| Subject | Date Asked | Expert |
|
| Borrowing from relative | 11/9/2008 | Shane |
Q: In order to pay off my mortgage, besides the money I'm going to pay, my dad is going to lend me ...
A: While I have very limited tax knowledge, I have never heard of anything for simply making a ...
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| Direct deposit | 11/7/2008 | Shane |
Q: My employer is making direct deposit mandatory, my current checking account has a legal hold on it. ...
A: Unfortunately you would not be able to receive a direct deposit to an account with your husbands ...
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| money market CDs | 11/4/2008 | Shane |
Q: I want to roll-over my IRA but have some issues I need to address. What is the differece between a ...
A: A money market CD sounds to me like it has to do with stocks and investments so a regular cd would ...
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| locating an old trust account | 10/30/2008 | Alexander J. Hay |
Q: Both my parents passed away within the last year. There was a will. However in the will there was no ...
A: A trust is totally separate from a will and as such would necessarily need to be mentioned in the ...
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| Wire Transfer | 10/22/2008 | Ryan White |
Q: My business account received a wire transfer in error. Whose responsibility is it to take action to ...
A: You should contact you bank and let them know about the error. It is possible that they transferred ...
|
| Savings Accounts | 10/12/2008 | Shane |
Q: 1, What does it mean when interest is compounded and credited monthly? 2, What about interest ...
A: While there is not a formula you can use, you can take your interest rate and multiply it by the ...
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| cashiers check | 10/11/2008 | Jim Meadows |
Q: I deposited a check on Tuesday for 40k then on Thursday after the hold period cleared i had the bank ...
A: Brad, Sorry, But this may well be your problem. Even though the bank released the hold on your ...
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| Cash advances. | 10/10/2008 | Shane |
Q: Hey Alex. A friend of mines has been doing cash advances for months now and they have always fell ...
A: The maximum I have ever seen a bank or financial institution give a personal unsecured loan for is ...
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| Cash advances. | 10/8/2008 | Ryan White |
Q: Hey Alex. A friend of mines has been doing cash advances for months now and they have always fell ...
A: I think Bank of America would be since they never received the funds from Wachovia. As far as B of ...
|
| staute of limitations | 10/7/2008 | Jim Meadows |
Q: I have a joint account with an ex girlfriend. I have no documentation that she owes me money, ...
A: Olin, The statute of limitations in AK is three years for fraud and five years for written ...
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| Cash advances. | 10/7/2008 | Shane |
Q: Hey Alex. A friend of mines has been doing cash advances for months now and they have always fell ...
A: In essence, yes this is a merchant error, should they have billed this at the proper time? yes. ...
|
| Hard inquiry from bank for opening checking account | 10/7/2008 | Jim Meadows |
Q: I just opened a a basic checking account with Bank of America at a local branch. No overdraft ...
A: Kyra, I think if you read the fine print in your account contract you will discover that BofA's ...
|
| Cashing a signed cashiers check I found | 10/4/2008 | Shane |
Q: While riding my bike I found a signed cashiers check for $550. I understand that a cashiers check is ...
A: I understand the temptation, however I wouldnt cash it. Your right that it is a bearer instrument, ...
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| Cashing a signed cashiers check I found | 10/4/2008 | Jim Meadows |
Q: While riding my bike I found a signed cashiers check for $550. I understand that a cashiers check is ...
A: Aaron, I presume the check is payable to someone. Cashiers checks are not bearer instruments but ...
|
| Finding a trust fund or custodial account | 10/3/2008 | Jim Meadows |
Q: Family members tell me that my great grandmother put money from rental income into an account for me ...
A: Jessica, If your grandmother left you money that means she had a will. Even so, as a minor your ...
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| VESTA*AT 11950SWGARD | 10/2/2008 | Shane |
Q: THIS IS A REOCCURING CHARGE ON MY BANK STATEMENT, CAN YOU TELL ME SOMETHING ABOUT, PLEASE ?
A: While I'm not too familiar with Vesta, I do believe it is some type of a fradulent charge. Perhaps ...
|
| opening a checking account | 9/30/2008 | Ryan White |
Q: what does the Patriot Act have to do with me opening a checking account? I have been told that ...
A: The Patriot Act requires banks to "help fight the funding of terrorism" by properly identifying all ...
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| Unauthorized Account Transaction | 9/29/2008 | Jim Meadows |
Q: I have an odd one. My wife and her mother are not on speaking terms. To make a long story short, her ...
A: Ryan, It could be a little troubling that the mother knows the account number(and presumably how to ...
|
| haveing direct withdrawl from accounts | 9/29/2008 | Jim Meadows |
Q: I have a checking account. over the years we have had things taken out of our account, dtv, long ...
A: Carrie, Your request to the magazine company should be in writing. You can also issue a stop payment ...
|
| reason for returned check | 9/28/2008 | Shane |
Q: we deposited a check for almost $2,500. for back rent owed. The check was drawn on a out of state ...
