Commercial Bank and Checking Accounts

Checking accounts are deposit accounts that allow customers to deposit or withdraw any amount of money, subject to funds’ availability. Most commercial banks offer checking accounts to both individuals and companies.

5,813 Questions
Commercial Bank and Checking Accounts

What is another name for checking account?

A "demand deposit" account.

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Banking
Commercial Bank and Checking Accounts
Swift Codes and Routing Numbers

How do you locate bank code on demand draft?

Usually the bank code can be found in the bottom of a demand draft. Check out for a white strip of paper on the bottom part of the draft and you can see different codes printed in magnetic recognition patterns. One of them will be the bank code.

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Commercial Bank and Checking Accounts

How do you check balance of OBC bank in online?

I want Check my account Balance

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Commercial Bank and Checking Accounts
State Bank of India

How can you check your SBI account online?

The only option to get the account details online, you should have the user name and password for online banking with SBI.

If you have not applied for SBI's online banking facility, visit your branch and fill the necessary form to apply for a user name and password for online banking. After receiving the same, you can check your account details through online using bank's web page.

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Banking
Commercial Bank and Checking Accounts
Pune

Can you check your balance in bank of maharashtra online if you have account in that bank?

I feel,Yes i can check my balance if i have an account.

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Commercial Bank and Checking Accounts
Fossil Fuels

Can you buy gasoline with a check?

usually not

No,you can not. In order to buy gasoline you need to use cash,credit or debit.

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Banking
Commercial Bank and Checking Accounts
Industrial Credit and Investment Corporation of India Bank ICICI

How you will know your icici bank account balance?

You can do it many ways.

  1. Walk into your nearest Indian bank branch with your account number and ask for it
  2. Walk into the nearest Indian bank ATM and use your ATM card and check your balance
  3. Call up customer care and mention your details and ask for it
  4. Logon to internet banking and check it
  5. Logon to mobile banking and check it.
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Commercial Bank and Checking Accounts

Is a joint checking or savings account considered part of an estate?

No. Ownership of a a joint account passes automatically to the surviving joint owner unless it can be proven that the account was set up as joint for purposes of convenience only by the decedent.

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Banking
Commercial Bank and Checking Accounts

What does FPO mean on bank statement?

It means Fast Payment Online

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Commercial Bank and Checking Accounts

Can a judgment be placed on a joint checking account?

Yes, it can. It doesn't matter whether it is joint or not, as long as one of the signers is the borrower of the original loan. One of you need to call the company and make arrangements immediately in order to possibly stop any more money being taken. Otherwise, any further deposits will be taken until the loan amount and added expenses will be paid off. Good Luck

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Banking
Commercial Bank and Checking Accounts

What are the services provided by Indusind bank?

Some of the different services available from IndusInd bank to its customers are:

  1. Checking/Current account
  2. Savings accounts
  3. Internet/Mobile Banking
  4. ATM Cards
  5. Check Books
  6. Deposit Accounts
  7. Loans
  8. Credit Cards etc.
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Banking
Certificates of Deposit
Commercial Bank and Checking Accounts

How can open new account in NCB bank?

Open account for ncb

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Commercial Bank and Checking Accounts

What is the purpose of checking account?

A checking account is one in which you keep a certain amount of money and use it for your regular day to day transactions. For ex: to pay your phone bill, to pay for your groceries etc. Banks usually do not give you a significant interest on your deposit in this account because of the liquid nature of the account and because you can withdraw your funds anytime you want.

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Business & Finance
Commercial Bank and Checking Accounts

How many digits in a UK bank account?

somewhere between 7 and 9 digits for the account number, 6 digits for the sort code

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Credit and Debit Cards
Banking
Money Management
Commercial Bank and Checking Accounts

What is a written order directing the bank to deduct money from your checking account to make a payment called?

a check

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Banking
Commercial Bank and Checking Accounts

Why minors can not open joint account?

