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Certificates of Deposit

Savings instruments that are essentially free of risk, featuring a fixed term and fixed rate of return (interest rate)

1,137 Questions

Where is bank of first deposit located?

Bank of First deposit is not an actual bank. It's where the check was first deposited to.

When the back of a check shows it was deposited to BOFD, underneath that there should be a routing number. Google that routing number, and that should tell you the name/location of the bank it was actually deposited to.

What does accepting deposits mean?

It means to give a down payment , towards the article.

If a CD is in two names can either party cash it?

If it is a "Joint Or" then yes. If it is a "Join and" then no, both need to sign for closing it out.

What is the main purpose of a safe deposit box?

The main purpose is to keep your valuables safe and out of your house where they could be stolen, or destroyed by water, fire, etc.,

A safety deposit box is kept in a fireproof area in the bank and is certainly safe from theft.

In Canada the amout you pay for a safe deposit box is tax deductable.

Someone have wrote a bank draft for you from another country How can you deposite to your account in your country?

It will most likely be sent to their main office, which then finds out how much its worth in your countrys currency. Then they deposit it for that amount.

What is a procedure of opening fixed deposit?

Visit the bank where you want to make the deposit. If you have an account with the bank then it is easier to open the account. Else you may have to provide an address and identity proof. The bank would want you to fill in a deposit form with the details of the amount you want to deposit and the duration. Once you do that and pay the cash to the teller, you are done.

Funds availability for cash deposits at ATM?

typically until the person balancing the ATM opens the envelopes to verify the cash

What is the difference between electronic clearing system and standing instruction?

Actually, ECS works upon standing instruction. So there is no difference between them , A standing instruction can be issued to the bank where a customer holds a account to debit/credit . In ECS you issue a mandate to the bank which debits your account periodically in case of ECS-Debit.

When is a deposit slip used?

A deposit slip is used to record the amount you want to add to your account. In addition to the deposit slip you would have the corresponding equivilents is some form: Cash, coins, checks.

How much does a SWIFT MT760 and a SWIFT MT799 cost?

How much a SWIFT MT760 and a SWIFT MT799 cost will depend on the asset that is used as the base. The SWIFT MT799 is a free message that is issued by the bank.

Difference between nationalised bank and private bank?

A Nationalized bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks.

A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank. The person owning/running the bank is responsible for the money deposited into the accounts of these banks.

If cashed a cashier check at the bank when can you get your full amount you deposit?

how long it take to receive your money from the cashier check you deposit in bank of America bank

What is the procedure to open a recurring deposit account?

Every financial institution has different policies for their accounts. Most often to open up a reoccurring deposit account, you would open a regular savings or checking and fill out a reoccurring transfer or direct deposit form to start the deposits.

How do you change the bank for direct deposit you want to move your account to another bank?

Go to the business office where you work and fill out a new EFT form for the new bank. If it is a government agency get the form from an office or on line with their site. Make sure you keep the old account open for 30-60 days because it may take that long for the check to go to the new account. If this happens keep a few dollars in the old account so the check will be put there and you can move it to the new account until the EFT kicks in.