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I opened a checking account with money I earned from my employer. the bank cosed my account. they sent me no explanation. What is going on?
Wiki User
∙ 12y ago
You'll need to go to the bank and ask them.
Wiki User
∙ 12y ago
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Should interst earned on a checking account be added to the checking account balance?
There is a way to earn interest on a checking accounts and can be added to the account. You will have to back through a credit union.
What is the journal entry for interest earned on a checking account?
Debit cash / bankCredit interest income
Can a corporation have a interest bearing checking account?
A corporation that is a for profit corporation cannot have an interest bearing checking account. However, it can have an earnings credit which is similar to an interest rate. With an earnings credit the interest earned on the Checking account is used to offset monthly fees/ charges on the account, if interested earned using the earnings credit is more than the total amount of fees/ charges it is considered a surplus and does not accrue to the checking account balance. A non profit corporation such as a 501.c.3 Can earn interest on Checking accounts due to the not for profit status.
Can a corporation have an interest bearing checking account?
A corporation that is a for profit corporation cannot have an interest bearing checking account. However, it can have an earnings credit which is similar to an interest rate. With an earnings credit the interest earned on the Checking account is used to offset monthly fees/ charges on the account, if interested earned using the earnings credit is more than the total amount of fees/ charges it is considered a surplus and does not accrue to the checking account balance. A non profit corporation such as a 501.c.3 Can earn interest on Checking accounts due to the not for profit status.
What are some incentive programs for opening a checking account?
"Different checking accounts have various incentive programs. Some banks offer cash back programs for opening up an account, some offer free gifts, and some offer interest earned for keeping a high balance."
Do you pay taxes on regular savings account interest?
You must claim any interest earned over $10.00 from saving, checking or any dividends earned over the year. Please see IRS.gov for detailed information.
How often does PNC Bank compile interest on checking accounts?
PNC Bank compiles interest on a checking account yearly. Your statement likely contains potential earned interest every month. It will be compiled every 12 months.
Why is MY employer taxing MY retention bonus at 40 percent?
Your employer is not taxing your retention bonus. Your employer is following the IRS rules that say your bonus is earned income, and as such, it is taxed just like other earned income.
Is your employer required to give a raise?
No not really, not unless you actually earned it. A good employer will though.
Does a employer have to pay you earned vacation time?
If your question is "When I miss hours of work, can the employer refuse to call them paid vacation as I requested", the answer is "Goodness yes, the employer alone determines the vacation usage policy.
Calculation of interests on various deposits in bank with examples?
Lets say you are going to deposit $1000 in your bank for one year. a. Savings account - 1% rate of interest - Interest earned = $10 b. Certificate of Deposit - 4% rate of interest - Interest earned = $40 checking account has little or 0% interest so I havent used it here.
Is fees earned a temporary account?
No.
