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Using Banks and Bank Accounts/Questions Answered by Expert Jim Meadows
| Subject | Date Asked |
| Bank Account Protection | 10/25/2011 |
| Q: Are bank savings accounts protected against identity theft withdraws? For example, if someone ... A: Kenneth, the bank is generally liable for unauthorized withdrawals. Exceptions can include your ... | |
| Disposition of custodial account on death | 7/29/2011 |
| Q: My mom is the custodian of a savings account for my son (California). It is at a bank and is in ... A: Bob, I'm assuming she is custodian under the Uniform Transfer to Minors Act UTMA. States have widely ... | |
| Post Dated Check | 7/23/2011 |
| Q: I am renting a home and the renter finally made arrangements for her bank to send a check for the ... A: Carolyn, The Uniform Commercial Code adopted by all the states basically gives the bank the right to ... | |
| Joint Checking accounts garnished | 6/19/2011 |
| Q: My boyfriend has a bit of a rocky financial past. He accrued a lot of debt and is currently doing a ... A: Nicole, not familiar with NY law. Ask the creditor in writing to verify amounts owing including all ... | |
| frozen bank account | 6/17/2011 |
| Q: My dad passed away 3/25/11. His bank account (Banco Popular in PR)is frozen ($2000.00) I appear on ... A: Maria, My first advice is to ask the bank exactly what they need to release the funds. You may have ... | |
| I need help choosing a new bank. | 5/11/2011 |
| Q: I currently have my money in Bank of America (a savings account and a checking account). Now Bank of ... A: Charles, Keep in mind that until December 2012, checking account deposits are insured with no upper ... | |
| how best to protect myself | 5/10/2011 |
| Q: I want to hire a third party to pay my bills and manage my banking transactions, but I don't want to ... A: Betty, I'm sure there are ways to do what you suggest, but not without either taking what I think is ... | |
| Depositing large sums of money and its security in the bank | 4/29/2011 |
| Q: I know FDIC insures deposits up to a limit, what if the deposit was considerably more, how do you ... A: Troy, individual deposits are insured to at least $250,000. Non interest bearing checking account ... | |
| fraudulent checks | 3/16/2011 |
| Q: I work for a jewelry business in New Jersey which had six of its checks copied. The bank( Columbia ... A: Carol, can't tell if you are inquiring on behalf of yourself as an employee or as an agent for your ... | |
| Omission of the Truth | 3/8/2011 |
| Q: I opened a Basic Checking Account with Citibank today but only because I was told that it would ... A: Layla,If you already had an account with CIti, the credit inquiry would likely be a "soft inquiry" ... | |
| ex spouse / acct deposit/withdrawal | 1/5/2011 |
| Q: AFter close to a year and a half I am learning of MORE fraud issues from my ex. After being notified ... A: Meg,you may have a claim but its likely against you ex. Given his behavior, collecting might be ... | |
| Chex-Systems | 11/26/2010 |
| Q: I just closed my checking account as my bank was having to many problems. I went to open a new ... A: Elizabeth, Yes you should be able to negotiate a lesser amount but that doesn't mean that the ... | |
| Old Bank Account | 11/22/2010 |
| Q: I found an old bank book belonging to my deceased parents from 1963, with $1.00 in the account. The ... A: Carol, the account is not likely to still exist. The bank probably absorbed the $1.00 as a service ... | |
| post dated check | 11/19/2010 |
| Q: We own a small business in Phoenix and one of our clients came in on Wed and pick up their products ... A: Joey, As you've discovered, bank's don't check dates/signatures on checks. Most all state laws allow ... | |
| joint accounts | 11/16/2010 |
| Q: About a month ago, the guy I was seeing added me to his business account at USBank. I thought I was ... A: Cindy, If you are a joint account holder, you have the authority to close the account. I suggest ... | |
| CHASE online banking | 11/12/2010 |
| Q: I have a CHASE bank account and I'm using online banking. Today I tried to log-in to my online bank ... A: Nico, I pasted contact info below from Chases's fraud site. You can google "Chase Bank Security" for ... | |
| irsrefundchecks | 10/13/2010 |
| Q: I recently found some irs refund checks that my father had put away and never cashed them. They go ... A: Carol, my understanding is that checks older than one year must be replaced in order to be cashed or ... | |
| Average Balance | 10/10/2010 |
| Q: My mother recently changed banks and made deposits on three different dates in regards to a new ... A: Harry, all banks basically calculate interest the same. The information you furnished is not enough ... | |
| Money Transfers from Mexico | 10/7/2010 |
| Q: Are there current restrictions on the amount of money that can be transferred from Mexico to the ... A: Leslie, sorry to be tardy responding to your question, I've been oddly enough in Mexico. There is no ... | |
| CD Early Withdrawal | 10/6/2010 |
| Q: I think the answer to this question is no but when a person is charged a early withdrawal fee on a ... A: Ron, This is beyond my area of expertise but I have pasted a paragraph below which to support the ... | |
