0
Yes. As per the government regulations, all bank account transactions beyond a certain amount are reported to the Government. For ex: in USA, if a deposit of over $5000 happens in an account, the bank has to intimate the Government. Similarly in India, if a deposit of over Rs. 50,000 happens in an account, the bank has to intimate the Government.
What else can I help you with?
will Bank of America open a business checking account if you have been reported-for account abuse?
If you have been reported for account abuse, it is unlikely that Bank of America will approve your application for a business checking account. Banks typically conduct background checks and review the history of any reported issues, which could lead to a denial. It's advisable to address any past issues directly with the bank and demonstrate a commitment to responsible banking practices before reapplying.
How do i find out why my state refund check has been deposited in my checking account.?
Call your state government to have them research who gave them your account if it was not you.
How is a business checking account different from a personal checking account?
A business checking account is different from a personal checking account by the minimum amount of desposit. You can read more at www.business.com › Directory › Financial Services › Banking
Why is a checking account more convenient is savings account?
It's easier to spend the money in a checking account.
Can I get a checking account at Wachovia?
You can get a checking account at Wachovia by filling out a form and submitting it to a local branch.
Does a levy on a checking account get reported to chexsystem?
Yes, a levy on a checking account will be notated to chexsystem or a similar system. Anything that involves your checking account in a negative way will be shared in a reporting system.
Does opening a checking account negatively impact your credit score?
No, opening a checking account does not negatively impact your credit score. Checking accounts are not reported to credit bureaus, so they do not affect your credit score in any way.
Does opening a checking account have a negative impact on my credit score?
Opening a checking account typically does not have a direct impact on your credit score. Checking accounts are not reported to credit bureaus, so they do not affect your credit score positively or negatively.
Does closing a checking account hurt your credit score?
Closing a checking account does not directly impact your credit score because checking accounts are not reported to credit bureaus. However, if the account is overdrawn or has outstanding fees, it could be sent to collections, which could then affect your credit score.
Does being reported to chexsystem affect your credit score?
No, but it will impact whether you will be allowed to open up a checking account.
Does closing a checking account hurt my credit score?
Closing a checking account does not directly impact your credit score because checking accounts are not reported to credit bureaus. However, if the account has a negative balance or is linked to an overdraft line of credit, it could potentially affect your credit if left unpaid.
will Bank of America open a business checking account if you have been reported-for account abuse?
If you have been reported for account abuse, it is unlikely that Bank of America will approve your application for a business checking account. Banks typically conduct background checks and review the history of any reported issues, which could lead to a denial. It's advisable to address any past issues directly with the bank and demonstrate a commitment to responsible banking practices before reapplying.
Is it a US checking account or an US checking account?
A US checking Account
Does opening a new checking account negatively impact my credit score?
Opening a new checking account typically does not impact your credit score because checking accounts are not reported to credit bureaus. However, if the bank performs a hard inquiry on your credit report when you open the account, it could temporarily lower your score by a few points.
How do i find out why my state refund check has been deposited in my checking account.?
Call your state government to have them research who gave them your account if it was not you.
Can you add your fiance to your checking account even though he is on the ChexSystems?
There are some banks that will aloow this but generally no. Most banks will run all signers on an account and will not allow you to be added to an account if you have been reported to chexsystems, There are some banks that do not use chexsystems at all and others that offer second chance checking.
Where can you get a checking account if you have bad credit?
Chex Systems Bites is a great site for a listing of banks where you can open a checking account with bad credit. They also have information on how the Chex System works and give recommendations on different banks. You can find the website at http://chexsys.tripod.com/goodbanks.html. Many, if not most banks, do not check your credit for a simple checking account. What they do check is if you've defaulted on a checking account at another bank. If another bank has reported you (rightly or wrongly) you will have a hard time getting an account.
