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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
Banks play a vital role to keep the flow of money in the economy in a controlled manner following the guidelines of RBI.
How do you get your account after you lost your bank book and account number?
You need to visit the bank and speak with a customer service representative. You should bring three forms of identification with you. You will need to prove without a doubt who you are and the bank will submit the proof to their main office. Before going to the bank you should check your records carefully to see if you have any old deposit/withdrawal slips or correspondence related to account.
Is it bank fraud to open an account with some one with bankruptcy in order for them to cash a check?
I would say yes. You do not want to committ that with a bank. If they were to find out that could lead up to jail time and then in a Federal prison if its a Federal bank.
How does a bank handle a 50k plus check?
I assume this is a US banking question? The bank will without question place the check on an "extended hold" which can be anything from 7-14 days normally and up to 30 days in the extreme. The primary goal being to make sure the amount clears and that it does not get reported back after clearing as a fraudulent check.
I would caution you if this was a "to good to be true" check, as even if the check clears the bank will come after you if it comes back fraud down the road. It is a common check fraud to give someone a check and then have some reason that your asked to send them back some funds. This can be as a "funding fee" if it was an investment or a "refund" for them sending you too much money to purchase something.
Often these checks are wrote on business checks and using banking information that was stolen from computer viruses and other means. A large corporation can spot these bad checks quickly, while a smaller may not notice so fast. I would suggest calling the bank the check is wrote from to make sure its real and good before you deposit it.
What is the difference between gross and net dscr?
Gross DSCR= Cash accruals ( Profit after tax + Depreciation) + Interest
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Installments of loan + Interest
Net DSCR = Cash Accruals (PAT + Depreciation)
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Installments
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What is the universal branch code for Nedbank?
The universal branch code for Nedbank South Africa is, 198765.
Not enough information is disclosed about the situation in order to answer. If you have an attorney assisting you in your bankruptcy ask them.
What is the explanation for the function of commercial bank?
A commercial bank refers to a normal bank that provides the basic banking services to the residents of a country.
Some of the different services available from commercial banks to its customers are:
- Checking/Current account
- Savings accounts
- Internet/Mobile Banking
- ATM Cards
- Check Books
- Deposit Accounts
- Loans
- Credit Cards etc
The Functions of a Commercial Bank can be classified as follows:
1. Primary Functions
a) Accepting of Deposits.
b) Lending
2. Secondary Functions.
a) Agency Services.
b) General Utility Services
3. Services through their Subsidiaries
a) Merchant Banking Services
b) Leasing.
c) Housing Finance.
d) Factoring Services.
e) Insurance Services.
Under general utility services we can include modern facilities provided by banks like, for example,
a) Locker Facilities and Safe Deposit Functions.
b) Autoamted Teller Machines (ATM)
c) Credit Cards and Debit Cards.
d) Tele-banking.
e) Internet Banking
f) Online Ticket Bookings.
g) Electronic Funds transfer.
h) Real Time Gross Settlement (RTGS) Service
i) Online tax payment services
M.J.SUBRAMANYAM, XCHANGING, BANGALORE
How much do you have to keep in a Bank of America savings account to keep it open?
You can have no money and still keep it open. Bank of America doesn't care if it doesn't have any money in it . If your savings account is linked to your checking account then it should be fine.
How does one set up an offshore savings account?
You can set up an offshore savings account by getting a reference from your current bank. You also need to be able to answer questions about how you are going to use the money and why you want an offshore account.
Can a minor account be open without guardian?
A minor is a person who has not attained the age of 18 years. According to Section 11 of the Indian Contract Act of 1872, a minor is not competent to contract and therefore any contract entered into with a minor is void abinitio (= from the begining) and therefore, are unenforcble.
However, banks encourage minors to open savings bank account, without their guardians, as long as that account runs in credit. Thus it helps S inculcate the habit of savings in the minor. The banker must see that he gives no
M.J. SUBRAMANYAM, BANGALORE
What types of bank accounts does Alpine Bank offer?
The Alpine Bank offers many different types of bank accounts including, personal saving accounts, personal checking accounts, Business checking/savings accounts and more.
A check issued by a bank that has typed information on it - as opposed to printed information - you usually only get a few of these until your "regular" checks come if you ordered any.
Where can you find the red truck ally bank commercial?
I can't find it neither!
: It is a radio controlled truck made by the Traxxas company out of Plaino, Texas. The model is called an E-Maxx
Is a bank required to notify you if your account is overdrawn?
No. That is why they send out monthly statements. If you do not monitor this for yourself then you will find out when you receive your statement. If banks had to notify every person that overdrew there acct in any given day that is all they would get done doing.
Why there is a difference between cash book and bank statement balance in bank?
There may not be difference between cashbook and bank statement balance in bank if all the payments and remittances are debited and credited in the bank account on the month itself.
It may not be possible under certain circumstances. For example if a check has been paid to the customer and if the customer has not deposited the check in his/her account naturally the bank account will show an excess balance corresponding to the check in question.
Similarly if a check remitted in the account needs clearing from other bank there also possibilities for difference.
In community property states, absent a will or beneficiary designation different(and even this might not be enforceable if the wife did not sign). Everything goes to the surviving spouse. Hopefully she likes the children.
I am not an attorney but I did go to a Holiday Inn Express today.
Scope and importance of public relation in commercial and non commercial organisation?
Public relations is a vital part of both commercial and non-commercial organizations. As part of an overall marketing plan, public relations allows commercial organizations to garner free and positive publicity in order to keep their name in mind of customers. Additionally, it allows non-commercial organization to reach out to their community to garner support, funding or action.
Technically, checking accounts do not rely on whether you have bad credit or not- the only thing that would stand in the way of opening a checking account is if you are registered in Chex Systems, which is a when a bank reports that your account becomes overdrawn and it remains in that state for an extended period of time. You just need to go into the bank (or website if you want to open up an account in an online bank) and apply. Just make sure that you use both your SSN and EIN while applying for business accounts.
Is a share account also known as a checking account?
No. A share account is essentially a savings account...
