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You are responsible for any money that is present in your account. If you feel some transaction (a deposit) has happened in your account which you are not aware of, you must notify the bank of the same. If you happen to hold on to this money and it so happens that this money was being used by terrorists and they put it into your account by mistake, you will also be in trouble. So it is better if you intimate the bank reg. this.
What else can I help you with?
Deposited money in bank is cr or dr?
When you deposit money into a bank account, it is considered a credit transaction. This is because you are increasing the balance in your account, which is a credit to your account. From the bank's perspective, they are also increasing their liabilities by owing you that money, which is recorded as a credit on their books.
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 Money can be deposited or withdrawn, bills can be paid, and interest can be earned.
Can a bank you have a charge off with take money direct deposited in your name to another members account?
no
What is an example of interest-bearing account?
An Interest bearing account is a bank account in which, the banks pays you an interest for keeping your money deposited in that account. Ex: Savings Bank Account - You usually get around 3.5% rate of interest on the money you hold in your savings account in India.
Is a bank deposit slip a credit or debit?
A bank deposit slip is used for credit. Credit is an action in which money is deposited into a bank account. For doing so, we need to fill a deposit slip. The deposit slip contains details like the name of the account holder, amount of money deposited, the denominations, date of deposit etc.
Will bank hold the wire transfer fund if account number is mistaken added by extra digits?
It Depends. If there is a valid bank account including the extra digits you put in by mistake, funds will be transferred to that account. The bank will not take any liability out of this wrong transaction that arose out of your mistake in entering the account number incorrectly. But, if there is no valid account with those numbers then the transaction will be cancelled and the money will be deposited back into your account. If by chance, money got deposited into the wrong account, you have to file a legal complaint to get your money bank. The bank can only provide details of to whose account the money was deposited and will not help you out to get the money back.
Can a government cheque be deposited in an inactive bank account?
is it possible for money to be deposited in an inactive bank account
What happens when money is deposited in account is it credited or debited?
deposited money is credited to your concern bank account
What can you do if a bank puts money in your account by mistake?
put it in my account.
Can you keep money that is accidentally deposited in your account?
If money is put into your account by mistake and you notice this, you should tell the bank. It is not your money and you can not keep it. However, if you genuinely do not notice and happen to spend some of this money, you could make a case to the bank that you have acted in good faith and that you would suffer hardship in repaying the sum. As it will have been the banks mistake in placing the money in your account they may write off the amount....but this is not certain.
Deposited money in bank is cr or dr?
When you deposit money into a bank account, it is considered a credit transaction. This is because you are increasing the balance in your account, which is a credit to your account. From the bank's perspective, they are also increasing their liabilities by owing you that money, which is recorded as a credit on their books.
Can I deposit my money order into someone esle's bank account?
No. first of all, a money order can be deposited into the bank account of the person to whom it has been written to. Second of all, even if the bank teller accepts it by mistake, it will not be cashed. The money order will be returned and no money will be paid. So, doing so would be a waste of time.
What happens to the money that you deposit in a savings account at a bank?
When you deposit money in a savings account at a bank, the bank uses that money to make loans to other customers and earn interest. In return, the bank pays you interest on the money you have deposited in your savings account.
Can a bank inquire about the source of funds deposited into an account?
Yes, a bank can inquire about the source of funds deposited into an account to ensure compliance with anti-money laundering regulations and to prevent illegal activities such as money laundering.
Has a scammer deposited money into your account?
If a scammer has deposited money into your account, it is likely part of a fraudulent scheme. It is important to report this to your bank immediately and not to use or withdraw the money, as it may be reversed later.
What does returned deposited item mean?
A bounced check. Probably a check that you deposited into your account was no good so the bank returned it and deducted the money from your account.
Can you be arrested for money spent that were deposited into your account by mistake?
If you knowingly spend money that was deposited into your account in error (if you KNOW it was not yours but spend it anyway), you are responsible for repayment to the bank. This might also be construed as a crime depending on the laws in your jurisdiction. It is generally both unlawful and immoral to knowingly take something that is not yours.
