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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
Which Nedbank branch has branch code 198765?
198765 is the unversal payment code (i.e. any branch) for Nedbank
What is journal entry to record out of pocket business expense?
debit business expenses
credit owner capital account
In Michigan, a joint checking account can potentially be garnished if one person on the account has a judgment against them. The funds in the account are typically seen as joint property, meaning they can be used to satisfy the debts of any account holder. However, there may be exceptions if the non-debtor can prove that the funds in the account are solely theirs. It is advisable to consult with a legal professional for specific advice regarding your situation.
Does an bankruptcy trustee know about all your checking accounts?
First, you are absolutely required to divulge it in your filing, which you swore in court was accurate. Not doing so will subject you to criminal charges (Judges don't like being lied to), have your case dropped...and maybe more. Think financial problems are something...keep on trying to trick people and see how much more difficult your life becomes!
Gee, ya' think maybe the credit report anyone, including a trustee gets, has all your bank account info? Ya think, as they have all been through it literally millions of times before, they won't see it the other 20 ways at least I can think of to see it? Ya think any creditor you may have paid from that account, and others, who aren't getting paid now may look for it? Hope you didn't put it on any credit applications.................
How can organizations increase the accuracy of the budgeting process?
The budgeting process is one of the most difficult areas of business to reduce inaccuracies. The primary problem relates to who holds the ultimate authority over ensuring that targeted expenditures reflect *all* expenditures and that those entrusted with spending ability are prevented from exceeding the budgeted amounts. That being said, the solution is to make sure that no accounting personel are involved in the budgeting process beyond the data entry/retrieval level. This is an operation decision and should be done by the general manager/president/mean person that takes no nonsense. In 90% of the business I have performed work for (SB consultant) it is NOT a numbers issue, but an execution issue.
How do you find someone's bank account?
One can find out information about opening a bank account at a number of places. One can go to a bank, like Chase or Citibank, and speak with a cashier or one could go to the Citibank or Chase website.
Swift code for IXE Banco in Mexico?
I know that Ixe Banco, S.A. does not have a SWIFT code. If you would like to make a wire to Ixe you must do it with Bank of America, because they have an account there. If you want to know, call to Ixe at 5255 51742000.
What does BAC stand for in terms of alchol?
BAS stands for Blood Alcohol Content. When you ingest alcohol it enters your bloodstream. BAC represents what concentration of your blood is alcohol. The higher your BAC is the more effects you will feel from the alcohol. 0.02-0.03 BAC: No loss of coordination, slight euphoria and loss of shyness. Depressant effects are not apparent. Mildly relaxed and maybe a little lightheaded.
0.04-0.06 BAC: Feeling of well-being, relaxation, lower inhibitions, sensation of warmth. Euphoria. Some minor impairment of reasoning and memory, lowering of caution. Your behavior may become exaggerated and emotions intensified (Good emotions are better, bad emotions are worse)
0.07-0.09 BAC: Slight impairment of balance, speech, vision, reaction time, and hearing. Euphoria. Judgment and self-control are reduced, and caution, reason and memory are impaired, .08 is legally impaired and it is illegal to drive at this level. You will probably believe that you are functioning better than you really are.
0.10-0.125 BAC: Significant impairment of motor coordination and loss of good judgment. Speech may be slurred; balance, vision, reaction time and hearing will be impaired. Euphoria.
0.13-0.15 BAC: Gross motor impairment and lack of physical control. Blurred vision and major loss of balance. Euphoria is reduced and dysphoria (anxiety, restlessness) is beginning to appear. Judgment and perception are severely impaired.
0.16-0.19 BAC: Dysphoria predominates, nausea may appear. The drinker has the appearance of a "sloppy drunk."
0.20 BAC: Felling dazed, confused or otherwise disoriented. May need help to stand or walk. If you injure yourself you may not feel the pain. Some people experience nausea and vomiting at this level. The gag reflex is impaired and you can choke if you do vomit. Blackouts are likely at this level so you may not remember what has happened.
0.25 BAC: All mental, physical and sensory functions are severely impaired. Increased risk of asphyxiation from choking on vomit and of seriously injuring yourself by falls or other accidents.
0.30 BAC: STUPOR. You have little comprehension of where you are. You may pass out suddenly and be difficult to awaken.
0.35 BAC: Coma is possible. This is the level of surgical anesthesia.
0.40 BAC and up: Onset of coma, and possible death due to
respiratory arrest.
What is the meaning of irregularly drawn on cheques?
When the term "irregularly drawn" is used in context of cheque issue, it means that there is a mismatch between the amount written on cheque in words and in figures, lets say you have issues a cheque where amount is figure is writen as 800/ and on other side (in words )its written as seven hundred or so, this will create the irregularty and the instrument (cheque) is rejected by the payee bank.
Hope this helps !
Thanks
Sushil Jinder
What is the types of letter of guarantee?
There are several types of letter of guarantee that include:
1. Tender Bond/ Bid Bond
2. Performance Bond
3. Advance Payment Bond
4. Retention Money Bond
5. Maintenance Bond
6. Financial/ Payment Bond
What is the difference between banking book and trading book in a bank's Balance Sheet?
Financial instruments held for trading purposes are entered in the trading book and those intended to be held to maturity are enterd in the banking book!!
Types of banks and their functions?
Banking is the activity using which individuals can deal with money. Saving, lending, spending etc. comes under banking. There are many different types of banks. Some of them are:
a. Commercial or Retail Banks - Provide general banking services
b. Private Banks - Provide personalized banking services to wealthy clients
c. Investment Banks - Provide investment management services
d. Central Banks - Banker and Regulator of all banks
e. Rural Banks - Provide banking services to rural customers
f. Etc.
15 differences between merchant banks and commercial banks?
Merchant Banking refers to negotiated private equity investment by financial institutions in the unregistered securities of either privately or publicly held companies. A bank that offers these services is called a merchant bank. Both commercial and investment banks may engage in merchant banking activities. The original purpose of merchant banks was to facilitate and/or finance production and trade of commodities and hence the name "merchant"
Commercial banks are the normal banks that provide day to day banking services like checking/saving accounts, fixed deposits, loans etc.
What is defferece between 300ah battery bank and 600ah battery bank?
600ah menas your battery will work 1 Hour if current consumption is 600 A , if 60 A is will work till 10 Hr. viceversa for 300 Ah.
Can you borrow against personal savings account?
Yes. You can always "borrow" against your own funds. You can apply for a loan or just withdraw the amount you need from your personal savings account.
What kind of suspicious illegal activities would cause a bank to freeze a checking account?
Some suspicious activities would include:
1. Large sums of money deposited into an account which is not the usual case
2. Money from abroad (Tax Havens and Suspicious origins) gets wired into the account
3. Large sums of money are transferred/wired to banks accounts in Tax Havens and suspicious destinations
4. Money gets deposited by or transferred to individuals with suspected Terrorist ties
5. Money gets deposited by or transferred to individuals with suspected Drug dealings
6. etc.
Can a home equity line of credit be used like a checking account?
A home equity line of credit (HELOC) is similar to a checking account in the following ways:
* Checks drawing funds on a HELOC are written like normal checks
* A HELOC check will bounce (NSF) if you exceed the credit line (and you will likely pay fees for such an occurrence)
* Some HELOC programs are free if you write checks, some require an annual fee whether you use them or not
The HELOC is different from a checking account as follows:
* Money spent on HELOC checks is money that you don't generally have at the time (it must be paid back eventually)
* Minimum amount per check (checks from a HELOC usually must be at least $100, some banks want at least $250)
* When using a HELOC check, your minimum monthly payment on the HELOC will change in the month after the check is cashed
* If you don't pay the HELOC or default on the HELOC, the bank may go after your home
* The interest rate on a HELOC generally changes once or twice per year
How does one qualify for second chance checking account?
If a person has outstanding debt or overdrafts they may risk losing their checking account. First they should check with their bank if they are at risk and then if so search other banks for the second chance account and applying for it.
Can anyone apply for your bank statement?
No individual can apply for your bank account unless they are law enforcement agencies like police officers. Only an account holder can apply for his/her bank statement.
What does OP abbreviation mean on a bank statement?
The abbreviation OP that is seen on bank statements stands for originator plus. The abbreviation OP is typically used to describe a direct debit payment.
Why is a commercial bank considered a financial intermediary?
This is because it acts as an 'middleman' between investors and the firms raising the funds. In simple banking model, it is a link between depositors and borrowers.
Judgment against you but need to Cash a large check but no bank account?
I asked this same question for the same reason at my local currency exchange. the amount is 28K The exchange told me they would cash it with a photo ID and that they would pay me the first 5K in cash then write me 4 more checks to return each day thereafter and cash. The only thing they did say was they would probably call the bank and verify the funds and the payee. Also the cost of this transaction is high at about 500.00. Hope that helps? BG
Answer: Since the Grameen Bank was one of the Bank who financed to the poor people with the aim of reducing poverty and upgrading living standard particularly of rural population/ people. We know that the Garmeen bank model was one of the most widely researched micro-finance models all over the world because of it's unique working models. This Grameen bank had got four levels of structures, the lowest level being branch office and the highest level being the head office of the bank as a whole. The branch office supervised all the ground activities of the bank such as organizing the target groups, supervising the credit process and sanctioning loans to the members. This can be explained in more detail below.
The four tiers of Grameen Bank model are;
head office
zonal office
area office and
branch office
The communication starts from the branch office successively till the head office. The reports are prepared through branch office which is to be submitted to the area office then to the zonal office and finally to the head office. Under head office in Dhaka, it has many zonal offices looking after around 10-13 area offices. This area offices are entitled to supervise around 10-15 branch offices. there are 15-22 villages under each branch office. Utilization of loan and their recovery are supervised by the area office. All important issue related to the organization are raised from the branch office till the head office.
Grameen bank operates on the principle of mutual trust , supervision, accountability and members' participation. Unlike other commercial banks, which granted credit on the basis of collateral security, where as the Grameen bank did not demand any such security for extending/ lending credit (loans). This encouraged the poor group of people who does not posses such mortgage assets to borrow the loans from the banks. Thus most of the poor people depend upon the Grameen bank for assistance. The interest charged by Grameen bank was relatively higher than that charged by the other commercial banks, but it was it was lower than the interest charged by the money landers. They charges less than the moneylenders mainly to avoid the exploitation of the poor people by the moneylenders. And it was also to reduce the operational cost of the bank .
Grameen bank encouraged and landed the loans to help thousands of poor Bangladeshi women to improve their living by extending cheap loans to them just to start their own enterprises. Looking at those unique working model of the bank, the model was replicated (copied) across the world both by the developing and developed countries like USA ,England, etc.. So these are the things which make Grameen Bank different from the traditional commercial banks and of great success in the functioning till now.
By. Mani kumar. B.com.(2nd"D")
Gaeddu College of Business Studies.
