A credit balance indicates that there is money in your account whereas a Debit balance indicates that you owe money to the bank. You can withdraw as much money as you have in your account anytime you want if the account is a saving or checking account. If it is a Time Deposit, you may have to wait until the deposit matures or incur the penalty for premature closure.
When you deposit money to 1 account is it a debit or a credit?
it is a credit. Depositing money into an account is putting money in.
What the objective of a saving bank account main?
Saving money. Obviously
What is main objective of a saving bank account?
Saving money. Obviously
How can a savings account help in money saving?
A savings account is a very good account to open up if an individual would like to start saving money. It allows extra saved money to be transferred from the checking account to the savings account.
Can you transfer money from your saving account to your credit card?
yes. Most banks offer this facility through their net banking website. I have used it in in the websites of ICICI, HDFC bank etc. You need to register with the details of the credit card in your account. Once that is done you can transfer cash to your credit card account.
What does it mean when you put money into an account?
It means that you are saving some money in your own bank account.
Is a bank saving account a good place fo save money?
yes, hence the name saving account.
What does Money saving mean?
Saving money means you put money in a envelope or a bank account. "savings" Well you put it away and you don't touch the money and you keep adding money to the envelope or bank account
If a debt collector takes money out of your account before the date that you agreed upon can you have the money placed back into your account?
yes.reason is that if the debt collector return the money in question, you can as well pay it back into your account.thank you
