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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

What is a MT798?

MT798 is an authenticated message that is used by Corporates in lieu of the MT 760 to send financial instruments such as Safekeeping Receipts, Import Letters of Credit, Export Letters of Credit and Standby Letters of Credit to member Banks of the SWIFT system.

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K.O/Accra-Ghana

How long do you keep cancelled checks?

I usually tear up cancelled checks and dispose them. Once a check is cancelled it is worthless and useless. So there is no need to safe keep them. However it is a good idea to tear them into small pieces to ensure that no one can misuse it.

Signer on my mom's checking account?

Is there a question here? Do you mean how do I get to be a signer or what?

What is reconciling a bank statement?

Hell if i know, I was looking to find the answer on here!

What is saving bank account?

A savings bank account is an account that is designed to store savings. You cannot draw money out of it using a debit card or checks, but it pays a higher interest rate than a checking account.

How do you transfer money from one bank account to another persons bank account?

If you want to do this online, in the UK you need their bank sort code and account number. Your bank account will then have a facility for transferring funds to that account. It may be the same elsewhere.

What should you do if a guy is checking you out?

Girl, details in the questions? Guy you like?Guy you hate? Guy you don't even know but looks cute? Guy you don't know and don't want to? Well, no specific detailed questions gives me more time to waste. So scroll down the paragraphs until you find the guy who looks like the guy who was checking you out! Good luck!: 1) The guy you like but never had the courage to make contact with him: Well, this is it! This is the first step to a romance that should probably never end! Approach him and start talking to him! Let's hope it goes further there! More details needed? Discussion page is available. 2) The guy you absolutely hate: ignore him! Whether you hate him or not, hurting his feelings is obviously not a good idea. Just ignore him. Hints that you don't like him would work as well. 3) Oh my gosh! I am a guy and I have a guy checking me out (and I am NOT liking that): Well, there are people out there who are homosexual. Big deal. So what. Different preferences. Just give kind hints (remember to not hurt his feelings) that you are in fact, heterosexual and intend to keep it that way. Showing preferences for a girl would help. 4) I don't know this guy, but he looks awful cute! (whether in personality or physical stuff; or luckily, both)!: Well, get to know him! Talk to him, and if you discover that he is not your type, drop it. If you discover he is, well, you've hit jackpot! 5) I know this guy, but I don't know whether I want him or not: Approach, disect and decide. Like it or not? If you don't well that's that. You do? Great! Jackpot once again! 6) Okay, I'm a girl and I like girls: drop the hints that you ain't interested. If you don't want to show your sexual orientation, just drop hints that you don't like him. 7) Ew, don't know him, don't want to!: Then don't! No need to know him! Note: if you have gone a step farther, or I missed a number (sorry if I have!) just check me up on my discussion page! GOOD LUCK! You should never look down at yourself and ask him, "What are you looking at?"

Or say something stupid like, "Why do you keep looking at me?" ________ If you like him, make eye contact, smile and say hi. Take it from there.

Function of trial balance?

The trial balance is a statement that shows all debts and credits. This is meant to show any error within the books.

Can you sue your bank for not Informing you about CD account money going to your checking account?

I dont think so. Usually while opening the CD you are asked the instructions upon maturity. If you had chosen the option of crediting your checking account then definitely you cannot sue them.

In most cases, if no maturity instructions are given by the customer, the cash is deposited into his/her account.

If you had provided specific maturity instructions and the bank dint follow it and instead deposited the cash to your account then you can. But before that you must give a written complaint to the bank and see what they have to say.

If you have credits and still do not have no credit how do you get credit?

Your question seems a bit vague, but if I am understanding you, If you have "No" Credit, and want to start building credit, then the best way is to start making some small purchases on your credit card and paying them off over time. Maybe three payments worth. However, you want to be sure that the merchant you are making payments to, actually reports to the credit bureaus. That's the key element here.

Why do both parties need to be present to open a joint checking account?

When your name appears on a checking account as maker you are accepting liability for overdrafts made on that account which could impact your credit score. My thoughts are that it is an issue about liability. Also the bank wants to be certain that in the event that the account is overdrawn, they are able to collect against you by having your signature on the contract.

Function of budget?

A function of a budget is to use it as a tool to control the financial resources and to track budget execution. Another function of a budget is to be planning to of cash flow for an individual or organization and what is being spent.

What are the advantages and disadvantages of flexible budgeting?

In short, flexible are much more adventagous in comparison to static planned budgets. Static budgets are prepared before the period, therefore the amount of units sold are likely to be incorrect. This is fine, because it's a budget, but it is not very useful for decision making. Flexible budgets are prepared once the number of actual units sold is known.

Think about it this way. If a company sells 200 units, but the static budget predicted 100, all of your expenses are going to result in unfavorable variances. However, expenses would be expected to increase with an increase in sales. Therefore, it is adventagous in terms of decision making based on the variances. The varainces tell managers such things as the efficiency of labor and material usages, as well as the price variances.

Hope this helps, but there's tons of info out there for you to find.

What are the pros and cons of nationalization of banks?

Pros: * You nationalize if a bank is too big to fail but in too much trouble to ever work its way back to solvency. * You nationalize because it allows rapid reorganization and writedown of debts, just as in a normal bankruptcy. * You nationalize because it's fair: it wipes out shareholders and provides taxpayers with an upside for their investment. * You nationalize because it makes the selloff of toxic assets easier since they can be hived off and held onto for a while without having to value them first. * The fundamental principle is that in a capitalist system, ownership and control of failed enterprises should reside in the hands of whoever buys up the corpse. If that's the government, then that means nationalization. Cons: * The common shareholders lose their entire investment in the stock. * Drive financial stocks to the ground and may affect other sectors. Nationalization is in favor of the taxpayers and not the shareholders. Obama promised his supporters that he will turn things around. IMO, he's all for Main Street than greedy Wall Street. I think nationalization might occur in the near future. Sell your BAC and C stock now while you can.

What is a commercial industry in a general definition?

Commercial Industry are those that makes the finished goods, supplied by the manufacturing industries, available to the consumers. Transport, trade, commerce etc are the examples of commercial industries.

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