Banking

Its very small and hard to read but if u look closely u can find it on the back next to details.. under ur bum hav a nie life

Recurring Deposit is type of account where the customer deposits fixed amounts every month for a predetermined duration (6 months, 1 year etc). The money cannot be withdrawn until maturity and the bank would pay a slightly higher rate of interest due to the longer duration of the deposit.

In case of savings account, there is no predetermined duration or amount and the money can be withdrawn anytime you want so banks pay you low interest on the money you hold in the account.

To remove your deceased wife's name from your account, you need to speak with an account representative. You can remove her name, though you might need to prove that she passed away.

NABARD stands for National Bank for Agriculture and Rural Development. It's main functions are sending banks money to refinance what the IRDP ( Integrated Rural Development Programme) lends out to those generating self employment opportunities.

No. JP Morgan is one of the largest financial conglomerates in USA whereas Deutsche bank is from Germany. They are both totally unrelated. The similarity between the two would be the fact that, they both operate across the globe in many countries and provide banking services to their customers. Revenue and size wise, JP Morgan is almost twice as big as Deutsche bank.

Yes. The bank has the right to freeze a bank account (irrespective of the type of account) if they are not able to verify the KYC details of the customer. KYC stands for Know Your Customer and it is a process which checks the background of the customer and verifies his details like name, address, occupation etc. This is done to prevent illegal elements like terrorists or smugglers to gain access to the banking system.

So, if your K YC fails, the bank may freeze your account to prevent illegal activities. If you can prove your details to the bank, then, they will be more than happy to re-instate your account.

In India, I think Kotak Bank and Yes Bank offer the highest rate of interest on Savings account. They offer 6% interest. Almost all other banks offer the minimum stipulated amount of 4% per annum. Mostly private sector banks offer higher interests and perks for savings account holders when compared to government banks in order to attract customers.

It depends on how you get the transfer done. If you are sending money online via NEFT or RTGS usually the money reaches within 1 working day. If you initiate the transfer in the morning around 10 AM the money should reach federal bank by evening time. If you initiate the transfer late in the day say around 5 pm, money usually reaches by mid day the next working day.

If both the CIMB Bank and Hong Leong Bank are inside Singapore, then the usual time to clear cheques is 1 or 2 business days. If either of the banks is outside Singapore and one of them is inside Singapore, then the time may be considerably longer due to international settlement. You can actually call up your banks customer care to find out the average time it would take to clear the cheque by providing the source account details.

INW stands for Inward Clearing - where the bank issues you money.

This occurs when your bank reimburses you for a corrupt / fraudulent ATM withdrawal - one that you never made.

CLG is a commonly used acronym in the banking industry which refers to "Clearing". It is a term which is used to signify that a bank is processing a financial instrument for payment.

For ex: If you deposit a cheque in your bank account, it will be sent for "Clearing" to the cheque issuer bank and once the issuer bank processes it and sends the money, your bank will credit the money into your account. In the time between you depositing the cheque and receiving the money, the cheque is said to be in "Clearing" status.

Department of the Treasury

Electromagnets apply a magnetic field to encode data onto the magnetic stripe of a credit card. The magnetic stripe contains tiny magnetic particles that are oriented to represent data. When the card is swiped through a card reader, the electromagnet within the reader changes the orientation of these particles, allowing the data to be read.

The World Bank headquarters is at

1818 H Street, NW

Washington, DC 20433 USA

tel: (202) 473-1000

$196,000,000.00

Sure. Anyone or any organization can have a Savings account. A savings account is one of the most basic types of accounts which is open for everyone. In this type of account, the account holder (Individual or business or corporation) stores up money for their future use and there is no restriction on who can open such an account.

the back or the bottom

It means that, money will be paid out to the person who is holding (bearer) the check. For ex: If I owe you Rs. 10,000/- and give you a bearer cheque of my bank account with ICICI Bank, all you have to do is, visit your nearest ICICI Bank branch and then submit the cheque for payment. The bank will ask for your identity proof to verify that you are indeed the payee for the cheque and if they are satisfied, they will give you the cash right away. You, the person carrying the cheque will be considered the bearer of the cheque.

Yes. Many banks these days offer accounts that can be operated online only. Such accounts do not offer branch banking facilities and all transactions - Credit/Debit must happen online. Because you do not get branch services, these accounts offer higher interests and charge lower fees because the bank does not incur any human labor cost in servicing you. With the upgrades in technology these days, such type of accounts are becoming more and more prominent.

The commission for purchasing a demand draft through State Bank of India (SBI) typically varies based on the amount and the specific bank policies. For a demand draft of ₹15,000, the commission could range from ₹25 to ₹100, depending on factors like the location and type of account held. It's best to check with your local SBI branch or their official website for the most accurate and current fee structure.

Lloyds TSB Bank provides thirteen different types of banking accounts for personal use. It offers four types of business accounts, three different private banking accounts, and one offshore banking account.

Wellsfargo bank offers a wide variety of service that range from private investing to business options. Wellsfargo banks offer other services in home and personal loans, insurance, deposits, and savings.

There are thousands of banks that offer their products and services to American corporate clients. These banks can be as large as the Bank of America or Wachovia or as small as local community financial institutions.

There are quite a few benefits to having an online checking account. For one, there is no need to balance your check book because all transactions are displayed in real time online. Also, one can use an online checking account to pay all monthly bills or send checks to people without have to be physically present or having to pay postage.