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Is the bank liable for money taken from a checking account electronically?
Wiki User
∙ 15y ago
If the incident happens because of the carelessness of the customer in protecting his logon id and password the bank is not responsible.
If the incident happens due to some mistake in the bank system then it is liable.
Wiki User
∙ 15y ago
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Can a co-owner on a checking account be liable for using money from an estate not settled?
Yes, the co-owner would be legally liable for using money in the account from an estate that was not settled.
What is money electronically added to your checking account?
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Which of the following is the best description of a debit card?
It allows you to access the money in your checking or savings account electronically to make purchases.
What is money in a checking account called?
Money in a checking account is called demand deposit.
What if its disabilty money in your checking account how would a lien work then?
if you have a lein on you, can they take your disabilty money out of your checking account
What is the statute of limitations on coming back and collecting money owed for a loan that the balance was zeroed out but money never taken out of a checking account electronically?
There is no statute of limitations on federal student loans under any circumstance.
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
Is a cosigner for a checking account liable for any loans the signer has with the same bank?
No, unless you so-signed on the loan you are not responsible for the loan. The only way you are affected is if someone uses your share of the money in the joint checking account to pay their personal loan, but legal responsibility does not fall on you...
What are the disadvantages of using checking accounts?
Many checking accounts do not offer interest on the money in your savings account. This is a disadvantage because the money you put in a savings account will collect interest, where a checking account will not.
What are electronic transfers?
the transfer of money from one account to another electronically
Do you paid taxes on checking account?
The only tax you would pay on money in a checking account is any interest the money made if it is a interest type of account.