| NCUA Insurance | 10/5/2010 |
| Q: Meadows: Due to a higher interest rate and early-withdrawal privileges I can not obtain elsewhere, ... A: Glen, there is little or no chance for depositors to expect anything in liquidation or sale of a ... | |
| Primerica left me with over draft fees | 9/27/2010 |
| Q: I was scammed by a primerica rep in 2005 not knowing she was really using me to buy insurance, she ... A: Michelle, As to the OD fees,if you feel you don't owe the money write and tell them and instruct ... | |
| FDIC restrictions | 9/21/2010 |
| Q: If the FDIC takes over a bank where we have 4 bank accounts (2 checking in my & my husbands name and ... A: Becky, in almost all cases, when the FDIC closes a bank it's deposits are assumed that day by ... | |
| lost interest on saving acct. | 8/14/2010 |
| Q: Mr. Meadows, I have a saving acct. which pays int. of 1.4% APY, if during any given month I made at ... A: Vlad, Your best option is to ask a branch manager to give you a pass, explaining your error. May not ... | |
| insurance check for body work | 8/11/2010 |
| Q: I was recently in a minor car accident and received a check ($1,100.00)from my insurance company ... A: Wayne, I agree with your wife. I think its generally OK if she thinks it's OK. Your signing her name ... | |
| unknown accounts | 7/11/2010 |
| Q: If you are told deceased had 2nd account you don't have paperwork for (girlfriend destroyed alot of ... A: Kandace, Banks often mail or e-mail periodic statements. If possible review the deceased's mail ... | |
| Authorized Signer on Personal Savings Accounts | 7/1/2010 |
| Q: I was authorized as a signer on a friend's account in case she needed someone to pay her bills while ... A: Tim, "authorized as a signer". The bank has acted as if you are a co/owner of the account (this ... | |
| Bouncing of a check...Procedure to be followed by bank | 6/27/2010 |
| Q: My partner was in the possession of our bank check book of company account.The check could be issued ... A: Sanjay, It does not effect my answer re the bank. If the check had been paid, you would have a ... | |
| personal loan should I put my house up? | 6/13/2010 |
| Q: I am married to a Jim as well. Well, anyway, We are considering a persoanl loan from our local ... A: Joyce, consolidating your credit card debt in to a "personal loan" secured by your home might be a ... | |
| minor's savings account | 5/28/2010 |
| Q: Can a credit union withdraw funds from a minors savings account to cover his father's debt to the ... A: Donna, If the adult was a joint account holder, the account contract probably gives the CU broad ... | |
| safety of a credit card without a bank account and owning multiple credit cards | 5/20/2010 |
| Q: I am recently married and trying to consolidate accounts. My husband and I opened up a joint, and ... A: Elizabeth,Keeping your card active with Wells without a deposit account will cause no problems.You ... | |
| Opening An Account | 5/18/2010 |
| Q: I am working on building a corporation and rasing capital to create financial backing and security ... A: Bryan, as you've said you will be a corporation. You will, if you haven't already, need to form the ... | |
| bank regulations | 5/18/2010 |
| Q: I am wondering if a financial holding institution or bank can call itself a "National Banking ... A: Mary, banks in organization may not call themselves banks and typically use the qualifier "in ... | |
| Suntrust Banking Overdraft Nightmare.. | 5/13/2010 |
| Q: Suntrust Checking Overdraft Nightmare...? I wanted to touch base with someone who knows about ... A: Ian, you have few good options and my answer depends on whether or not you want to keep your account ... | |
| deceased parent acct - unauthorized use | 5/11/2010 |
| Q: My question is slightly complicated - my mother was receiving SSI for disability and received a ... A: Chris, I would like to say yes and maybe you could sue for the return of the funds or threaten him ... | |
| Time for checks to clear ACH | 4/21/2010 |
| Q: Jim: If I send a check to a business in Florida, from my home in South Carolina, and both banks ... A: Robert, ACH is for electronic transfers, but as you have suggested your check will probably clear ... | |
| Wire tranfer | 4/19/2010 |
| Q: I recently sold a property in Mexico and I wanted to know if the money (which is close to $100k) ... A: Jose, I'm gong to assume that are a US citizen. First, the general rule: U.S. citizens are taxed on ... | |
| Bank accounts | 4/12/2010 |
| Q: I have money in a savings account and you know how some people just leave money in their savings ... A: Ryan, Savings accounts are for short terms needs, liquidity, and saving for special needs. In your ... | |
| Misappropriated escrow money | 4/9/2010 |
| Q: I closed on a mortgage back in June of 2009 and at closing my taxes($814.69) were paid for the ... A: John, your best course is to reduce your claim to writing and demand a refund/credit on your loan. ... | |
| Illegal opening of "joint ownership" acct | 4/6/2010 |
| Q: Is it illegal to open a joint checking account without the permission of BOTH parties? My "EX" was ... A: Susan, by endorsing the check you have probably forfeited rights to the proceeds of the check. If ... | |
