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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
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.
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.
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 keep your checking account when you file for bankruptcy?
Can u keep your checking account after filing chapter 13?
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
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.
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
Can you write checks from your scottrade account?
Yes, if you fill out a checkwriting application. They will send you a checkbook as well as a debit card if you request it. The first set of checks are free of charge. The only requirement for eligibility is that you have $5,000 of total equity in your account at the time the checkwriting application is processed.
Can banks legelly allow you to spend money you dont have in your bank account?
Yes. As long as there is a scarcity of banking regulations, banks can do almost anything to cause you to owe them money. The administration is trying to clean up the banking industry but there is a lot of resistance. You need to pay more attention to monitoring your own accounts and not use your debit card unless you are sure your account can cover the charge. YOu can avoid overdrawing by keeping a buffer amount in the account at all times.
First. There are two answers to your question which are also questions: The first one is, "can you?" The answer is yes. The second one is, "Should you?" The answer is, "Ask your father." What is the understanding between you and your father?
Frequently, a second person is put on such an account for the purpose of writing checks in case the first person becomes incapacitated. The second person is not given carte blanche. However, if your father had told you to go ahead and take any of the money for any reason you needed it, then there would be no reason not to pay off your credit card bills.
My son has my power of attorney. If I become incapacitated, it would be a simple matter for him to start writing checks to pay my bills. I did not tell him to use my money for any other purpose although he could. If i am lying in the hospital with another stroke, I will need someone to write my checks.
Commercial banks and their relationship with the reserve bank?
we take/borrow money from the commercial banks and the commercial banks take/borrow money from the reserve bank
$170.95
You need to check with the bank. They will want to see a copy of the death certificate and may want to close that account and reopen it in your name depending on their policies.
