| Subject | Date Asked | Expert |
|
| cashing a check | 11/19/2009 | Jim Meadows |
Q: I wanted to cash an insurance check made out to me. The check is drawn by the bank I am attempting ...
A: Tawana, It's not illegal but it may be unreasonable. You should address the manager in writing and ...
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| frozen acct. | 11/14/2009 | Shane |
Q: my former bank, 1st mariner has canceled my accounts and froze it. because they think a payment i ...
A: I would have the credit card company send them something in writing via fax or mail stating the ...
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| Post-Dated Checks requested by businesses | 11/12/2009 | Shane |
Q: Is there a ruling in the PA banks that bar their customers from post dating checks to businesses?
A: yes and no. the government outlawed postdating checks several years ago, not making it illegal to ...
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| Withdraw of funds from elderly parents account | 11/4/2009 | Shane |
Q: I have a question relating to banking. My elderly parents and I banked at the same bank. I had my ...
A: yes it is legal it is the right to offset is your name is on their accounts they can legally recover ...
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| Frozen bank accounts | 11/2/2009 | Shane |
Q: I would like you to list all probable causes/reasons. Why are bank accounts frozen. Mainly personal ...
A: Peter, It would be nearly impossible to list all those reasons, however the majority of those ...
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| Possible bank account of deceased | 10/26/2009 | Jim Meadows |
Q: My father passed away 2 years ago and I am convinced he may have had a bank account my mother may ...
A: Mark, First you should check your father's belongings for deposit records. You could also examine ...
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| Cost of funds | 10/23/2009 | Jim Meadows |
Q: I am part of a financial institution named ABC Bank LTD(name changed. I am allocated a corpus of USD ...
A: Subi, multiply each deposit category by the annual rate (this will give you the annual interest per ...
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| Life Estate | 10/19/2009 | Alexander J. Hay |
Q: What does this mean in a will: "And I give to my wife a life estate in all of my property, ...
A: Essentially a life estate exists only in real property. It is an interest in property that vests ...
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| Searching for missing POD CD accounts | 10/19/2009 | Jim Meadows |
Q: My elderly aunt recently died. Her heirs, myself included, suspect we are missing some of her bank ...
A: Jack, your probate lawyer might give you better advice but I would think that a letter to any ...
|
| Safe | 10/15/2009 | Jim Meadows |
Q: 1. How do I keep valuable safe and last forever? eg. I think of buying a safe or vault that is ...
A: Henry, A bank safe deposit box is more secure than most home safes but not as convenient. I use ...
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| Credit Sales | 10/13/2009 | Jim Meadows |
Q: Jim, I would just like to ask about credit card sales from the perspective of the business and was ...
A: Johann, I read your original question as relating to consumer credit card sales. The example you ...
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| banking | 10/10/2009 | Jim Meadows |
Q: I have been at this one local bank for about 3 years i have had no problem with them but recently ...
A: Marcy, Credit Unions are not for profit financial institutions owned and governed by its members. ...
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| Credit Sales | 10/10/2009 | Jim Meadows |
Q: Jim, I would just like to ask about credit card sales from the perspective of the business and was ...
A: Johann, the merchant will receive the charged funds typically within a day or so of the transaction ...
|
| find a old check | 10/9/2009 | Jim Meadows |
Q: My father bought a piece of property from his brother in 1991. The heirs of his brother are denying ...
A: Jina, I'm not sure you will be able to retrieve a copy this old. However, your father did have a ...
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| DEPOSIT/BOUNCED CHECK ISSUE | 10/9/2009 | Jim Meadows |
Q: On 2/3 our company deposited 2 checks from the same company. All was good until on 3/6 those 2 ...
A: Leeann, I think your beef has to be with your customer/company. If their checks have cleared their ...
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| check signature | 10/7/2009 | Jim Meadows |
Q: I sign numerous checks each month and am considering purchasing a rubber stamp with my signature. Is ...
A: Charlie, Facsimile (rubber stamp) signatures are perfectly legal if approved by your bank. Your ...
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| Real estate equity line loan issue | 10/6/2009 | Jim Meadows |
Q: I have a 2nd trust deed equity line of credit on my home in the amount of $500,000. In 2007, I used ...
A: Paul, even though the banks may have managed the accounting of your line poorly, if in fact you owe ...
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| Federal Tax Return | 9/30/2009 | Jim Meadows |
Q: I received my husbands federal tax return some time ago but I have not cashed it because I cant seem ...
A: Mrs. Harvey, The most straight forward solution is what you have suggested: take the check to your ...
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| Canceling auto draft | 9/19/2009 | Shane |
Q: My partner and I recently refinanced our home loan through the bank where he works. As an employee ...
A: I have heard of some banks requiring that in order to receive the discounted rate, closing costs, ...
|
| international move | 9/9/2009 | Jim Meadows |
Q: I am not sure my question applies to your area. I am making an international move to Hawaii. I ...
A: Christy, you can check out bankrate.com which will detail fees on interest bearing accounts. I don't ...