| NRA Business Account Establishment Issue | 3/15/2010 |
| Q: Here's hoping you can shed some light on my issue. Im a non resident alien living in Australia and ... A: Rajiv, not my best area but I did a little research and have pasted an article below from ... | |
| Lotto Winnings | 3/14/2010 |
| Q: My friend says if he won the lotto he would take the lump sum pay ou ...approx. 90 million dollars, ... A: Randy, If your friend won a $90MM lottery, the cash payout (depending on the state) would be ... | |
| UK businessman opening a us account | 3/11/2010 |
| Q: ,, a friend of mine is a UK businessman and he is coming to US to do business and will be paid in ... A: Mike, he should be able to. He will need to provide evidence of his legal status in the US, a US ... | |
| Bank official giving out my info. to family my family members | 3/10/2010 |
| Q: My husband died Christmas Eve. He was on disability, when his check came in on Dec 31 I looked at ... A: Chris, he can discuss the matters (he did so) but he shouldn't. You didn't ask me about the ... | |
| Wire Transfer Deposit of Trust Money | 3/10/2010 |
| Q: I have a trust account that I am issued a check from monthly from Edward Jones Trust Co. in St. ... A: Rebecca, Sorry I couldn't respond earlier. The transfer from EDJ is likely an ACH transfer not a ... | |
| Deseased Fathers Negative account | 3/7/2010 |
| Q: My Father has recently passed away. In reviewing his records we have found that he has two bank ... A: John, If your father lived in a community property state the bank might have a claim against your ... | |
| Stake checks and overdraft | 2/22/2010 |
| Q: Does bank honor stale checks? if so then how often? Does bank accepts checks even account holder ... A: Sonia, Most US banks do not sight inspect checks paid (especially those of small amounts). This ... | |
| Bank Account Confidentiality | 2/19/2010 |
| Q: I don't know if you are the appropriate expert for this question, but here it is. I took out a ... A: Jackie, Collection techniques unfortunately include intimidation at times. Yes probably ... | |
| Joint Checking Account w/Brother | 2/5/2010 |
| Q: If I open a joint checking account with my brother, can his creditors put a lien on the account? A: Lilian, Yes, joint bank accounts are subject to levy by a judgment creditor in all states. A joint ... | |
| custodial account | 2/2/2010 |
| Q: my mother opened a custodial account for me when i was 3 all my brithday and christmas money and all ... A: Jennifer, The "age of majority" in most states is 18 (you can google yours to make sure). The ... | |
| NSF on Minor's account | 1/21/2010 |
| Q: My child is 17 and has a checking account with Wachovia. He is the only one on the account and as a ... A: Daniel, In most states the "age of majority" is 18. Contracts are almost never enforceable for ... | |
| Forged my name on dual signature check, deposited to private account | 1/9/2010 |
| Q: Long, disturbing situation....but the short version is this: Upon a letter I received recently from ... A: LeAnne, The bank may well have liability but will likely not give in easily. Many banks would not ... | |
| CD rates business vs personal | 1/8/2010 |
| Q: I have seen over the years that both online and brick & mortar banks offer better rates to ... A: Art, don't know what state your are in but in my world, banks will take all comers. Can't tell from ... | |
| Business Account | 1/3/2010 |
| Q: I want to open a business account using only the tax id of the corporation but not having my ... A: Gordon, some banks will refuse to relate separate business accounts as you've described just to ... | |
| deceased bank account | 1/2/2010 |
| Q: My grandfather died,had a will leaving everything to a daughter and myself. The bank knew of his ... A: Bee, It's probably time to "lawyer up". I would discourage you from having any more conversations ... | |
| trust account requirements | 12/28/2009 |
| Q: I would like to set up a non-interest bearing checking account in the name of my trust. I was ... A: Nacho, You've pretty much done a good job answering your own question. A couple of points however: ... | |
| deceased bank account | 12/27/2009 |
| Q: My grandfather died,had a will leaving everything to a daughter and myself. The bank knew of his ... A: Bee, you have a potential claim against the bank and "the daughter". The bank will likely do nothing ... | |
| International income, US bills | 12/26/2009 |
| Q: I was hoping you had some insite regarding the following situation I'm about to be in: I accepted a ... A: David, Like you I've heard nothing good about mail and wire transfer services from Honduras. There ... | |
| credit card debt | 12/21/2009 |
| Q: I would like to know if a bank that you have both credit card and checking account with can take the ... A: Bob, Keep in mind, you said, "bank and credit card are with same institution". Make sure this is the ... | |
| Checking Liabilities | 12/10/2009 |
| Q: Jim, I have personal checking accounts with both commercial banks and credit unions. I am curious ... A: Matthew, Both FDIC and NCUA insurance funds are backed by the "full faith and credit of the US". The ... | |
| post dated checks | 12/2/2009 |
| Q: I heard rumors there are new laws taking affect jan 1 2010, outlawing post dated checks , and ... A: Kathy, Post dated checks are not "outlawed" & I ahve heard nothing about them being so. But, even if ... | |
| lost check by bank | 11/24/2009 |
| Q: a month ago i have make a deposit of a check in my American bank from my french bank account (in ... A: Agnes, It's not unreasonable for the bank to ask you to reissue the check and stop/pay the original. ... | |
| cashing a check | 11/19/2009 |
| 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 ... | |
| Possible bank account of deceased | 10/26/2009 |
| 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 funds | 10/23/2009 |
| 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 ... | |
| Searching for missing POD CD accounts | 10/19/2009 |
| 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 |
| 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 Sales | 10/13/2009 |
| 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 ... | |
| banking | 10/10/2009 |
| 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 Sales | 10/10/2009 |
| 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 |
| 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 ISSUE | 10/9/2009 |
| 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 signature | 10/7/2009 |
| 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 issue | 10/6/2009 |
| 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 Return | 9/30/2009 |
| 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 ... | |
| international move | 9/9/2009 |
| 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 ... | |
| FInding a bank from long ago | 8/25/2009 |
| 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 Accounts | 8/25/2009 |
| 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 ... | |
| Burden of proof 3 questions | 8/17/2009 |
| 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 questions | 8/16/2009 |
| 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 cashed | 8/15/2009 |
| 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 cashed | 8/14/2009 |
| 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 account | 8/13/2009 |
| 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 limitations | 8/10/2009 |
| 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 charges | 8/8/2009 |
| 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 theft | 8/7/2009 |
| 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 |
| 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 ... | |
| Money transfer from Mexico to the USA | 7/30/2009 |
| 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 check | 7/28/2009 |
| 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 cd | 7/24/2009 |
| 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 ... | |
| Minor Bank Account | 7/16/2009 |
| Q: My father had an account open for me when i was a kid, he is now deceased. The account was a minor ... A: Carlos, I suggest that you first determine if the account is "unclaimed" and has been escheated to ... | |
| postdated check by contract | 7/8/2009 |
| Q: I wrote a check to my mortgage company in an agreement for a first payment to my account to be made ... A: Gaye, it is evidence of your intentions if your dispute is with the mortgage company. It doesn't ... | |
| Fraudulent use of credit card -- liability | 7/8/2009 |
| Q: A friend of mine had two credit cards stolen in Indonesia. He did not realize til two hours later ... A: Tessa, According to the facts represented, your friend should have a maximum liability of $50 to ... | |
| postdated check by contract | 7/7/2009 |
| Q: I wrote a check to my mortgage company in an agreement for a first payment to my account to be made ... A: Gaye,Unfortunately your only recourse is to the mortgage company. The Uniform Commercial Code which ... | |
| Structuring | 6/11/2009 |
| 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 ... | |
| Structuring | 6/11/2009 |
| 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 ... | |
| beneficiary and custodian | 6/1/2009 |
| 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 ... | |
| Disposition of custodial account on death | 5/29/2009 |
| 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 ... | |
| closing my mothers deceased checking account | 5/25/2009 |
| 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 ... | |
| NSF Fees | 5/24/2009 |
| 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 ... | |
| bank fraud | 5/18/2009 |
| 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 ... | |
| US Bank fraud procedures | 5/14/2009 |
| 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 ... | |
| Cashiers Check | 5/12/2009 |
| 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 ... | |
| unauthorized withdrawal "offset" | 5/8/2009 |
| 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 ... | |
| Bank account signer legal responsiblitly | 5/8/2009 |
| 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. ... | |
| electronic bank transfer revokation | 5/7/2009 |
| 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 ... | |
| Bank Trustees | 5/4/2009 |
| 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 ... | |
| Locating a Trust Account | 5/4/2009 |
| 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 ... | |
| depositing checks | 4/30/2009 |