Minos can very well open a joint account. So there cannot be any reason why minors cannot open a joint account.

If you want to open an individual account then you must be atleast 18 years old. But, if you are a minor (less than 18 yrs.) you can always open a joint account with any of your adult family members like mother, father, elder brother etc. banks do not say no to any customer who wishes to open a bank account

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Banking
Commercial Bank and Checking Accounts

What time does the business day ends for a bank?

It may vary from institution to institution, but I know typically the banking day ends at 6:00 pm. Interestingly enough, this is also when most banks close, but in cases where the bank stays open late (such as TD Banknorth which closes at 8 on Thursdays and Fridays) it is very important that YOU know your transaction is technically happening on the next day if you need the funds available A.S.A.P.

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Banking
Money Management
Commercial Bank and Checking Accounts

What is the explanation for the function of commercial bank?

A commercial bank refers to a normal bank that provides the basic banking services to the residents of a country.

Some of the different services available from commercial banks to its customers are:

  1. Checking/Current account
  2. Savings accounts
  3. Internet/Mobile Banking
  4. ATM Cards
  5. Check Books
  6. Deposit Accounts
  7. Loans
  8. Credit Cards etc

The Functions of a Commercial Bank can be classified as follows:

1. Primary Functions

a) Accepting of Deposits.

b) Lending

2. Secondary Functions.

a) Agency Services.

b) General Utility Services

3. Services through their Subsidiaries

a) Merchant Banking Services

b) Leasing.

c) Housing Finance.

d) Factoring Services.

e) Insurance Services.

Under general utility services we can include modern facilities provided by banks like, for example,

a) Locker Facilities and Safe Deposit Functions.

b) Autoamted Teller Machines (ATM)

c) Credit Cards and Debit Cards.

d) Tele-banking.

e) Internet Banking

f) Online Ticket Bookings.

g) Electronic Funds transfer.

h) Real Time Gross Settlement (RTGS) Service

i) Online tax payment services

M.J.SUBRAMANYAM, XCHANGING, BANGALORE

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Banking
Commercial Bank and Checking Accounts

How does RBI control the function of other banks?

Reserve Bank of India was established on 1st April 1935 through the Reserve Bank of India Act, 1934, when the British Ruled India. It is the central bank of India that governs the operations of all banks in the country. It was created to help reduce the economic troubles in India after the first world war.

Reserve Bank of India supervises/oversees the banking operations of all banks in India. They are responsible for the proper functioning of all the banks and they are also the lender to the banks (The place where banks go to borrow money if they are short of funds). They also decide the lending and deposit rates for all banks in the country.

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Banking
Commercial Bank and Checking Accounts

Can a minor open TD account with senior?

Yes. There are no restrictions as to who can open a Term Deposit account. Let's say you want to deposit $10000/- towards your sons college funds, you can visit your nearby bank branch and open a TD as a joint account between you and your son.

A minor is a person who has not completed the age of 18 years. As such according to Section 11, of the Indian Contract Act of 1872, a minor is not competent to contracat. Therefore, any contract entered into by a n\minor except those fjor the necessaries of life supplied to him, is void ab initio, and are therefore unenforceable.

However, a banker can open a savings bank accout in the name of a minor and he runs no risk, as long the account is in credit.

Similarly, a banker can also open a Term Deposit account in the name of a minor provided he doesn't give loans to the minor. This is because a banker will have to face risks when he gives a loan to a minor because he cannot recover the loan amount from the minor, who is not competent to contract.

In case a banker decides to grant a loan to a minor for the necessaries of life for him, it is necessary to satisfy himself that the minor has got sufficient property. This is because a minor's property can be made liable, but a minor cannot be personally made liable for the loan.

In the eyes of law, a minor is a pampered child. Hence, a minor can become a major problem.

