Some people use debit cards to pay with money from their bank account. A debit card is a plastic card that is linked to your bank account. It allows you to spend money by drawing on funds you already have in your account.
If I'm a signer on my mom's bank account can a bank take her money to pay my past due credit card balance?
You, uh, write them a check or, if it's savings, you buy a money order or cashier's check that you pay for with a withdrawal slip from your savings account plus, probably, a small fee.
there is always a reason why someone does not have a bank account, so if someone needs to loan money their only option is to go to a friend or family. This will be difficult unless the borrower has a job and is able to pay back the loan.
Speaking from personal experience, they will take the money from the bank account that you signed up with regardless if the money is in there to cover it or not. If there is not enough money in the account then you will owe the bank money. If you don't pay the bank long enough they will take you to court, and you wont be able to open another bank account for a little while.
You can pay someone electronically by using online payment platforms like PayPal, Venmo, or bank transfer services. Simply link your bank account or credit card to the platform, enter the recipient's information, and send the money digitally.
No, you cannot. It is illegal.
You can put money into anyone's account. You just fill out a deposit slip with their account number on it and give it to the bank along with the money.
If I'm a signer on my mom's bank account can a bank take her money to pay my past due credit card balance?
no
Your bank account.
A merchant bank account is an account that allows customers to pay for purchases with their debit or credit card. A regular bank account is a typical checking or savings account which allows someone to deposit money into or withdraw.
You, uh, write them a check or, if it's savings, you buy a money order or cashier's check that you pay for with a withdrawal slip from your savings account plus, probably, a small fee.
there is always a reason why someone does not have a bank account, so if someone needs to loan money their only option is to go to a friend or family. This will be difficult unless the borrower has a job and is able to pay back the loan.
The bank charged interest when it loaned that money to someone else. So in return, the banks pay their customers interest on the money they borrowed from their savings accounts.
Speaking from personal experience, they will take the money from the bank account that you signed up with regardless if the money is in there to cover it or not. If there is not enough money in the account then you will owe the bank money. If you don't pay the bank long enough they will take you to court, and you wont be able to open another bank account for a little while.
It is possible that you could have some taxable income in the amount that you receive from the bank account.
Yes. You are responsible for any money that is present in your account. If you feel some transaction (a deposit) has happened in your account which you are not aware of, you must notify the bank of the same. If you happen to hold on to this money and it so happens that this money was being used by terrorists and they put it into your account by mistake, you will also be in trouble. So it is better if you intimate the bank reg. this.