| 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 ... | |
| Sold boat, they stopped payment on check | 4/28/2009 |
| 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 ... | |
| Convenience fee? | 4/21/2009 |
| 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 ... | |
| Forged Checks | 4/20/2009 |
| 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 ... | |
| Bank hold | 4/19/2009 |
| 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 ... | |
| Unstimulating Overdraft fees at banks | 3/29/2009 |
| 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 ... | |
| custodial account | 3/28/2009 |
| 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 ... | |
| cashing a check to a business | 3/20/2009 |
| 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 ... | |
| Stale cashier's checks and SOL | 3/19/2009 |
| 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 ... | |
| Paying Taxes on CD's | 3/14/2009 |
| 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 ... | |
| cashing an irs check | 3/8/2009 |
| 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 ... | |
| Does the FDIC insure (large irrevocable) trusts? | 3/3/2009 |
| Q: I have an Irrevocable Trust valued at just over $5 million. The Trustee is Wells Fargo Bank. $1.2 ... A: Dannie, As beneficiary of the trust and not the trustee,I wold be surprised if you had the authority ... | |
| check on a closed account | 2/27/2009 |
| Q: I am a business owner. I own an antique store in Sioux Falls, SD. Yesterday I had a man from ... A: Rebecca, I know in big cities that local DA's offices often refuse to prosecute bad checks (issues ... | |
| stolen check/signature stamp | 2/26/2009 |
| Q: Someone who has now apparently disappeared stole a check from a business check book and placed the ... A: K, It's probably not a regulation but negligence of an account holder can be asserted as a defense ... | |
| Financial Stability of Money Market Account | 2/23/2009 |
| Q: Jim Last Fall you were kind enough to direct me to "Bankrate.com" where I was able to find very ... A: D, Your MMA is currently rated AAA by Standard and Poors,defined as having virtually no risk. You ... | |
| unauthorized withdrawal | 2/21/2009 |
| Q: My daughter has an outstanding nsf check for $245.00 from Wachovia Bank; she unable to open an ... A: John, I can't imagine by what right Wachovia had access to funds in the Colonial account. It seems ... | |
| Cashier's Check- Reimbursement | 2/21/2009 |
| Q: I obtained a cashier's check from my bank and it was lost in the mail; therefore never received by ... A: Erin, I'm pretty sure that the bank is not legally required to reimburse/cancel your cashier's check ... | |
| small restaurant | 2/18/2009 |
| Q: my father runs a restaraunt for my cousin who is 23, it is registered on my cousins name. Now I'm ... A: Meir, Transferring stock in a corporation to you would probably not offer any obvious benefits. ... | |
| Bank Debit | 2/15/2009 |
| Q: Good morning Sir. I have a major issue with my bank. I was sent a check from a company for doing ... A: Dustin, Sorry but the bank is within it rights to charge the check against your account. This right ... | |
| 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: Paul & Fran, The credit card company's story will be that you gave them permission to submit an ACH ... | |
| UTMA account | 2/6/2009 |
| Q: Can the minor named in the account liquidate the funds once they turn 21? A: Margot a UTMA account is subject to the laws of your state and the minor who is named in the account ... | |
| Deceased father's checking account. | 2/5/2009 |
| Q: My father passed away recently and he allowed me to use his account while he was living. There is ... A: Jason, I'm not advising you to do what you describe but If the debit card is still active and you ... | |
| uncashed check ques. | 2/3/2009 |
| Q: I paid my landscaper through online billing for a year and all was fine. Suddenly the checks weren't ... A: Caren, It's your call but if you "owe" him some amount by virtue of his not cashing the checks, I ... | |
| checking account | 2/3/2009 |
| Q: I am worried about losing my job as most people these days. If so, I will not be able to pay credit ... A: James, If your loan is with the same institution as your checking account the contracts you signed ... | |
| order of posting checks/deposits | 2/3/2009 |
| Q: On Jan 28th I viewed my account online and had a positive balance. In the pending transactions I had ... A: Sharon, Without addressing the technical aspects of your question, my general feeling is that the ... | |
| becoming a signee on an account | 2/2/2009 |
| Q: i recently filed bankruptcy and had problems in the past with bounced ck fee's with my old ... A: Debbie, It's not possible to know ahead of time. It will partly depend on whether you are a "signer" ... | |
| Home equity freeze and fixed rate? | 2/1/2009 |
| Q: Jim: Just wondering if you know if its possible to freeze a home equity loan from adjustable and ... A: Joules, Banks differ but most LOC HE Loans require floating rates. Maybe you should discuss with ... | |
| Open a bank account in Fiances name | 1/31/2009 |
