| Subject | Date Asked |
|
| frozen acct. | 11/14/2009 |
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 |
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 account | 11/4/2009 |
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 accounts | 11/2/2009 |
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 ...
|
| Canceling auto draft | 9/19/2009 |
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, ...
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| check deposit | 9/1/2009 |
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 |
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 |
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 ...
|
| Banking practice | 8/17/2009 |
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 ...
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| credit card | 8/5/2009 |
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 |
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 ...
|
| fraudulent checks | 7/21/2009 |
Q: Can you please tell me the procedure you follow concerning a fradulent check. A little information: ...
A: generally yes I have seen it go this way. The reasoning behind that is for loss prevention reasons. ...
|
| bank accounts | 7/20/2009 |
Q: My mother recently had a heart attack, as a result of this she became afraid that if she died no one ...
A: if she added you as a beneficiary, no, if she added you as a signer, if the account were to become ...
|
| Closing out a CD | 7/16/2009 |
Q: Shane, My brother is the trust appointee on an account with my deceased father. The money is a ...
A: this is actually standard procedure that I have seen in the event of a trust account. In order to ...
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| check deposit protocols | 7/11/2009 |
Q: Three checks were issued to me. Another person signed my name as endorsement and deposited in their ...
A: I am very sorry to hear of that. You are absolutely correct, things were not handled properly. I ...
|
| Online Banking | 5/18/2009 |
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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| closing deceased father's bank accounts | 4/30/2009 |
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 ...
|
| Post dated checks | 4/30/2009 |
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 ...
|
| money fund? | 4/21/2009 |
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 ...
|
| deposits | 4/10/2009 |
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 ...
|
| My Bank is Consistently Allowing The Same Check To Clear Twice | 4/10/2009 |
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, ...
|
| FDIC | 4/8/2009 |
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 |
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 ...
|
| Closing a garnished account | 4/3/2009 |
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 |
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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| minor account opened without the minor knowing about it | 3/27/2009 |
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. ...
|
| Transferring Savings | 3/26/2009 |
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 ...
|
| find past bank account statements | 3/26/2009 |
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 ...
|
| Check Fraud | 2/27/2009 |
Q: My father's live in care taker forged my fathers name on checks that she wrote to herself. She was ...
A: checks are honored by an electronic system, you could sign your neighbors check for them if need be ...
|
| credit card cash advance | 2/19/2009 |
Q: say i have a credit card with a 3300 cash advance limit would i be able to go to a bank and make ...
A: possibly. most card companies severely limit the amount you can get as a "cash advance" for ...
|
| bank drafts | 2/12/2009 |
Q: My wife and I have a pretty basic question. How can a company go into a person's checking account ...
A: What they have done is originated multiple ACH debits. If I had to guess, I would say they must ...
|
| Private Student Loan | 1/29/2009 |
Q: I'm in the process of trying to get a private loan to cover the school-related expenses that my ...
A: The purpose of having a co signer with good credit is so they can average your score with their's ...
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| Bank NSF fees on already pending items | 1/8/2009 |
Q: "Please help me... Using rounded/ficticious amounts for easy addition Ckg balance $201 4 items ...
A: no, Almost every bank processes items that way and not to get customers to NSF either. When you ...
|
| saving money | 12/23/2008 |
Q: What is the differnce between a Certificate of Deposit and a government savings bond? What are ...
A: a CD is insured by the FDIC, the average rate nationwide is roughly 3% for a 13 month term. a ...
|
| Certificate of deposits | 11/26/2008 |
Q: I am a USA citizen but I have two nephews in Madrid, Spain that are under age, I want to open an ...
A: You would want to set up it up "in trust for" or "payable upon death" with their names, dates of ...
|
| negitive acc. | 11/21/2008 |
Q: I have gotten myself into a bad situation and was wondering if what i am thinking of doing is not ...
A: doubtable they will come in and take all of your money because the generate revenue on those fees as ...
|
| Borrowing from relative | 11/9/2008 |
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 ...
|
| Direct deposit | 11/7/2008 |
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 ...
|
| money market CDs | 11/4/2008 |
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 ...
|
| Savings Accounts | 10/12/2008 |
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 ...
|
| Cash advances. | 10/10/2008 |
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 ...
|
| Cash advances. | 10/7/2008 |
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. ...
|
| Cashing a signed cashiers check I found | 10/4/2008 |
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, ...
|
| VESTA*AT 11950SWGARD | 10/2/2008 |
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 ...
|
| reason for returned check | 9/28/2008 |
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 ...
|
| Unauthorized transactions | 9/24/2008 |
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 ...
|
| Business Check cashed | 9/22/2008 |
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 ...
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| Bank/S&L's withdrawls | 9/21/2008 |
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 ...
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| what banks (usa or others) will open me an account without using chex ? | 9/19/2008 |
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 ...
|
| bank accounts | 9/17/2008 |
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 ...
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| interest rates | 8/26/2008 |
Q: This might not be the right place to ask this but here it goes: I heard that credit card intrust ...
