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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
Core current assets are the essential assets, without which a company can not function.
Since these assets are crucial to the survival of the company, they are usually not sold to raise cash. This implies two things. Firstly, the core current assets are not liquid and secondly, if a company is selling core current assets to raise cash, it is in dire situation or even close to bankruptcy.
What is the maximum amount of cash you can deposit in a UK bank?
No bank in any country around the globe can limit the amount of money that can be deposited into its accounts. It is your money and you can deposit it anytime you want and with any bank you want. If the amounts are huge, the banks may ask you to provide a source of income for regulatory reporting purposes. But, they can never say No to a deposit or set any limits on the same.
Can an American open an Italian bank account?
It depends:
- if the person is on a official trip to Italy and will be earning an income while his stay in India then - Yes he can open an account with any Bank in Italy.
- if the person is on a personal/tourist trip to Italy and will not be earning any income during his stay here in India then - No, he cannot open an account with any Bank in Italy.
How do you check balance from account trough internet?
Use the bank site
and then log in into net banking and then see the balance
and if u want any other transaction through netbanking even that facility is also available in this service that is TPT i.e third party transfer and mutual funds and getting of my account details and if any etc.
Can i open a savings account at the age of 17?
I'm with Wells Fargo, and I opened my first account when I was like 10? You'll need your parents there if you're under 18 I believe, or maybe its 16, but there isn't an age limit.
Is cash a source or use of funds?
Note: in the 'Funds flow statement', working capital is used as a measure of funds, which is a broader definition of funds than cash. For example, working capital increases when inventory increases, but cash would remain unchanged.
Is it forgery if a spouse writes a check out of a single account?
It depends:
a. No - If the spouse writes a check out of a single account held by the person writing the check
b. Yes - If the spouse writes a check out of a single account that is held by their spouse and the person writing the check is not a joint owner of the account.
To be simple: Writing a check from an account that is not held by the person writing the check is a crime.
What is the current interst rate for a checking account?
Checking Accounts are also called as Current Accounts. A checking account is one in which customers keep some money and use it for their day to day transactions. The money in this account does not earn any interest and is available for usage to the customer at all times.
So the interest you may earn is either less than 1% or even 0 in many cases.
When could a woman open a bank account?
anytime you want. this isn't the back in the day when women werent allowed to read or have an opinion
I do not know about Wells Fargo, but Bank of America can. They took money from an account where I am a co-signer. My old account was closed 6 years ago.
Can you keep your checking account when you file for bankruptcy?
Can u keep your checking account after filing chapter 13?
Can a UK citizen open an Australian bank account?
It depends:
- If the person is on an official trip to Australia and will be earning an income while his stay in Australia then - Yes he can open an account with any Bank in Australia.
- if the person is on a personal/tourist trip to Australia and will not be earning any income during his stay there then - No, he cannot open an account with any Bank in Australia.
A point to note is that: If the UK citizen visits an Australian Bank branch in England, he will be more than welcome to open an account.
Can a bank take money from checking account to pay loan?
It depends. If:
- you have a monthly loan repayment agreement with the bank wherein the bank automatically deducts your monthly payments from your savings account or
- you have defaulted on your loan payments for more than 2 or 3 months and haven't contacted the bank reg. the same
Then, the bank can withdraw money from your account (if there is any cash available) towards your loan repayment. Otherwise the bank cannot deduct any money from your account without intimating you.
Do All accounts receive the same rate of interest?
No. All accounts are different and thus have different risks and rewards. Thus, all accounts will accrue interest differently (although some may share the same interest rate).
Finance is the life blood of trade, commerce and industry. Now-a-days banking sector acts as the backbone of modern business. Development of any country basically depends upon the banking system.
What is the advantages of vostro account?
Vostro account is our account of your money, held by us
helps to tackle the exchange rate variation
Can you find out if you can open a checking account?
Yes. You can visit any nearby bank branch and ask them for a checking account. They will be asking you certain things like photo identity proof, address proof etc. you can let them know what documents you possess and then they will let you know if you are eligible to open a bank account with them
How long for a check to clear the account?
It depends on various factors. Let us take a look assuming you have got a check from a friend who has an account in ICICI Bank, Chennai:
a. If you visit any ICICI Bank branch in Chennai and deposit the check into your ICICI account - Usually the same day
b. If you visit any ICICI Bank branch outside Chennai and deposit the cheque into your ICICI account - Usually the same or next working day
c. If you visit any other bank in Chennai and deposit the check into your account - 2 to 3 business days
d. If you visit any other bank outside Chennai and deposit the check into your account - 3 to 5 business days
There are different agencies. FDIC insures bank accounts through the Fed Reserve. NCUA insures Federal Credit Unions, then there are private companies like ASI and others that insure accounts, however, FDIC and NCUA are the 2 federal insurance plans in place by the government