A: Banks usually will not return the check to you unless your account is not negative as a result of ...
|
| cost of funds | 9/25/2008 | Jim Meadows |
Q: i want to know in detail, what is cost of funds of a bank? what factors are included in it? n how ...
A: Summaira, There is more than one definition depending on the purpose used. Incremental cost of ...
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| Unauthorized transactions | 9/24/2008 | Shane |
Q: I hope you can help me... a few years ago I set up an account at Bank of America and I also put my ...
A: I do understand where you are coming from on this, however I know what happened. Your fathers ...
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| Unauthorized withdrawls | 9/24/2008 | Jim Meadows |
Q: I hope you can help me... a few years ago I set up an account at Bank of America and I also put my ...
A: Nicole, My advice is to close your acount and open another in your name only. Also, it appears that ...
|
| Business Check cashed | 9/22/2008 | Shane |
Q: A person collected checks from clients for a trip. The check(s) were made out to a travel agency. ...
A: If the bank had reason to believe that person was a representative of that business they would be ...
|
| Bank/S&L's withdrawls | 9/21/2008 | Shane |
Q: If I demand all my money deposited, howmuch can I get on demand and from which accounts and how long ...
A: Banks and Savings and Loan companies are the same on that aspect. Both are FDIC insured. This is ...
|
| banks and bank holding companies | 9/21/2008 | Jim Meadows |
Q: If a bank is owned or partially owned by a holding company, could it's depositors be affected by the ...
A: Pam, Each bank charter stands on its on. A bank's failure is not legally or financially related to a ...
|
| Checking account transactions | 9/20/2008 | Jim Meadows |
Q: I was balancing my check book last night and found that I was off somewhere between what I had ...
A: David, Sorry, my short answer is, I'm not sure. Most agreements between banks and merchants required ...
|
| US Citizens who have safe-deposit boxes located on swiss soil | 9/20/2008 | Alexander J. Hay |
Q: Are, United States citizens required to report to the Internal Revenue Service, any bank ...
A: No. But the IRS and other government entities would probably consider this a required reporting ...
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| US Citizens who have safe-deposit boxes located on swiss soil | 9/20/2008 | Alexander J. Hay |
Q: Are, United States citizens required to report to the Internal Revenue Service, any bank ...
A: This is not a crime, and I do not believe there are any reporting requirements. But it is not the ...
|
| what banks (usa or others) will open me an account without using chex ? | 9/19/2008 | Shane |
Q: what banks(usa or elsewhere )will allow me to open an account as I am currently on chex and can't ...
A: chexsystems is widely used amongst almost any financial institution. however there are some smaller ...
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| bank accounts | 9/17/2008 | Shane |
Q: Iam the owner of many LLC's. I never bother to check balances on accounts or moniter daily available ...
A: correct because when you added him/her to the account, that made them a legal 50/50 owner of the ...
|
| small claims court for negative balance | 9/17/2008 | Jim Meadows |
Q: i have accrued a negative balance of about $1000. dollars at my bank account for bounced checks over ...
A: Zip, I can't think of any standing you might have in small claims court. Your best bet might be to ...
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| FDIC insurance | 9/15/2008 | Jim Meadows |
Q: I Have money in a banking institution that has FDIC insurance on the account. I assume that since ...
A: John, Opening additional accounts at the same bank won't accomplish what you need unless they are ...
|
| FDIC deposit concern | 9/15/2008 | Jim Meadows |
Q: I have roughly $1,500,000 in cash and am concerned about FDIC coverage. Is it possible to have 15 ...
A: Brian, You could form 15 different trusts, but that would entail the expense of forming the trusts, ...
|
| Question on rights to signees in account | 9/15/2008 | Jim Meadows |
Q: Good morning Jim: I am a President to my Class Reunion with 6 members in my committee. I chose not ...
A: Deborah, My thought is that a majority of(or "full agreement in your case) committee should decide ...
|
| withdrawals from failing back | 9/13/2008 | Jim Meadows |
Q: my bank isn't doing well, Washington Mutual. I have my lives savings in it, 100k. I am not willing ...
A: Anxious, there is no tax upon withdrawing money from or closing your account. The $10,000 reporting ...
|
| stolen checks | 9/12/2008 | Alexander J. Hay |
Q: My mom just found out that two checks was stolen out of her check book. They was wrote out in the ...
A: The bank MUST refund the checks. However, your mother MUST follow through with the proper ...
|
| Stale dated check | 9/12/2008 | Jim Meadows |
Q: I have a stale dated cashiers check drawn from my account from a bank that was acquired. I'm still ...
A: Sandy, I'm assuming that the check is payable to you and that the check is more than six month old. ...
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| Custodial account | 9/2/2008 | Ryan White |
Q: Years ago I opened a custodial account for each of my children. A couple years ago the bank told me ...
A: A signer is another term banks use for legal owner of the account. If I understand correctly how ...
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| Custodial account | 8/28/2008 | Ryan White |
Q: Years ago I opened a custodial account for each of my children. A couple years ago the bank told me ...
A: I think I will address the custodial account first. Unless there is a specific age identified in ...
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