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How long must a share draft account remain open with a negative balance before it may be closed by the institution?
Wiki User
∙ 14y ago
The bank has the option to shut down any account that has a negative balance. That is technically an illegal loan and the credit institution can get in trouble for your poor budgeting.
Wiki User
∙ 14y ago
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What does Vested Balance mean?
Balance in your investment account before tax
If several payday loans have caused a negative balance in your checking account can this be included on a chapter seven?
That happened to me and I included it in my chapter 7 but it made it difficult to open a new account. Open your new account now before you are reported to chexsystems.
Which account has a balance equal to net income immediately before it is closed?
income summary account.
What is a honor overdraft limit?
Honor Overdraft, such as at Wesbanco bank, is an amount you can overdraw your account before it being held against your credit. Wesbanco's honor overdraft for instance allows you to withdraw (in transaction, such as restaurant or store, ATM will not allow withdraw) $1-499 over your account balance before it is held against you, though overdraft fees and collection fees do apply until this negative balance is paid in full.
How many balance transfers can be made before you am charged a fee?
Depending on who your banking institution may be, the number of balance transfers that you can make will differ. Contact your own banking institutions for specifics.
What credit card can you get with no job or checking account?
None. Even secured cards require a specified balance in a checking account, before they are granted.
What is represented by the number in the balance forward box on the check stub?
The amount in the account before the check is written.
You received a 1 savings account earning 6 on your 1st birthday How much will you have in the account on your 30th birthday if you don't withdraw any money before then?
Probably none, or a negative balance. Banks usually charge fees for accounts below a minimum balance, and so you will have nothing by the time you are 30. I had an account when I was 6. My mom put $25 in for me (which was the minimum balance at the time). I go back when I am 18, and they had charged fees and cancelled the account... they took my passbook. It is a nice idea to leave the money there and have it collect more money... unfortunately, banks nickel and dime you to death, so it doesn't work.
When does an account shows credit balance?
When you have paid more than you have charged to your credit card account. Alternately you may have paid considerably in advance before receiving the bill.
Franklin just deposited 364 dollars into his checking account If Franklin now has a total of 500 dollars in his account how much did he have originally?
Newly deposited amount: 364 dollars Current Bank balance: 500 dollars Previous balance:? Previous balance = current balance - newly deposited amount = 500 - 364 = 136 Franklin had 136 dollars in his account before he made the 364 dollar deposit
What is the law on canceling a check?
If you have already written the check and paid it to the receiving party, then you must go to the fincancial institution where you bank and request a "Stop Payment" to be placed on it. You will need to provide your account information as well as the check number. This request must be done before the check has been cashed, or you will lose that money. If the cashed check places your account in the negative, your financial institution will mostly likely apply an overdraft fee, typically around $25.00, and will also charge a daily fee thereafter, typically around $5.00 per day. If you have other pending transactions in the works, the charges will repeat for each one individually and your account will compound at an alarming rate further into the negative.
Why trial word used in trial balance of accountancy?
A Trial balance is basically a test to see if the account will balance before they are finalised. If there are errors its at this point they will be visible. It allows fiance departments to check they have entered all cash in and out correctly.
