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How does government sponsored deposit insurance affect your decision deposit money in a bank?
If the deposits in one bank are insured by the government sponsored deposit insurance whereas, in another bank this insurance is not available, it means that in case the first bank goes bankrupt, the government will give me my hard earned money that I put into my account with that bank, whereas it won't do anything if the other bank that does not have deposit insurance goes bankrupt and I stand to lose my hard earned money. So, I will deposit my money only in a bank that has the FDIC insurance on deposits available.
How do you get a credit card with money on it already?
Well, I've received for birthdays visa cards that can literally be used anywhere in the country on anything sooo credit cards need money put on them via deposits into a bank account whose bank would set you up for a credit card from the branch...
What keeps you bank deposites safe?
The Central Banks of the countries ensure that the money deposited in the banks in their country are safe. For Ex: Reserve Bank of India for India and Federal Deposits Insurance Corporation for USA ensure that customers do not lose out on the money they deposit in their bank accounts and that banks pay back customers every rupee/dollar they put into their accounts.
Bank account frozen from garnishment by debt collection agency for credit card. The account only has SSI and SSD deposits. Garmishment was released by the court. Who's responsible for returning fund?
If your account was garnished by a govt agency(i.e. the IRS). Then the IRS needs to put that money back into your account not the bank.
How can I put a check in my bank account?
To put a check in your bank account, you can visit a bank branch or use a mobile banking app to deposit the check by taking a picture of it.
Will 1 percent be put on all bank deposits and withdrawals?
Not at any bank I'd bank at it won't.
What is the process of matching your checkbook register with a bank statement?
The process of comparing a checkbook register with a bank statement is generally called a "bank reconciliation". Assume that you started business on January 1 and have just received your January 31 bank statement. Make a reconciliation worksheet, with the beginning balance equal to the ending balance shown on the January 31 bank statement. Then compare everything in your check register to the items on the bank statement. Check that all January deposits you recorded in the register also appear on your bank statement. Any deposits you made that hasn't "hit" the bank yet is called Deposit in Transit (DIT). Add total DIT to the bank balance, because the bank balance is "short" by that amount. Checks you wrote in January: Compare the check register with the checks that appear as cashed on your bank statement. Any check that is in the register but has not yet been paid by the bank is an "outstanding check". Make a list of all outstanding checks and get a total, Subtract the total of outstanding checks from the beginning bank balance. Then, adjust your check register for fees that the bank deducted or interest the bank paid that you did not record in the register during the month. Record those items on the register to get an adjusted register balance. Finally, put it all together: Bank ending balance + Deposits in transit - Outstanding checks SHOULD = The balance in your checkbook. If your actual checkbook balance does not equal this number, you either made a mathematical error or you missed something in the reconciliation process. Do it again.
Is is legal for a bank to put a hold on social security deposits?
Yes. Direct desposit is not a legal right, but merely a perk of most banks.
How does government sponsored deposit insurance affect your decision deposit money in a bank?
If the deposits in one bank are insured by the government sponsored deposit insurance whereas, in another bank this insurance is not available, it means that in case the first bank goes bankrupt, the government will give me my hard earned money that I put into my account with that bank, whereas it won't do anything if the other bank that does not have deposit insurance goes bankrupt and I stand to lose my hard earned money. So, I will deposit my money only in a bank that has the FDIC insurance on deposits available.
What kinds of services were available at the World Savings Bank?
The World Savings Bank offers a wide range of services like many other banks. It enables customers to put in deposits, create saving accounts and make transfers to another account or bank.
What is deposits in banks?
When you put money in.
What will allow you funds from your checking account?
Deposits that you put in the account.
What is the definition of FDIC?
Federal Deposit Insurance Corperation a dept. of the federal reserve that insures bank deposits up to 250,000 in the event of a bank run,pre 2009 recesion it was only insured up to 100,000
How do you get a credit card with money on it already?
Well, I've received for birthdays visa cards that can literally be used anywhere in the country on anything sooo credit cards need money put on them via deposits into a bank account whose bank would set you up for a credit card from the branch...
What keeps you bank deposites safe?
The Central Banks of the countries ensure that the money deposited in the banks in their country are safe. For Ex: Reserve Bank of India for India and Federal Deposits Insurance Corporation for USA ensure that customers do not lose out on the money they deposit in their bank accounts and that banks pay back customers every rupee/dollar they put into their accounts.
Can a bank hold check if it was deposited after the lien was put on the account?
Yes, a bank can hold a check if it was deposited after a lien was placed on the account. The lien typically allows the bank to restrict access to funds in order to satisfy a debt or obligation. Therefore, any deposits made after the lien is established may be subject to hold or restriction until the lien is resolved.
What happens when deposits are made to a bank account after year end and the bookkeeping is done for the year and the transaction was put in the books as being made at year end?
If deposits are made to a bank account after year-end but mistakenly recorded as being made at year-end, this would result in the financial statements showing incorrect information for that period. To correct this, an adjusting entry should be made in the subsequent period to reflect the deposits made after year-end. This will ensure that the financial statements accurately reflect the timing of the transactions.