A: credit card fixed rate is the best as long as its not a short term promotion where the interest is ...
|
| bank transaction question | 8/24/2008 |
Q: I do my banking online, and I noticed a transaction on a Friday that said MEMO CREDIT . But...the ...
A: I work at national city bank where memo credit and memo debits are used all the time. memo debit is ...
|
| custodial acct. | 8/8/2008 |
Q: My son has a custodial acct and will not come due until he is 21. He has just turned 18 and would ...
A: Im not too familiar myself with brokerage accounts as that is generally handled through the ...
|
| frozen account | 8/4/2008 |
Q: My refund was direct deposited into a frozen account. Should the financial institution have ...
A: If you owed money on the account, yes they will accept the deposit and apply to whatever is owed. ...
|
| foreign banking | 7/29/2008 |
Q: Is it feasible to deposit money in a foreign bank from the U.S., to take advantage of the interest ...
A: While I have heard of that being done I wouldn't advise it. The US Government has placed an act in ...
|
| Opening account with etrade | 7/25/2008 |
Q: I like to open an account to buy a stock with the etrade online. Even though online they indicate ...
A: You should be able to check www.fdic.gov and verify it. However, I can tell you that Etrade is a ...
|
| forced closure of checking account | 7/21/2008 |
Q: I have had an account at a local bank for over a year and a half now--and have just gotten to ask ...
A: I dont believe they can threaten to close your account if you already have one open. However, they ...
|
| bank dispute | 7/19/2008 |
Q: I recently tried to close a bank account, and they told me that the account had a negative balance, ...
A: It is in your account agreement of what the fees are. In this case you do not have any recourse. ...
|
| charge off to close account | 7/16/2008 |
Q: i found on my online statement the words charge off to close account. i have been stuggling with it ...
A: If an account is charged off, that means they are closing the account "loss prevention." They ...
|
| cd/ investing | 7/10/2008 |
Q: I have $5,000 that I am willing to put into a cd, however I don't understand how they work, how does ...
A: cds are time deposits. You first have to select a term some places start off at 32 days. We will ...
|
| atm card | 7/7/2008 |
Q: My son will be traveling for awhile. He wants to open a bank account and get two ATM cards. This way ...
A: Banks generally will issue one card per signer on an account. The reason for this is of course loss ...
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| fraud | 7/7/2008 |
Q: A friend of mine is declaring bankruptcy. She recently received a $10,000.00 reimbursement check ...
A: You are very wise to be apprehensive on this. I would highly advise you to not perform this task ...
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| Savings in foreign currency | 6/28/2008 |
Q: I have been trying to find a way to do this but have been stuck at every turn! What I want to do is ...
A: You will want to contact the foreign currency department at your local bank. I have never seen this ...
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| Opening an account with bad credit | 6/19/2008 |
Q: I am trying to find a bank or other financial institution that doesn't really care about my credit ...
A: Antoinette, The feedback you gave me I feel should be amended. You gave me a 7 for timeliness. I ...
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| Non-profit Banking | 6/19/2008 |
Q: I have very recently opened a non-profit company, but have not yet sent in form 1023. How can I open ...
A: You will need to wait until you get your letter from the IRS showing it is a non profit company. If ...
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| check cashing | 6/19/2008 |
Q: How can I verify a check sent to me in the mail, after banking hours. Or "If a check sent to me is ...
A: generally you can call the bank that it is drawn off of. The bank i work at, on the automated ...
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| Interest on checking accounts | 6/14/2008 |
Q: I have a depository/checking account with Chase, in the city where I live. The account pays ...
A: That sounds right to me....smaller banks will do pretty much anything they can to keep funds in ...
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| A forgery claim | 6/6/2008 |
Q: I was divorced in October of 2007, on December 31, 2007 my ex filed an affidavit of forgery against ...
A: If the check was made out to your ex and you signed his name, even with his permission it is ...
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| cahing federal income tax return check | 5/16/2008 |
Q: I have tried to cash a regular federal income tax return check made out to myself and my wife. The ...
A: Daniel, It is absolutely the banks responsibility and right to verify each and every signature and ...
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| CD's | 5/15/2008 |
Q: Are there other choices besides banks that may be better to obtain CD's? Or are there other short ...
A: Some banks may offer you a promotional money market. the bank I am with for example offers 3.25% ...
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| bank closed | 4/11/2008 |
Q: my friend had a insured policy for his mother but the bank closed down and has changed several ...
A: Generally a bank sells insurance on behalf of insurance companies. For example, the bank I work for ...
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| stolen check which were fraudulentley signed and cashed at my bank | 4/11/2008 |
Q: I had come to realize when I started going through my old personal checking account statments that ...
A: Im sorry for the delayed response. It appears that everything is being handled correctly by all ...
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| can i open another business account | 3/29/2008 |
Q: I have a corporate business account that has my husband as just a signer in case anything happens to ...
A: As long as he is not a signer on the account that you open, legally nothing can happen to that ...
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| CHECK CLEARING | 3/22/2008 |
Q: Is there a legal set time it should take a bank to clear a deposited check?
A: There is no legal set time that a bank has to clear a deposited check. However, it shouldn't take ...
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