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What else can I help you with?
Can deposited money order be cancelled?
Yes. It may have been a bogus money order.
Why do banks pay their customers interest on the money in their bank accounts?
Banks make money by loaning out money that has been deposited in the bank and charging interest on it. They are limited as to how much money they can loan by how much money has been deposited in the bank. To encourage people to deposit money in the bank they offer to pay some interest on the deposits. The interest paid on the deposits is less than what they charge people who borrow that money. For example: they might pay 1% annual interest on a deposit of $100,000 - which will cost them $1,000. While that money is on deposit, they loan out $80,000 of it at 5% interest - which makes them $4,000 - for a profit of $3,000. They interest they pay to their customers is an inducement for them to make deposits so that they have more money to loan out and thus can make more money.
Can money orders payments be stopped once they are deposited?
Once a money order has been deposited, you cannot stop payment on it. The exception to this is if you can prove that the money order was fraudulently obtained. If that's the case, you can get your money back, but it will take some time to do so.
What is an alternative to credit cards that banks and other financial institutions have recently been promoting?
debit cards
Can you keep money that is accidentally deposited in your account?
If money is put into your account by mistake and you notice this, you should tell the bank. It is not your money and you can not keep it. However, if you genuinely do not notice and happen to spend some of this money, you could make a case to the bank that you have acted in good faith and that you would suffer hardship in repaying the sum. As it will have been the banks mistake in placing the money in your account they may write off the amount....but this is not certain.
Can deposited money order be cancelled?
Yes. It may have been a bogus money order.
Why do banks pay their customers interest on the money in their bank accounts?
Banks make money by loaning out money that has been deposited in the bank and charging interest on it. They are limited as to how much money they can loan by how much money has been deposited in the bank. To encourage people to deposit money in the bank they offer to pay some interest on the deposits. The interest paid on the deposits is less than what they charge people who borrow that money. For example: they might pay 1% annual interest on a deposit of $100,000 - which will cost them $1,000. While that money is on deposit, they loan out $80,000 of it at 5% interest - which makes them $4,000 - for a profit of $3,000. They interest they pay to their customers is an inducement for them to make deposits so that they have more money to loan out and thus can make more money.
Can money orders payments be stopped once they are deposited?
Once a money order has been deposited, you cannot stop payment on it. The exception to this is if you can prove that the money order was fraudulently obtained. If that's the case, you can get your money back, but it will take some time to do so.
Can banks find out if a money order been stolen?
Yes
Can my support money be taken if i owe money on a separate support case?
Not as an attachment, but can be deducted from the account where the support has been deposited.
What is an alternative to credit cards that banks and other financial institutions have recently been promoting?
debit cards
If a check I deposited clears does the bank have to release the hold immediately or can they keep the hold on availability for the full hold period?
if there is eg: a 5 day hold then the bank will hold it for the full 5 days, some banks will hold for anywhere from 3 to 5 business days no matter how much money is in the account already, especially if the cheque has been deposited by machine.
Can you keep money that is accidentally deposited in your account?
If money is put into your account by mistake and you notice this, you should tell the bank. It is not your money and you can not keep it. However, if you genuinely do not notice and happen to spend some of this money, you could make a case to the bank that you have acted in good faith and that you would suffer hardship in repaying the sum. As it will have been the banks mistake in placing the money in your account they may write off the amount....but this is not certain.
Why do Indians deposit money in Swiss bank?
India has more money in Swiss bank than all the other countries combined. they deposit their black money in swiss bank.This is not so surprising.Dishonest persons, scandalous politicians and corrupt IAS, IPS officers have deposited in foreign banks in their illegal personal accounts a sum of about $ 1500 billion, which have been misappropriate by them.
If someone deposits money into your bank account without you asking and then threatens to have you arrested for not returning it Is that theft?
Yes, this is classed as theft. There has been times where money has wrongly been deposited into certain accounts, and the account holder has spent the money and then been arrested for theft.
How can I ensure that money is deposited into my account?
To ensure money is deposited into your account, provide accurate account information, such as your account number and routing number, to the person or organization sending the money. Double-check the information to avoid errors. Additionally, stay in communication with the sender to confirm the deposit has been made.
What was the reason for the Franklin Delano Roosevelt and congress started the emergency banking act in 1933?
As the Depression began, people were afraid that the banks would run out of money. There began a "run on the banks" to get deposits out. Some banks had made bad investments and did not have enough money to pay their depositors. Some banks were forced to close. To prevent a panic, FDR ordered all the banks closed and examined. Only those financially sound would be permitted to reopen. This prevented fear about deposits in banks and gave the people confidence in the banks that were permitted to reopen.