M.J. SUBRAMANYAM, XCHANGING, BANGALORE

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Banking
Economics
Money Management
Commercial Bank and Checking Accounts

It is always claimed by the commercial banks in the economy that their Net-Worth fall sharply when Central bank adopt the contraction monetary policy in the periods of high inflation in the economy?

plz give me this answer of the question bcoz today is last date of mjy gdb.so that plz answer send me till evening.okay plz guys

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Commercial Bank and Checking Accounts
Financial Statements

What are objectives of using Tally?

Physical Characteristics

There are three types of pangolin -the giant pangolin, the tree pangolin and the most common, the ground pangolin. Pangolins have small heads and broad tails. They have no teeth and external ears, although their hearing is good. Their sense of scent is well-developed, but their sight is bad. The weight of the protective scales and skin make up about 20% of the pangolin's total weight. The animal protects itself by scratching with the hind legs and lifting its scales so the claws can reach the skin. It also uses its tongue to remove insects from under the scales.

Diet

Pangolins use their sense of smell to locate termite and ant nests. They dig the insects from mounds or holes with their claws and use their extremely long tongues to eat them. In a resting position the tongue is pulled back into a sheath that retracts into the chest area.

Behaviour

Pangolins are nocturnal so they remain in their burrows during the day. All pangolins are able to roll themselves into a ball to defend themselves, and it takes a lot force to unroll them. The cutting action of their armor-plated scales, worked by powerful muscles, protects them too, by inflicting serious wounds on anything inserted between them.

Pangolins normally live by themselves. Females are usually alone with their young, but occasionally are accompanied in their burrow by a male pangolin. At this time the infant begins to accompany the mother, riding on the base of her tail. If the mother senses danger the baby slips under her and is protected by her when she rolls up her body into a ball.

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Debt and Bankruptcy
Commercial Bank and Checking Accounts

How long after you file bankruptcy can you get a checking account?

A checking account has nothing to do with a bankruptcy unless the bank you are going to deal with does a credit check on you and uses this information to Approve/Disapprove you based on that info. If you are turned down by a bank try another, some bank in your area will give you a Checking Account I'm sure.

Good luck getting a checking account. I filed chapter 7 and was discharged over a year ago and NO ONE in the area will give me a checking account. I have to get my paycheck cashed to pay bills.

The above person can't get a checking account probably because when they filed for bankruptcy, they included some current bank account they had. When you do this, the bank will place an inquiry on Check Systems and that is what banks used to determine if they will grant you a bank account at their branch.

I understand your problem entirely. Refer to the above comment about ChexSystems. Keep in mind that not all banks use ChexSystems, there are still 20% of banks that use some other system or no verification system. If you have been legitimately reported to ChexSystems for owing a bank money, there is no way to remove it unless you can get the bank that added the report to request the removal. You can however, get a note placed on the account if you have paid the debt in full - this will not ensure that you can open a checking account, but it does improve your chances with a bank that has the option of overriding a ChexSystems report. Easiest way out, check with your local credit unions and smaller banks. Odds are one of them either doesn't use ChexSystems or they will open an account even with negatives on that system.

;

I just came out of Chapter 7 and could not open an account as long as you included the bank in your bankruptcy and have your discharge papers along with the line item showing they were included into the bankruptcy you can open another account. Just order a chexsystem report then dispute the item as paid and request it to be updated/removed you then will be able to open another account within 30 days. If they dont show a 0 balance you can sue them under the bankruptcy law. but you wont have a problem as i was able to open account 15 days after my dispute.

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Banking
Commercial Bank and Checking Accounts
Swift Codes and Routing Numbers

Can you give your bank account number to someone?

No. Sharing of sensitive information like bank account number or credit card number is not advisable. These are information that must be kept safe/secret and should be shared with family members and only trustworthy individuals.

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Commercial Bank and Checking Accounts

Can small businesses earn interest on their checking account?

Absolutely. Just go into any bank and ask for a business checking account that pays interest. You might have to deposit a certain amount to open it and keep a certain level of average balances to avoid charges and to earn the interest they offer. Just ask

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