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About Jim Meadows
(Top Expert on this page)

Expertise
I can respond to most questions concerning consumer and business relationships with US financial institutions. My expertise touches on deposit and loan issues and particularly on strategies to navigate through bank policies personell and practices. I have a degree in Economics, attended law school, Graduate Shool of Banking, and Commercial Lending and Compliance Schools.

Experience
I have twenty years experience as a bank CEO. Most of those years were spent operating a bank focused primarly on serving consumer/retail needs. I helped pioneer deposit and loan products for low/moderate income individuals. I currently serve on multiple bank boards and am Chairman of a Commercial Bank in Atlanta.
   

You are here:  Experts > Real Estate > Banking: U.S. > Using Banks and Bank Accounts

SubjectDate AskedExpert

cashing a check11/19/2009Jim 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 ...
frozen acct.11/14/2009Shane
  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 ...
Post-Dated Checks requested by businesses11/12/2009Shane
  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 ...
Withdraw of funds from elderly parents account11/4/2009Shane
  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 ...
Frozen bank accounts11/2/2009Shane
  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 ...
Possible bank account of deceased10/26/2009Jim 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 ...
Cost of funds10/23/2009Jim 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 ...
Life Estate10/19/2009Alexander 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 ...
Searching for missing POD CD accounts10/19/2009Jim 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 ...
Safe10/15/2009Jim 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 ...
Credit Sales10/13/2009Jim 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 ...
banking10/10/2009Jim 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. ...
Credit Sales10/10/2009Jim 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 check10/9/2009Jim 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 ...
DEPOSIT/BOUNCED CHECK ISSUE10/9/2009Jim 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 ...
check signature10/7/2009Jim 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 ...
Real estate equity line loan issue10/6/2009Jim 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 ...
Federal Tax Return9/30/2009Jim 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 ...
Canceling auto draft9/19/2009Shane
  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 move9/9/2009Jim 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 ...
check deposit9/1/2009Shane
  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 ...
Legal consequences of a minor checking account8/30/2009Shane
  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 ...
Home Equity Line of Credit Reduction8/27/2009Shane
  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 ...
FInding a bank from long ago8/25/2009Jim 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 ...
Business Bank Accounts8/25/2009Jim 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 ...
Banking practice8/17/2009Shane
  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 questions8/17/2009Jim 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 ...
Burden of proof 3 questions8/16/2009Jim 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 ...
possible stolen check cashed8/15/2009Jim 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 ...
possible stolen check cashed8/14/2009Jim 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 ...
Turned 18 - parent with custodianship of major account8/13/2009Jim 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 ...
statute of limitations8/10/2009Jim 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. ...
IRS Levy and Bank charges8/8/2009Jim 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 ...
safe deposit box theft8/7/2009Jim 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 mortgage8/6/2009Jim 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 ...
credit card8/5/2009Shane
  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 ...
Help with gettin money for little brother on his own cd.7/30/2009Shane
  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 ...
Money transfer from Mexico to the USA7/30/2009Jim 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 & ...
fraudulent check7/28/2009Jim 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 ...
matured cd7/24/2009Jim 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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