| Q: My Fiance will enter the U.S. in a few short weeks and needs to transfer funds from the sale of her ... A: Ray, I don't think your bank will allow you to open an account in another's name. Hoever, I don't ... | |
| GMAC Bank | 1/28/2009 |
| Q: I saw on the internet that GMAC Bank is offering 3 per cent APY for savings and/or cd's for a one ... A: Bill, Safe is relative. GMAC is currently rated as "sound" by bankrate.com. As long as your stay ... | |
| LLC and Bank Accounts | 1/21/2009 |
| Q: I am opening a clothing boutique which I formed as an LLC. I also have a bank account under this ... A: Jennifer, the problem is that you will be required to file two tax returns, one personally and one ... | |
| Payroll Check Deposit only? | 12/3/2008 |
| Q: I have been working part time for a business as a private contractor, the first time I received a ... A: Jerry, Yes if you deposit the check in your bank, you have guaranteed those funds to your bank and ... | |
| Payroll Check Deposit only? | 12/3/2008 |
| Q: I have been working part time for a business as a private contractor, the first time I received a ... A: Jerry, If the check is returned to the "check casher" you will be liable for those funds. Your ... | |
| loan approval or disapproval! | 11/29/2008 |
| Q: This mortgage broker company approved my VA home loan even i didn't have money to close the loan. ... A: Hakan, If a suit has been filed you must hire an attorney to file an answer to the suit and possibly ... | |
| stale checks | 11/24/2008 |
| Q: a check dated 6-17-2006 for $7,000 was cleared by my bank last week (2.5 years after issue)..In ... A: Tim, This is a horrible outcome but the bank may be within its rights. Most states have adopted a ... | |
| Bank and Credit Unions; security of accounts. | 11/22/2008 |
| Q: Mr. Meadows With the recent dramatic failure of several major banking institutions, I was ... A: D, You can go to bankrate.com which offers objective ratings on all Banks & Credit Unions. ... | |
| IRS Check | 11/18/2008 |
| Q: The IRS sent me an Economic Stimulus Payment check, and I am living abroad, so they used my overseas ... A: Richard, I think you should be OK on both issues. The bank should accept the deposit even with the ... | |
| cashiers check | 10/11/2008 |
| 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 ... | |
| staute of limitations | 10/7/2008 |
| 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 ... | |
| Hard inquiry from bank for opening checking account | 10/7/2008 |
| 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 |
| 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 |
| 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 ... | |
| Unauthorized Account Transaction | 9/29/2008 |
| 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 |
| 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 ... | |
| cost of funds | 9/25/2008 |
| 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 ... | |
| Unauthorized withdrawls | 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: Nicole, My advice is to close your acount and open another in your name only. Also, it appears that ... | |
| banks and bank holding companies | 9/21/2008 |
| 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 |
| 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 ... | |
| small claims court for negative balance | 9/17/2008 |
| 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 ... | |
| FDIC insurance | 9/15/2008 |
| 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 |
| 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 |
| 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 |
| 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 ... | |
| Stale dated check | 9/12/2008 |
| 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. ... | |
| CD's | 8/16/2008 |
| Q: Jim, my wife and I have IRA CD's,and since we are both over 72 we have been withdrawing the minimum ... A: Edward, If you continue to leave your IRA in Cd's you will probably have to continue on a similar ... | |
| How can you trust a banks' sovency/stability? | 8/7/2008 |
| Q: We have business accounts at Compass Bank. My husband wishes to switch to another bank so that he ... A: Dodi, By far most banks are safe. That said, it's always a good idea to be aware of the ability to ... | |
| Personal Loan vs. Credit card | 7/26/2008 |
| Q: I have a personal loan with a fixed 8.99 interest rate. My balance is slightly under $20,000 and I ... A: Tammy, Usually I would recommend sticking with the installment debt, however 4.99% is a substantial ... | |
| Closing of Account online. | 7/26/2008 |
| Q: I was working in a corporate industry, where I have opened an account in Citibank as savings ... A: Nalini, From outside the US you can call collect 1.210.677.0065 or write: Citibank Client Services ... | |
| Best loan option | 7/26/2008 |
| Q: Let's say you want to buy a car. Having the same interest rate(i.e. 3.99%), same schedule of ... A: Carlos, Not sure I understand your use of the terms "simple vs. average daily balance". Most usage ... | |
| can credit card company garnish my incorperated banking account ? | 7/21/2008 |
| Q: i have a credit card in my personal name that i am unable to pay. i have a business that has a ... A: William, Your corporation is a separate entity and the judgment should not able to touch its bank ... | |
