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What type of investment charged a penalty if withdrawing money early from this type of bank account?
Time Deposits or Fixed Deposits are a type of account which you open under the agreement with the bank that the money will be deposited with the bank for a fixed duration of time. As a result, the bank offers you a higher rate of interest. Though you can withdraw money early from this deposit account, banks will charge you a penalty because you are breaking an agreement which was offering you a higher rate of returns.
How much money can you spend at a time with a credit card?
That depends on the agreement you have with your bank. Ask them.
How does FDIC insurance work?
The FDIC provides to $200,000 of insurance per bank account. This means that if the bank goes under, you will still have your money. If you have more than $200,000, you will need to put in in multiple bank accounts.
What happens if your bank goes to bankruptcy and you owe money to them?
You still owe money.
If you default on an unsecured line of credit from a bank can they take money out of your joint bank account?
of course. i have a joint line of credit with my ex. Under the separation agreement, he took over the line of credit. He delays the minimum payment for one day. The bank threatens to withdraw the minimum payment plus penalty from MY PERSONAL BANK ACCOUNT.
Can a bank take money out of your savings account?
Yes, a bank can withdraw money from your savings account under certain circumstances. This typically occurs if you have unpaid fees, overdrafts, or if the bank is required to comply with legal actions such as garnishments or court orders. However, banks generally cannot take money without proper notification or legal justification. It's important to review your account agreement for specific conditions regarding withdrawals.
What exactly is scotiabank line of credit?
Scotia Bank is large international bank, and a line of credit is an agreement with this bank that they will loan you money when you ask for it. The loan is based upon equity that you have such as your house.
What happens if you have a wreck without auto insurance and still money to the bank?
You'll be ticketed for driving with an invalid registration and driving without insurance, and you still owe that money to the bank.
If you win lottery in Canada and do not put any in the bank are you still text on it?
If you win the lottery in Canada and don't put the money in the bank, taxes will still need to be paid on the money.
What is a 401 unauthorized type of bank account?
A 401 unauthorized type of bank account is a bank account that is not insured by the FDIC. Which is the Federal Deposit Insurance, which is an insurance company that guarantees that if the bank goes under you will still be able to access any money that was deposited into the account.
To give a flat which is mortgaged to SBI on rent in mumbai for 11 months under leave and licence agreement do you need NOC from bank Once the agreement is readydo I need to register it immediately?
To give a flat which is mortgaged to SBI on rent in mumbai for 11 months under leave and licence agreement do you need NOC from bank Once the agreement is ready do I need to register it immediately do I need the following documents for this purpose 1. NOC from bank 2. NOC from builder/society 3. Police verfication of the tenant 4. Registration of agreement in the court
Can you take money out of your savings account at any time?
A standard bank savings account is accessible based on your bank agreement. Some have a limit on how many deposits or withdrawals you can make in a month. You simply go to the bank and fill out a withdrawal slip and they will give you the money.
