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Can only 1 person close a joint checking account?
It turns out that the answer is yes, which was rather a surprise to me. A person I know closed her joint checking account (with her husband) after her divorce, because he kept overdrawing on the account. She tried to have her name removed from the account, but they wouldn't do that without him; however, bizarrely, they were perfectly happy to simply close the account on her say-so. (This may have been practical: they may have just decided "it's better for us to close the account than to take the one person who actually puts money IN off the account.")
Can you drop your name off a joint checking account?
Yes it is possible to do so - PROVIDED - the account is in credit and the other account owners agree. It is best to do this in writing (see related question below). If the account is in arrears (overdrawn) the bank will not let you do this as you are joint and severally liable for the debt.
Deposits go on debit column or credit column?
Debit the account that is receiving the cash and credit the account that the cash is coming from. Because debits always equal credits, every transaction (including a deposit) must have equal debits and credits. For example, if you are depositing $100 received for a sale, debit the checking account and credit the revenues or sales account. If you are depositing $100 that was received from a customer to pay off an accounts receivable, then debit the checking account and credit that customer's account in accounts receivable.
If you hqve a checking account in an overdraft condition can you open another account in another bank without having the account attached to the first account?
Yes, you will be able to open another bank account at a different institution until the bank account that is in overdraft decides to report you to check systems. Once you are reported to check systems as having owed a bank via a checking account, it is very hard to get off of it and that may prevent you from opening a bank account pretty much anywhere. Most banks check check systems.http://paymenttransactionsystems.comhttp://merchantpos.net
Can a bank you have a charge off with take money direct deposited in your name to another members account?
no
Can only 1 person close a joint checking account?
It turns out that the answer is yes, which was rather a surprise to me. A person I know closed her joint checking account (with her husband) after her divorce, because he kept overdrawing on the account. She tried to have her name removed from the account, but they wouldn't do that without him; however, bizarrely, they were perfectly happy to simply close the account on her say-so. (This may have been practical: they may have just decided "it's better for us to close the account than to take the one person who actually puts money IN off the account.")
Can one person take another off a credit union joint account?
No, once you have been added to an account, you have to agree to be removed
In a bank charge report What does right of set-off mean?
"Right of set-off" refers to the bank's right to debit your deposit account for fees / loans/ or expenses you may owe the bank. Most often, this is used when a person has a loan with the bank that is in default. In order to pay the loan, the bank utilizes it's right of set-off to take the necessary funds from the person's checking account at the same bank and apply those funds to the loan.
What are some benefits of a high yield checking account?
A high yield checking account will allow you to make more interest off of your money provided that you have enough money invested to qualify for a high yield account.
You know that a bank can take money from one's account if they owe on a credit card but can that bank withdraw funds from a different bank's checking or savings account to pay off said credit card?
If the accounts are held by the same customer - then yes ! The alternate account is an asset - and can be plundered to pay off your debt
What is aregular checking account?
A checking account is one of the basic types of bank accounts available to customers.Having a checking account is good because:You can save your surplus cash in the account for your future needsYou get an ATM/Debit card that you can use for shoppingYou get a check book that you can use to pay off people money that you owe them
If you have a joint checking account with your 70-year-old dad and he constantly overdraws the account before his checks come in will that affect your credit?
No,Not as long as the overdraft is paid in a reasonable time, however overdraft charges can be expensive take your name off the account. Fast!!
Member of joint account does what happens for survivorship?
When a joint owner dies their interest passes automatically to the surviving owner. The survivor is the sole owner of the account and can close it or make changes. For example the survivor can take the decedent's name off the new checks for the checking account.
Can Bank of America take money out of my checking account to pay off a charged off credit card debt?
AnswerTo whomever posted this question, please e-mail me. I have a similar issue with Bank of America and am currently doing some research. Contact me and we can possibly discuss.MMonterio@comcast.netThe answer to this question is YES, to anyone out there that has credit cards at bank of america, and also have checking accounts there that have balances, at a certain point in default, they can and WILL take money out of your checking. I just had it happen to me, and my lawyer says its legal because its in the fine print of the loan. Your checking account is collateral. They also do this completely un-announced.
How do you take off super safe mode in roblox?
You need to make a parent account for your account and then there's a take off super safe mode option on the parent account.
Can Wells Fargo bank take money from customer's checking or savings account to pay off a repossession from Wells Fargo auto finance division?
apparently, you are a bust out. so if they take the money, you kinda did the right thing. beatoff....
Does child support have the right to withdraw money from your checking account even though they are taking it weekly from your wages?
You should know how much you are paying in Child Support and it sounds rather odd they would take it off your pay check and your checking account unless you aren't making enough money at work to cover Child Support. If this is the case, then yes, they can take that money from you. You should know exactly what you have to pay re Child Support and keep tabs on what is being taken off of your pay check, plus your checking account. You have the right to demand receipts to be sure the Child Support is going directly to your child or children.