| Double Paid a Business Company | 7/20/2008 |
| Q: I have a bid ordeal... My business paid HD Smith, a distributor, twice on by mistake. The way this ... A: Paulo, Based on your statements, the distributor owes you $2,738.02 and you should ask them to ... | |
| overdrafts | 7/19/2008 |
| Q: I make $740 a month. I owe the bank $1200 through overdrafts and cash advances. I stopped my direct ... A: Sandy, Your idea about asking the bank to accept a payment plan makes sense. You should probably do ... | |
| check clearance | 7/16/2008 |
| Q: How long does it take to clear a check deposited to a bank in USA if the check issued came from a ... A: Violeta, Banks are reluctant to give credit on foreign checks, especially in foreign denominations ... | |
| LLC- loan- what effect does it have personally | 7/14/2008 |
| Q: I own a clothing boutique- we have 2 SBA loans)guaranty-\ The first is quarteed by my home equity ... A: Cathy, I understand that your boutique is an LLC and that its loans are secured in part by an lien ... | |
| 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: Jim, saving your $5,000 is a good idea. A C.D. (Certificate of Deposit) is a good and safe ... | |
| Fraud? | 7/8/2008 |
| Q: A friend is declaring bankruptcy. She recently received a $10,000.00 reimbursement check from when ... A: Lynn, You are right to question the transaction. It may or not be money laundering but it appears to ... | |
| Check Forgery | 7/7/2008 |
| Q: A relative forged my signature on a check made payable only to me. They made it look like a 3rd ... A: Amanda, You have little choice but to proceed with the claim as outlined by the bank. You have ... | |
| Check Forgery | 7/7/2008 |
| Q: A relative forged my signature on a check made payable only to me. They made it look like a 3rd ... A: Amanda, Sounds like your saying your relative forged your endorsement on a check made payable to ... | |
| Banking w/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: Try these sites: newcheckingaccount.com. creditcrisescenter.com, and icreditcentral.com who for ... | |
| Chex System-Afraid I will be put into it, bank policies. | 6/14/2008 |
| Q: Let me apologize in advance as I have a long back story to share. Basically I was totally taken ... A: Katie, 1. Most banks access CHEX prior to opening 2. Its not inconceivable that BofA could ... | |
| You couldn't be that psychic | 5/13/2008 |
| Q: You couldn't be that psychic to know whether I did my homework on the question or not........I have ... A: Angie, Sorry to offend, let me try. To donate is to give. No one really wants to give their money to ... | |
| Bank mistake...no they didn't deposit money into my account | 4/30/2008 |
| Q: Jim, About a month ago (March), my bank posted charges towards my DEBIT CARD from the month of ... A: Dan, Sorry you've had problems. It sounds like the charges are probably yours but I would, if ... | |
| Frozen bank account | 4/18/2008 |
| Q: Because of facts that would take to long to explain, I know the following events are true pertaining ... A: Jack, Since you were on the original account it doesn't seem unreasonable to ask the bank, not when ... | |
| Frozen bank account | 4/17/2008 |
| Q: Because of facts that would take to long to explain, I know the following events are true pertaining ... A: Jack, The easiest way to resolve the problem would be for you and your brother to agree as to how ... | |
| Money deposited in error | 4/15/2008 |
| Q: I live in Alaska and for 2 years a man has been depositing money in my account by mistake. He was ... A: Marcia, Based on what you've told me it appears that you are obligated to repay the money. If you ... | |
| LLC Bank Account | 4/10/2008 |
| Q: Say I form an LLC called "Mikco, LLC." I then create a bank account using the proper procedures from ... A: Michael. After the LLC is dissolved you should not continue to do business as the LLC (write ... | |
| Loan Payment | 3/8/2008 |
| Q: Over a year ago my husband totalled his car. The insurance company sent the check to our bank. ... A: Alyssa, Before getting a lawyer involved, try writing the bank, addressing your letter to a senior ... | |
| Banking | 2/27/2008 |
| Q: what are the different types of bank? A: Depalli, (US Financial Institutions) 1. National Banks, supervised by the Office of the Comptroller ... | |
| Federal Tax Returns | 2/26/2008 |
| Q: Will any bank cash a Federal Tax Refund check, even if i don't have an account? I currently don't ... A: Sheron, If the check is from The US Treasury & not a "rapid refund" check from a commercial tax ... | |
| posting a deposit then charging 18 overdrafts | 2/18/2008 |
| Q: We recently received our tax refund in the form of a cashiers check. I deposited it on a monday ... A: Jeremy & Carrie, You might try contacting the primary regulator of your bank. If a national bank it ... | |
| posting a deposit then charging 18 overdrafts | 2/15/2008 |
| Q: We recently received our tax refund in the form of a cashiers check. I deposited it on a monday ... A: Jeremy & Carrle, If you are sure that the refund check was an official check (cashiers check) you ... | |
| deposit policy | 2/13/2008 |
| Q: I made deposit of check in the amount of $1250 (rent check from tenant) written from First Niagara ... A: Vitaliy, You can find the info by googling "funds availability" or by going to either fdic.gov or ... | |
