0
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.
3,404 Questions
Can you put auto loan in checking account?
Assuming I've understood the question properly, no you cannot. You don't get handed a big pile of cash to do whatever you want with when you get an auto loan. You get a piece of paper saying that you've been approved. When you pick out a car, the dealership gets the money directly from the bank and sends them back the title. You never have the money, so you can't "put it in a checking account."
Now, there's a possibility that you're talking about a secured loan, in which you're putting the title of a car (or some other asset) that you already own up as collateral for a loan. In that case you DO get cash (well, probably you actually get a cashier's check) and you can do whatever you want to with it... you can pay your mortgage, buy a new TV, put it in your checking account, or just get naked and roll around in it; the finance company doesn't really care, because paying it back is your problem and if you don't do it they'll take your car.
How can your checking account have a current balance that is lower than the available balance?
Current balance may be reflecting beginning of day balance while other credits posted during the day giving you a higher immediate available balance
How can a person have a DDA account But no checking account?
i was wondering bout the same thing at first til i asked. it still depends on the company youre working for. i myself dont have a checking account but get my pay as direct deposit. they wire it through my savings account instead.
What are penalties for writing checks on closed account in Illinois?
Fees and/or jail time await anyone that knowingly writes checks from a closed account...
Can wife sign check on husband checking account?
Only if the account has her a a signatory.
Otherwise it is forgery and illegal
What information does a bank see when opening a new account?
Since banking channels are being used by terrorists to convert illegally obtained money into legally accptable money, on recommendations of G8 countries, "Know Your Customers (KYC Norms)" have been introduced in India by the RBI. Accordingly while opening an account, the following PROOF OF DOCUMENTS are to insisted by the commercial banks.
1. Customer Acceptance Policy: According to which no accounts should be opened in ficitious name. Hence the address proof is sought from the prospective applicants before an account is opened. In addition to this, the nature of business activity, location of the customer and his place of business, mode of payment, volume of turnover, financial statements, etc., are also insisted in cases of business people who want to open current account in a bank.
2. Customr Identification Procedure: Documents which help to identify an applicant is sought for identification purpose. These documents should help a bank to identify any customer at any point of time. Hence sufficent information is obtained from the applicants before opening an account. This information will be useful for banks for Risk Profiling the customer based on the expected pattern of transacations. Examples of identification proof are : Voter ID, Passport, PAN Card, Driving License, Identificatiion cards issued by Companies of repute, Ration Card, etc. which contain photos of the applicant as well as residential address.
3. Monitoring Suspicious Transactions: After opening the account, the burden passes on to the frontline banker who is expected to keep a close watch on the transactions of customers and if there is any suspicious transctiions he should bring it to the notice of the Money Laundering Officer at the Controlling Offcice of his bank. If satisfied, the MLO will conduct an investigation into the matter and ascertain if the transaction is a monely laundering one or not.
4. Risk Management: Using different techniques to manage the risks. Normally as per RBI guidelines the customers are grouped into low, medium and high risk customers depending upon their transacations and socurce of income. More concentration will be bestowed on high risk customers by the bank.
How do you take a person off your checking account?
Call your bank. Each bank's policies may vary. An easier solution would be to withdraw your money, then open a new account in your name only.
How do you have your personal account?
Very easy. Go to the bank taking all your documents along with you, look for the new accounts department, and tell to the officer that you want to open a personal account.
Depending on the bank you have chosen, you may follow some procedures that is simple. When entering the bank you have to get a ticket with a number. (someone will help you with this) .
Can we deposit monthly installment by transferring the amount from bank account to rd account?
we can do briton hhxjjkhjkhkjhfgjk
Can the husband tke money from the joint account and open a separate account?
The simple answer is yes, but you may want to let your spouse know about what you intend to do before you do it. Otherwise, there may be confusion that could cause headaches and time wasted clearing things up. You may want to check the details about any specific accounts you may be interested in, but there are accounts out there that allow you to have joint and/or separate accounts through a financial institution.
Can your husband endorse your check before depositing it into your joint account?
it depends on what kind of a husband he is.
Can the IRS levy a corporate checking account?
Simple answer: yes, the IRS can levy anyone, anything, anywhere, anytime. Pay them what you owe, or they will take it...
On another note, if you are referring to a matter of owing the IRS on a personal level, they may choose to simply levy any personal accounts you have instead of drawing from the corporate checking account.
You do not need the routing number if you are going to that person's bank and making a deposit. You would only need the routing number for an electronic transfer.
They are processed the same as all other checks, however, the availability is different. Cash tends to be available immediately. Your bank may also give you immediate credit for a cashier's check, but most provide next-day availability.
Can customers with a personal checking account use the night deposit?
Yes as long as your bank has ATM's.
How do you write a letter to bank manager for handover of your passbook to your father?
You are probably not going to be able to make any changes to your account without appearing in person with your father (and both of you should bring your photo ID) to affect the changes with a bank official.
What are the similarities and differences between checking and a savings account?
BOTH accounts:
- accept unlimited deposits of cash and checks
- are, in the United States, FDIC insured up to the applicable amount
- are liquid, meaning you can withdraw at any time without incurring any penalties (however, there are limitations to the number of TIMES you can withdraw from a savings account in a certain period)
- can have a single owner or multiple owners
- can be accessed using an ATM card at an ATM
- can accrue interest, though checking accounts usually do not
- can be used as overdraft protection on another checking account, though usually this is something only a savings is used for
CHECKING accounts:
- give you access to your funds using checks
- can be withdrawn from an unlimited number of times
- are governed, in the United States, by Regulation CC, which guarantees a certain time frame of availability on deposited checks
- can be accessed using a debit card and/or an ATM card
SAVINGS accounts:
- do not have checks, but can be accessed using a withdrawal slip at the teller line
- can only be withdrawn from 6 times in a given statement period without incurring fees (some banks start charging fees at 3x), per Regulation E
