| Subject | Date Asked | Expert |
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| Structuring | 6/11/2009 | Jim Meadows |
Q: I recently had a a very bad experience with customer service (both on the phone and at two branch ...
A: Alex, as long as your transactions are innocent, I would not be concerned whether or not a SAR is ...
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| Structuring | 6/11/2009 | Jim Meadows |
Q: I recently had a a very bad experience with customer service (both on the phone and at two branch ...
A: Alex, I wouldn't worry about the potential SAR. What you are contemplating is not a violation of any ...
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| beneficiary and custodian | 6/1/2009 | Jim Meadows |
Q: I am about to enter bankuptcy and I am the custodian on me childrens savings account.They are the ...
A: Brad. I don't think so. The ownership of the funds are your children's and should not be a part of ...
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| Disposition of custodial account on death | 5/29/2009 | Jim Meadows |
Q: My mom is the custodian of a savings account for my son (California). It is at a bank and is in ...
A: Sierra, You should check the version of the Uniform Transfers to Minors Act in effect in your ...
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| closing my mothers deceased checking account | 5/25/2009 | Jim Meadows |
Q: if im the only child of my mother can i close her checking account, if so how. she has no will or ...
A: Pam, The answer to your question depends strictly on state law, and on how the account was held. For ...
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| NSF Fees | 5/24/2009 | Jim Meadows |
Q: I had $46.00 in the bank, and some pending debit card items, these were all small debit charges and ...
A: Ev,Yes, this practice does seem rotten. Unfortunately the bank is covered in the fine print in your ...
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| Online Banking | 5/18/2009 | Shane |
Q: I bank with Wachovia and set up with online Bill pay to pay a bill on a particular day. Wachovia ...
A: unfortunately there is nothing you can do, post dated checks are not honored, the bank had every ...
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| bank fraud | 5/18/2009 | Jim Meadows |
Q: I went to buy a car. The dealer asked for $500 down and wanted me date the check for the same date ...
A: Crist, I think the "false information" statement by the dealer is his invention. However, there is ...
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| US Bank fraud procedures | 5/14/2009 | Jim Meadows |
Q: I opened my account with US Bank almost 16 years ago when I became disabled. I had been having ...
A: Tracy, You have rights but the bank has deep pockets to thwart any claims you might make against ...
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| Cashiers Check | 5/12/2009 | Jim Meadows |
Q: I went into Citibank where I have an account and requested a cashiers check. My account was debited ...
A: Nabou, You use the term cashier's check & official check. They are different. Cashiers checks are ...
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| unauthorized withdrawal "offset" | 5/8/2009 | Jim Meadows |
Q: Bank of America withdrew all funds from my personal bank account (over $1500) with no notification ...
A: John, In the fine print of the contracts (signature cards)for both of the accounts you mention is ...
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| Bank account signer legal responsiblitly | 5/8/2009 | Jim Meadows |
Q: I am an employee (technically a contractor) for a business owner who owns five business. I ...
A: Aly, Saying that "anything illegal that the owner does makes you responsible" is maybe overstated. ...
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| electronic bank transfer revokation | 5/7/2009 | Jim Meadows |
Q: I receive a regular monthly trust payment via electronic transfer from a bank in the same state in ...
A: Donna, state banking laws and the account contract you have signed gives the bank a wide latitude in ...
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| A bank has frozen my accounts | 5/7/2009 | Alexander J. Hay |
Q: Quite stupidly I fell for a scam. The scammer fedexed me a check, offering me a commission, if I ...
A: From what you said above, it would seem that you deposited a check but was allowed to wire the funds ...
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| Bank Trustees | 5/4/2009 | Jim Meadows |
Q: My great grandfather established a Trust with Mellon bank in 1933 for about $130,000. The last 2 ...
A: Linda, you might visit with an attorney. Your only recourse would be a law suit or the threat of ...
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| Locating a Trust Account | 5/4/2009 | Jim Meadows |
Q: When my first husband died in 1995, a trust account was set up for my then 1 year old daughter. She ...
A: Linda,I would suggest that you write Wachovia asking them for their help and provide them with as ...
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| closing deceased father's bank accounts | 4/30/2009 | Shane |
Q: My husband's father recently died and my husband is trying to take care of his finances. His ...
A: unfortunately only the signer of the account is able to close it, which in this case would be his ...
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| Post dated checks | 4/30/2009 | Shane |
Q: I seen the answer on post dated checks that it does not land on yur banks hands. I had a photo ...
A: I guess I dont understand the question fully. But based on what you put in there, if there were any ...
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| depositing checks | 4/30/2009 | Jim Meadows |
Q: I have a question for you. Can a authorized signer on a checking account deposit a check made out ...
A: Lesli, the endorsement can be "open" and if deposited the bank provides the endorsement "for deposit ...
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| Sold boat, they stopped payment on check | 4/28/2009 | Jim Meadows |
Q: I sold my boat couple weeks ago to someone who had $200 cash and wrote a check for $500 and he took ...
A: Nicole, As you've suggested,sounds like you have been cheated Your choices are: civil suit in small ...
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| money fund? | 4/21/2009 | Shane |
Q: ok i heard something about money fund but i'm not sure what it is and i have idle cash i'm 17 and i ...
A: cds are time deposits so if you put it in for 10 months for example if you needed to withdraw ...
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| Convenience fee? | 4/21/2009 | Jim Meadows |
Q: I am a student at a college in Iowa and recently cashed a difference check of about $4100 at US ...
A: Wayne, May not seem fair but banks are allowed to impose this sort of fee. Its not new, lots of ...
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| Forged Checks | 4/20/2009 | Jim Meadows |
Q: My Father recently passed away leaving no will, Never married but had a live in girlfriend of about ...
A: Anita,You've given the bank the opportunity to do the "right thing" and they have declined. This ...
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| Bank hold | 4/19/2009 | Jim Meadows |
Q: On a Saturday I attempted to deposit a check at a branch of my bank. The check issued by a local ...
A: David, First I suggest you ask your bank for their "Funds Availability Policy". Funds from your ...
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| deposits | 4/10/2009 | Shane |
Q: My ex recently mailed me a check for $900 that I deposited into my checing account. The next day I ...
A: whichever account you deposited the funds into they would put a hold on. There is no such thing as ...
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| My Bank is Consistently Allowing The Same Check To Clear Twice | 4/10/2009 | Shane |
Q: My credit card company has been consistently clearing the same checks twice. My bank has informed ...
A: your bank is absolutely 100% correct. Your credit card company is the person withdrawing the funds, ...
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| FDIC | 4/8/2009 | Shane |
Q: What is the status of legislation to PERMANENTLY increase the FDIC insurance limit to $250,000 on ...
A: interesting you asked me this, I had a customer ask me this just today. As of right now I have not ...
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| Bank account garnishing | 4/8/2009 | Shane |
Q: I wonder how, exactly, creditors are able to find any bank accounts a person might have? Do they ...
A: They do not check with every bank and credit union. They have a system they use that goes by your ...
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| Closing a garnished account | 4/3/2009 | Shane |
Q: I have recently had a Child Support garnish "freeze" put on my checking account where no money can ...
A: legally, the bank cannot allow you to close that account until the garnish is removed. Please note ...
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| Minor's responsibility on checking acct | 3/31/2009 | Shane |
Q: I had a custodial account with my son. He tried to cash his paycheck against it, but was told he ...
A: the bank cannot hold him responsible for something if he is under 17 especially if it is custodial, ...
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| Unstimulating Overdraft fees at banks | 3/29/2009 | Jim Meadows |
Q: I am from NH. I would like to know what bank in NH has the lowest overdraft fees or if there is a ...
A: Jean, can't find one. To keep NSF's down, I suggest a bank which offers a line of credit tied to ...
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| custodial account | 3/28/2009 | Jim Meadows |
Q: My grandfather set up a custodial account for me that under New York law was supposed to transfer to ...
A: Tiffany, Your question is best directed to a NY attorney. However, a Custodial Account usually ...
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| minor account opened without the minor knowing about it | 3/27/2009 | Shane |
Q: My 19 year old son went to open up his first checking account. The bank that he went to told him ...
A: generally chexsystems doesn't report to the credit bureau, however it is possible that the bank did. ...
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| Transferring Savings | 3/26/2009 | Shane |
Q: 5%. I recently opened up another savings account with a bank offering 2.5%. I heard that if I ...
A: no. the limit is actually 10k and that is only if it is an actual cash transaction. I open ...
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| find past bank account statements | 3/26/2009 | Shane |
Q: I opened a bank of america bank account in mannassas, va back in October of 2001. We moved to Ca in ...
A: you should be able to call Bank of America at 1-800-432-1000 and see if they can look you up by your ...
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| cashing a check to a business | 3/20/2009 | Jim Meadows |
Q: I work as an independent contractor. The broker I work for required us to become corporations or ...
A: Molly, The bank requirement is not exactly a legal requirement but a bank "policy requirement" and ...
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| Stale cashier's checks and SOL | 3/19/2009 | Jim Meadows |
Q: Jim, my bank has contacted me that they must pay some 2004 cashier's checks to my landlord, my ...
A: Jorge, CA like other states, has a statute which deals with "stale dated" checks. The statute ...
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| Paying Taxes on CD's | 3/14/2009 | Jim Meadows |
Q: Are CD's considered income if you move them from one bank to another during the grace period. Thank ...
A: Pat, only the interest earned on a CD is income. Moving the CD around does not have anything to do ...
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| cashing an irs check | 3/8/2009 | Jim Meadows |
Q: What is wachovia banks rating now and also what banks will cash irs refund checks?
A: Emily, Wachovia is rated "below Peer" by bankrate.com. But as long as your deposit is insured I ...
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| Maestro and Mastercard Debit | 3/6/2009 | Alexander J. Hay |
Q: I am from the United Kingdom and would like to know why you can no longer use a Maestro debit card ...
A: Did you follow the links I provided? There is a lot of information on both. You are going to need to ...
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