| Safety Deposit Boxes | 1/10/2008 |
| Q: I am writing a novel and would like to know if the daughter of a deceased person could access her ... A: Lynn, The daughter would have no rights to enter the box unless previously a signer on the box ... | |
| CD in danger? | 1/7/2008 |
| Q: Meadows: I am a senior and can't afford to lose money [but, then, who can :-(] and just learned that ... A: Chris, If the total balances in your name does not exceed $100,000 there is little risk. If you have ... | |
| BREACH OF TRUST OVER JOINT BANK ACCOUNT | 1/3/2008 |
| Q: I AM CONTACTING YOU ON BEHALF OF A FRIEND I HAVE ON TOUR IN IRAQ , HE IS AN AMERICAN CITIZEN AND ... A: Jenna,If the stepmom is unwilling to pay back the money (which is apparently the case),there is ... | |
| New account check hold | 12/28/2007 |
| Q: Meadows: From past questions/answers, I see that "check-hold" is a widespread problem. I joined a ... A: Bruce, As you have, I reviewed the Fed's rules re Funds Availability and reached similar ... | |
| BANK DEPOSIT MISTAKE | 12/27/2007 |
| Q: A COMPANY I USED TO DO BUSINESS WITH DEPOSITED ABOUT 15,0000.00 IN MY ACCT BY MISTAKE. THEY CALLED ... A: Scott, I would first attempt to negotiate with the company. It would not be unreasonable to ask them ... | |
| Dishonor of check - liability of joint account holders | 12/25/2007 |
| Q: Sir, In case of a account operated by more than one person ( held in the name of more than one ... A: Dipesh, The second holder has a contract with the bank and can be liable to the bank in the case of ... | |
| need knowledge | 12/19/2007 |
| Q: A: Antoine, First step might be to shop banks in your area for higher savings rates. If that doesn't ... | |
| Banks & their online gambling responsibilities | 12/17/2007 |
| Q: I had fraudulent charges done over a 5month period via my debit card though on online gambling site. ... A: Brandon, I'm not an attorney, but feel it would be near impossible to get the bank to share ... | |
| too much cash lying around | 12/14/2007 |
| Q: Jim, I work a tip job and have a lot of cash hiding in my house. How can I move the cash to a money ... A: John, Sorry, didn't mean to offend, but I feel a need to provide information even when it not ... | |
| Overdraft protection and credit ratings | 12/13/2007 |
| Q: My fiancee and I have a disagreement. He believes that any time you dip into your overdraft ... A: Joan, Not sure I can settle this. The "hard inquiry" from the bank will have a small effect on your ... | |
| banking woes | 11/24/2007 |
| Q: What can my son do about a bank that refuses him access to his money because he has lost his ... A: Cheryl, 1. It's not unreasonable for the bank to ask it's customers to ID themselves. Your son ... | |
| question | 11/17/2007 |
| Q: At this time I have about 50K in my money market account in the bank. I need to put my mother as the ... A: Karam, This is best asked of an attorney in your state, however you might investigate creating a ... | |
| Complaint against Bank of America | 11/15/2007 |
| Q: EVERY evening Bank of America calls with a recording telling me to call them. When I call that ... A: Marcia, I have pasted below information from BofA's website www.bankofamerica.com/privacy. As shown, ... | |
| bank put block on my account | 11/10/2007 |
| Q: My elderly mother gave me a check for $4000.00 and I deposited it into my account. Several days ... A: Susan, The bank is obviously spooked and suspects unauthorized transfers from your Mom's account. ... | |
| "for deposit only" | 11/7/2007 |
| Q: My sister-in-law wrote a check payable to my 8 week old daughter and on the back under the ... A: Nicole, Generally checks can only be endorsed by the "payee", ie your daughter. I don't think the ... | |
| A BANKS OBLIGATION IN OPENNING A BUSINESS ACCOUNT | 11/6/2007 |
| Q: A PERSON OPENED A CHECKING ACCOUNT AT A BANK IN A FICTITIOUS BUSINESS NAME FOR THE SOLE PURPOSE OF ... A: Jay, There are several regulations which deal with new bank customers such as: BSA (Anti Money ... | |
| withdrawals | 10/31/2007 |
| Q: My husband and I are divorcing and have about $60,000. in a joint account. I would like to withdraw ... A: Nadine, Only cash withdrawals over $10M are subject to reporting. Your withdrawal should be made via ... | |
| Over draft fees | 10/28/2007 |
| Q: Jim, My wife's bank has been accepting my pay checks for over two years. They just left us a voice ... A: Brian, Sounds like the bank delayed availability of the checks deposited. The bank can decide to ... | |
| bank deposits | 10/25/2007 |
| Q: Is there a regulation that prohibits commercial banks from witholding a deposit from your available ... A: Brian, Yes, banks have the right to delay availability on certain deposits. These include: checks ... | |
| Checking Account Garnishment | 10/23/2007 |
| Q: I just discovered a creditor has garnished my checking account without notice. Is this legal? ... A: Carole, the judgement should be on record with the County Clerk's office in your county of ... | |
| Checking Account Garnishment | 10/22/2007 |
| Q: I just discovered a creditor has garnished my checking account without notice. Is this legal? A: Carole, