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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
Where can college kids open a student checking account?
A student checking account is a very important thing to have. Students should all select a bank to safeguard cash until it is needed for food or other necessary things. The most banks have the option to open an account. Also the bank in your neighborhood probably and if not then, the internet can help you further.
I want e-mail that has a Do you need a reply to this?' setting. Choose yes' and if there is no reply from that pesorn in x days, it sends the exact same email again, and again, and again, until the pesorn either responds or tells you to f*** off. :)
Can a creditor garnish a checking account without giving notice or getting permission?
Absolutely .I used to locate assets for a large motor credit company for accounts that have already been sued and one of the consumers I was trying to locate assets on had been on America's Most Wanted during the time a judgment was being placed on him . basicly he was nowhere to be found and was still sued for the debt and i was trying to find any bank accounts this guy had. I would like give the name of the person or creditor, but I would be in some serious dog doodoo
If a person is added to someone's checking account are they both responsible for an overdraft?
yes both partys will be responsible
You would file suit in the appropriate state court just the same as you would sue any individual or business.
Contact the office of the clerk of the circuit court to find out how to obtain the necessary forms and filing information. Please remember, that court clerks cannot give legal advice or assistance but can only answer general questions pertaining to the state's judiciary procedures.
AnswerIs there a way to sue a bank such as bank of America because they are constantly stealing money from my account by rearanging transactionsso that the account can bounce all debit activites should come right out at the time of purchase instead they hold them and place the higher one on top to try and bounce the account when call to complain they can not explain to you what has happen to your account. when you ask to speak to a manager the manager is never able to talk with you. I pray that they get robbed eveyday just like they rob the hard working people that they rob every day.
Answer to the second question.
Probably not. You might want to look at the paperwork you were given when you origionally opened the account. I would look for a truth in savings disclosure. You will probably find a sentence that says something like"All transactions will be paid starting with the largest transaction to the smallest transaction." there for they have disclosed to you there policy. This is pretty common for banks to do. Second there are two types of debit transactions credit based(visa/mastercard) or ATM(pin based). ATM transactions usually post according to cut off times. Transaction done before 3pm will post the day they are done and transactions after will post the following day. This do reflect in your balance imediatly. Credit based transactions are more like writing a check and can not be fully posted to the account until they are presented for payment which is usually within one business day of when the transaction occurs.
How do you write an authorization letter to act on behalf?
I have a savings account in your bank on my name ( savings bank A/C No ---). I want to collect my ATM card .As i am working in -------------- , i am not able to come and collect the same in person .Therefore I hereby authorise my wife Mrs ------to come and collect it on my behalf . I will appreciate your help in this case .
Can you check how much money you deposit to your account?
Sure. It is your account and you can always check that. Most banks give a passbook or a statement on the account on a regular basis (usually once a month). In case of a passbook, you can get it updated by the bank teller to show the list of transactions and confirm/check the amount deposited into your account. Also, when you deposit money into your account, a transaction advise will be generated and provided by the bank teller. You can use that as well to check the same.
Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
Can you pay my speedy cash payday loan with my checking account?
Yes- in fact they expect you to! You can either give routing information to Speedy Cash so that they can arrange an ACH* payment, get the routing number for Speedy Cash in order to set it up yourself if your checking account comes with online banking, or writing a check that would draw from your account.
* ACH stands for Automated Clearing House, the method used to process electronic payments.
Can a lienholder garnish your checking account in noth caroloina?
Possibly yes with a court order. And for sure they may garnish your wages. A common method for creditors to collect money when debts become extremely delinquent is wage garnishment. In order to garnish, an unsecured creditor (one for which there is no collateral securing the debt, i.e. credit cards, personal loans, medical bills) must first sue the debtor. Typically this does not occur until the debt is around six months delinquent. The creditor sues in either small claims or civil court, depending on the size of the debt. If the outcome of the trial is in favor of the creditor, they then obtain a judgment. A judgment allows the creditor more options for debt collection. Usually, the first collection method a creditor will use is wage garnishment. Your employer is notified by the sheriff to withhold a portion of your wages. That money is then sent to the sheriff who deducts his costs and forwards the rest to the creditor. Unsecured creditors in most parts of the country can garnish 25% of the debtor's net pay. Net earnings are gross earnings less all mandatory deductions. However, 30 times the federal minimum wage (about $150) a week is considered exempt, and can't be touched. So, if a debtor's net pay is $400 a week , $100 is available to the creditors, leaving the debtor $300 a week. If, though, the debtor is earning $160 net a week, only $10 is available to creditors because $150 is exempt. If a debtor is sued by more than one creditor, the creditors must either wait in line to garnish, or, more rarely, share the 25%. For most debts, the total amount garnished cannot exceed 25%. Other exempt income sources include: Cash welfare benefits (Temporary Assistance for Needy Families, GAU, etc.), Supplemental Security Income (SSI), Social Security, Unemployment Compensation, student loans, grant or work payments, and almost all pension and retirement benefits. For all of these exemptions, both the monthly check you receive and any savings you have which you can show came from these sources are usually exempt. Before your paycheck is garnished for the first time, you will receive a wage withholding order from your employer. This withholding order provides information and instructions for filing a claim of exemption. On the top right hand corner of the withholding order is the address of the appropriate clerk's office where you will need to file the exemption. The cost to file the exemption is eight dollars and may be a way to substantially reduce the amount you are required to garnish. This is an opportunity for you to have a hearing in which to list your living expenses and make clear any attempts that you have made to handle the debt without garnishment. It is a good idea to file the claim soon after receiving the withholding order because it can take a month or two for the hearing to be scheduled, and you may resolve the debt without garnishment during that time. If you don't file a claim of exemption, the wage withholding begins 30 days from the judgment date and continues until the debt is paid off, as long as you remain employed, unless other arrangements are made. It is possible to try to negotiate with creditors at this point, but difficult to come to an agreement on an arrangement that the creditor would be more willing to accept than 25% of your net wages. It is illegal for an employer to dismiss an employee for having one wage garnishment. If, however, the employee has more than one creditor garnishing for more than one debt, there is no legal protection. It would be wise for a debtor in this position to approach his employer and assure him that the situation is being taken care of as quickly as possible. For past due child support payments, delinquent student loans and back taxes, many regulations do not apply. For example, up to 50% of the non-custodial parent's wages can be garnished for delinquent child support or alimony if made into a court judgment. The parent has an opportunity to object if the amount is incorrect or will leave him or her with insufficient income to survive. State and federal student loan agencies, and sometimes the collection agencies that represent them, can garnish 10% of the former student's wages administratively. That is, they do not need to sue or obtain a judgment for the garnishment to go into effect. The borrower is notified in writing before his employer is contacted and given the opportunity for a hearing if he disputes the debt. The Internal Revenue Service needn't sue to garnish wages either. Only $116 net a week is automatically exempt from garnishment by the IRS. As with unsecured creditors, the wage withholding order provided to the employee has instructions on how to claim exemptions to possibly modify the amount garnished.
