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Until the debt and all fees, interest, etc. is paid.

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17y ago

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Guide To Virtual Checking Accounts?

Checking accounts are an essential part of life. Many bills require a checking account to process payment. Credit applications often require checking account information as a way of verifying identity and making sure you are financially stable. However, a rising alternative to a traditional checking account is a virtual checking account. There are several advantages and disadvantages to opening a virtual checking account. One advantage is the most virtual checking accounts allow you to accrue interest. For example, online checking accounts through Fidelity and ING give you interest rates akin to those in most traditional savings accounts. In most cases you don't need a minimum opening deposit or a minimum balance. They are free to use as well. Virtual checking accounts provide you with a checkbook and a debit card. You can also pay your bills online. You basically get everything you would with a regular checking account but with the added benefit of interest accrual. In addition to interest, virtual checking accounts eliminate the need to visit a bank. You can transfer money between your online checking account and other bank accounts. You can also easily link to money market accounts and investment accounts. For example, you can transfer money from your ING checking account to an ING investment account in an interest. If you have a check you wish to deposit, you can mail it. Most online checking accounts provide you with information for setting up direct deposit as well. Lastly, a benefit for some might be that many online checking accounts do not use Chexsystems. Even a minor banking error can land you on the Chexsystems list and prevent you from opening a traditional bank account. For many on that list, a virtual checking account is their last resort. While there are many obvious advantages, virtual checking accounts also have a few disadvantages. For one, many people don't want to mail checks in the mail. Understandably, they don't want to risk losing it and often times prefer visiting a regular bank. Another drawback is that not all virtual checking accounts have tie-ins with ATM networks. That means you could wind up paying a fee every time you withdraw money. It is important to be aware of your online bank's ATM policy so that you can make sure you aren't throwing money away on surcharges. Deciding on a virtual checking account is a decision that requires some research. It is important to know what you are getting with the account. Make sure you understand all of the fees and make sure the bank provides FDIC insurance. It might be a good idea to maintain both checking accounts. That way you can enjoy the benefits of virtual checking while still having the option of visiting a bank to deposit a paper check. With money transfer so easy now, this is a good option for everyone.


How delet fb account?

Go to Account Settings then go to Security Click the last option "Deactivate your account" Fill the required data, confirm and your account will get deleted.


Difference between Inactive Account and dormant account?

If there are no transactions from last 6 months in a particular bank account it is called inactive account and the same continues for one year it called as dormant account


How do you delete my facebook account?

To delete your facebook account go to Account Settings then go to Security Click the last option "Deactivate your account" Fill the required data, confirm and your facebook account will get deleted.


What is the last account that should be listed in the post closing trail balance?

The last account that should be listed in the post-closing trial balance is typically the "Retained Earnings" account. This account reflects the accumulated profits or losses of the business that have not been distributed to shareholders as dividends. It is essential to place it last, as it summarizes the results of the income statement and is affected by the closing entries made at the end of the accounting period.