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| check deposit | 9/1/2009 | Shane |
Q: I have two daughters at college and often write checks to deposit in their accounts. Of course, they ...
A: you could but its risky, because some banks require both payees (since this would now be a 3rd ...
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| Legal consequences of a minor checking account | 8/30/2009 | Shane |
Q: My dad and I opened up a checking account for me in 2001 when I was 16. It read: My Father's Name ...
A: this sounds very fishy to me, I almost wonder if the place claiming you had a "bad check" out there ...
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| Home Equity Line of Credit Reduction | 8/27/2009 | Shane |
Q: We own a home in a desirable area of CA, purchased in 1985, with hundreds of thousands of equity in ...
A: I work at a bank that is doing the same thing with credit lines. I understand that you are wanting ...
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| FInding a bank from long ago | 8/25/2009 | Jim Meadows |
Q: I recently found a banking deposit/withdrawal slip that my grandmother had for a "secret account" ...
A: Justine, "Stepson took the assets". I assume you mean that he took all but this asset. If he did ...
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| Business Bank Accounts | 8/25/2009 | Jim Meadows |
Q: I have two business bank accounts in which one gets deposited into every day, by my credit card ...
A: Lindsey, Typically the bank does not have the right to offset a corporate account to pay an item on ...
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| Banking practice | 8/17/2009 | Shane |
Q: is it a legal practice for the Nigeria banking system to change you a $30,000.00 A refundable charge ...
A: no that is an illegal scam. you should be very wary about any transactions regarding nigeria as it ...
|
| Burden of proof 3 questions | 8/17/2009 | Jim Meadows |
Q: I deposited a check into a trust account that is solely used for dispursing trust funds. the check ...
A: Mark, It's tough knowing you're right and nobody cares. My advice: let it go and lower your ...
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| Burden of proof 3 questions | 8/16/2009 | Jim Meadows |
Q: I deposited a check into a trust account that is solely used for dispursing trust funds. the check ...
A: Mark, Demanding that the bank prove it was not in error is probably not helpful unless you have ...
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| possible stolen check cashed | 8/15/2009 | Jim Meadows |
Q: i needed help with rent so my friend said he would let me borrow some money. he told me that we ...
A: Brianna, I wouldn't worry about proving that you did not steal the check until you are accused of ...
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| possible stolen check cashed | 8/14/2009 | Jim Meadows |
Q: i needed help with rent so my friend said he would let me borrow some money. he told me that we ...
A: Brianna, Sorry, I don't have any good news. When you cashed the check at your bank you ...
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| Turned 18 - parent with custodianship of major account | 8/13/2009 | Jim Meadows |
Q: After turning 18 in 2008, I was unaware of my bank accounts, but learned about them when asking my ...
A: Cathy, Parents and other custodians may be distressed to learn this, but the Uniform Transfers to ...
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| statute of limitations | 8/10/2009 | Jim Meadows |
Q: My mortgage company notified me this month of a transaction error that occurred in Feb 2002 ...
A: Sheila, Your state or local tax records might indicate when a payment was made and for how much. ...
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| IRS Levy and Bank charges | 8/8/2009 | Jim Meadows |
Q: IRS erroneously [not that they will ever admit this directly!]levied my bank account and I was ...
A: Your only recourse from the bank is sympathy. If you have had an account for years with no negative ...
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| safe deposit box theft | 8/7/2009 | Jim Meadows |
Q: I live in Atlanta, and several years ago, some cash in my safe deposit box "mysteriously" ...
A: Cindy, this would be a tough and expensive law suit but you are right in that it has and can happen: ...
|
| Student loan and mortgage | 8/6/2009 | Jim Meadows |
Q: I've been a student for the past 1.5 years. I've been receiving student loans to pay for tuition and ...
A: Jim, There is no way of knowing for sure but my guess is that increasing your debt could jeopardize ...
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| credit card | 8/5/2009 | Shane |
Q: I'm currently taking a economics class online, and I have been assigned to interview a financial ...
A: 1. lets take the purchasing of a car as an example person a has stellar credit, they will get ...
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| Help with gettin money for little brother on his own cd. | 7/30/2009 | Shane |
Q: My brother is 20 years old now.He is in job corps so he isn't allowed to leave the property,under ...
A: this sounds like an internal family thing that may need an attorney? basically if she passed away ...
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| Money transfer from Mexico to the USA | 7/30/2009 | Jim Meadows |
Q: I have family in Mexico that is interested in buying a home in the US so they want to transfer funds ...
A: Aaron, Wire transfers are not typically investigated. (though they maybe technically reported & ...
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| fraudulent check | 7/28/2009 | Jim Meadows |
Q: I received a cashiers' check from a marketing company for $4,965, it was supposed to be some kind of ...
A: Jose, yes it is legal for the bank to close your account even thought you did not intend to ...
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| matured cd | 7/24/2009 | Jim Meadows |
Q: On July 11,2009 I had a 12mo cd mature with Wachovia Bank. I called before the 11th asking if I ...
A: Ann, Unfortunately poor service doesn't usually rise to "illegal". I suggest writing the bank and ...
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