Yes, if the creditor wins files a lawsuit and wins a judgment the judgment can be executed as a bank levy against checking or credit accounts held by the debtor even if the accounts are joint. Unsecured debt means that specific property has not been used as collateral to secure the debt owed. The judgment creditor generally has several options which can be used to recover monies owed, such as wage garnishment, bank account levy, seizure and liquidation of non exempt property and liens against real property. States establish laws that designate the type and amount of real and personal property that can be protected from creditor attachment. In most cases the exemptions allowed in bankruptcy are the same as those used to protect property against judgment enforcement. Federal non bankruptcy exemptions (such as exempting SS benefits) can also be used depending upon the individual's circumstances. The above answer doesn't make total sense, North Carolina is a no garnishment state other than tax, government, state hospital (sometimes) and child support. You may want to consult and attorney if you live in North Carolina and double check the above posters answer. There rules vary from state to state. North Carolina is also a joint tenant state which means joint accounts are protected if one of the individuals on the property or account isn't owner of the debt owed.
not the smartest thing to do moneywise,for several reasons, you can get more interest in A CD,you can not access more cash than A couple hundred bucks A day at ATM, but if you lose the ATM card (eventhough the person does not have your PIN) someone can empty your account in A day,Go to walmart, buy something, use your debit card, NO ID REQUIRED, They accept and smile.,,, MOST BANKS offer free checking,and CD's, my advice do that., Jamison.
Can you remove a name from a joint account with that person's permission?
Yes, but both co-owners must sign the paperwork at the bank to make one of the account holders just an authorized user, meaning that the other has the right to sign checks and make deposits, just as a co-owner does. the only difference is that the statements would only be the sole account owner's name and no creditor of the authorized user can touch it.
Bank Overdraft is a facility wherein a bank customer can withdraw more money than what is actually available in his/her account. Let us say I have an overdraft account with ICICI Bank and have only Rs. 5000 in my account, I can withdraw even 15000 or 20000 from my account. I will have to repay this money that I took from them in future or else they will charge me an interest. The bank will also set an Overdraft limit which will define how much money over and above my bank balance I can withdraw.
Why do banks require a minimum checking account balance?
The bank expects or rather needs you to maintain a certain minimum balance for them to be at a situation where it not a loss for them to maintain an account for you. Maintaining a bank account for a customer requires certain resources and the bank provides us in return for our commitment that we shall maintain the minimum balance requirements. If we fail to do so, it becomes unfeasible for the bank to provide the facility and hence they charge us a penalty when you go below the minimum balance requirement or '0' for worse case scenarios.
How long can you keep a deceased person bank accounts open?
It can stay open if it is a joint account. Usually it stays open for months until all bills are paid by the joint owner.
How can bank accounts be used to control and manage cash in a business?
Most banks offer two services to business customers which help to control and manage cash. One is overdraft protection - so if a company spends more than it has, they get an automatic "loan" to cover the shortfall. The other service is normally referred to as "sweep". Each night, the bank "sweeps" excess cash (the actual amount in the account above some pre-determined amount) and invests that money overnight resulting in interest income for the company. Of course, this would include the amounts for all outstanding checks, so the amount invested is maximized.
Is green tree financial affiliated with Bank of America?
Good question. Last year Bank of America transferred the servicing of the 2nd mortgage I had on a home that foreclose to Green Tree. BOA did this after foreclosure and Green tree is after me for the remaining deficiency balance even though I have no home!
Can joint checking accounts be frozen for a husband's credit card debt?
Yes. The only exception is if the married couple live in a state that allows joint marital accounts to be held as Tenancy By The Entirety (TBE).
Can your checking account still be charged after you close it?
No. once an account is closed, it ceases to exist. It is no longer a valid account that can be used for transactions. So if someone wants to charge you for anything, they cannot use this bank account. Even the bank cannot charge anything on that account.
