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If money gets paid into your bank account by accident can it be withdrawn?
Wiki User
∙ 16y ago
Yes - but when the bank finds their mistake they will take it from your account and you will have to repay it - and if it goes into negative or overdraft due to their withdrawal you will have additional fees too! It is best to leave it there and tell your bank - or at least ask them what it is - who knows maybe it does belong to you. Honesty is always the best policy.
Wiki User
∙ 16y ago
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How much money can be withdrawn from a bank account at any one time?
5000
If a company pays money into your bank by accident can it be withdrawn?
Probably. Don't forget that it's not really your money, it wasn't a gift from the company. You would soon scream if the accident happened the other way round.
What gives banks power over your money?
When money is deposited in a bank, that bank uses the money for loans and other business endeavors. The money in an account belongs to the owner and can be withdrawn at any time. If the bank is in trouble, the deposits are insured through the Federal Deposit Insurance Corporation.
What does D mean on a ATM statement?
D stands for Debit on an ATM statement. A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account.
How you get interest rate?
First you need a bank account and money you put the money in the bank account, wait for a year or two and then you get more money in your bank account
How much money can be withdrawn from a bank account at any one time?
5000
What does it mean counter wth in a bank statement?
Counter withdrawal. Money was withdrawn from the bank account through a bank teller from inside a bank.
What does one do with an online bank account?
One can do the same things with an online bank account that they would do with any other bank account. Money can be deposited or withdrawn, bills can be paid, and interest can be earned.
If a company pays money into your bank by accident can it be withdrawn?
Probably. Don't forget that it's not really your money, it wasn't a gift from the company. You would soon scream if the accident happened the other way round.
When a person writes a cheque where is the money coming from?
It comes from their bank account named (usually by an account number) on the cheque. It is essentially an instruction to their bank authorising (with a signature) the movement of their money either being transferred to the recipients account or being withdrawn as cash.
What does debit an account mean?
A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account.
What means of debit?
A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account.
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.
A demand deposit is an account in a commercial bank on which checks can be written and from which money can be withdrawn without any advance notice?
monetary policy
A demand deposit is an account in a commercial bank on which checks can be written and from which money can be withdrawn without any advance notice.?
monetary policy
Cash withdrawn from bank what is the journal entry?
[Debit] Cash account xxxx [Credit] Bank account xxxx
What is the journal entry for cash withdrawn from bank?
[Debit] Cash account xxxx [Credit] Bank account xxxx
