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A Fixed Deposit (also called a Certificate of Deposit) is the bank account that has the highest effective annual return. A FD Account is one in which the customer deposits a big sum of money (Usually a few thousands and upwards. There is actually no limit to the amount of money you can deposit in a FD) for a fixed duration of time (Atleast 3 months or higher). Since you agree to keep the money deposited with the bank for a fixed/agreed upon duration, the bank gives you a very good interest as payment for keeping the deposit
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Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account.
How do you write a check for deposit into another one of your other accounts?
If you have more than one account with the same bank you can simply transfer money from one account to the other (i.e. savings to chequing or vice versa). This can be done online if you have online banking or at the till. You could even withdraw money from an ATM out of one of your accounts and then deposit it into another.Assuming that the accounts are not with the same bank and you want to write a check to "transfer" from one account "source" to deposit into the other bank account "target".You can make the check out to "Cash" and endorse it (sign the back).It would be wise to write your "target" bank account number in the memo portion of the check preceeded by the word "deposit". Just be sure to get a deposit receipt and ensure that it was deposited into your account. Be aware that the bank may place a hold on the deposit amount until it receives the funds from the other bank (your check does not bounce).
How long for a check to clear the account?
It depends on various factors. Let us take a look assuming you have got a check from a friend who has an account in ICICI Bank, Chennai: a. If you visit any ICICI Bank branch in Chennai and deposit the check into your ICICI account - Usually the same day b. If you visit any ICICI Bank branch outside Chennai and deposit the cheque into your ICICI account - Usually the same or next working day c. If you visit any other bank in Chennai and deposit the check into your account - 2 to 3 business days d. If you visit any other bank outside Chennai and deposit the check into your account - 3 to 5 business days
How long does a cheque take to clear after being presented?
It depends on various factors. Let us take a look assuming you have got a cheque from a friend who has an account in ICICI Bank, Chennai:If you visit any ICICI Bank branch in Chennai and deposit the cheque into your ICICI account - Usually the same dayIf you visit any ICICI Bank branch outside Chennai and deposit the cheque into your ICICI account - Usually the same or next working dayIf you visit any other bank in Chennai and deposit the cheque into your account - 2 to 3 business daysIf you visit any other bank outside Chennai and deposit the cheque into your account - 3 to 5 business days
What happens if you put someone else's name on a banking account?
They also become a joint holder or owner of the bank account and the account becomes a joint account. You and the other person you put into the account can operate the account independently and can carry out transactions like deposit, withdrawal, balance inquiry etc.
Is bank account an a bank deposit account the same?
No. A bank account can be a checking or savings. It is the account in your name where you deposit and withdrawl funds from. A bank deposit is when you put money into the account either by you walking into the bank and handing them cash or a check and the bank teller processes it to be put into your account. They are two different things but they are related.
What are certificates of deposits?
Certificates of deposit are a good idea because they are a high interest deposit and offer a higher interest rate than a savings account and treasury bills and notes. Because National Bank Of Kansas City is FDIC insured, your CD deposit is less risky than a lot of other investments too. bankofkc.com /personal/cdfaqs.aspx
Difference between current account and call deposit account?
A call deposit account is a hybrid form of Current account and general saving account which allows us to withdraw money at any time as in current account and provides us interest on the deposit amount as in other saving account.
Can I deposit my paycheck into my business account?
Yes, you can deposit your paycheck into your business account if you are the owner of the business and have set up the account to accept deposits from sources other than the business itself.
Is it possible to deposit SSS check into any other bank?
A person can deposit a SS check in an account as long as the account is in your name. The check also has to be in your name.
Can you deposit someone else's check into their bank account?
Yes, most all banks allow anyone to deposit money into an account of anyone else. When doing this, the receipt they give you showing the deposit will not show the balance of the other persons account, as this is private information.
How is the money being used when you deposit it into a checking account?
When you deposit money into a checking account, the bank uses it to lend to other customers, invest in financial products, and cover operational costs. In return, the bank may pay you interest on your deposit.
How can I set up direct deposit for my savings or checking account?
To set up direct deposit for your savings or checking account, you will need to provide your employer with your bank account information, including the routing number and account number. Your employer will then be able to deposit your paycheck directly into your account on payday. You may also be able to set up direct deposit through other sources of income, such as government benefits or pension payments, by providing the same bank account information.
If you have zero balance account in PNB branch can you deposit money in any other branch in same bank?
yes you can deposit money in any other branch of pnb bank.
How do you write a check for deposit into another one of your other accounts?
If you have more than one account with the same bank you can simply transfer money from one account to the other (i.e. savings to chequing or vice versa). This can be done online if you have online banking or at the till. You could even withdraw money from an ATM out of one of your accounts and then deposit it into another.Assuming that the accounts are not with the same bank and you want to write a check to "transfer" from one account "source" to deposit into the other bank account "target".You can make the check out to "Cash" and endorse it (sign the back).It would be wise to write your "target" bank account number in the memo portion of the check preceeded by the word "deposit". Just be sure to get a deposit receipt and ensure that it was deposited into your account. Be aware that the bank may place a hold on the deposit amount until it receives the funds from the other bank (your check does not bounce).
What does TTEE mean?
TTEE is an abbreviation for "trustee." The trustee on a trust or on a other deposit account controls the assets in the trust or the funds in the account.
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.
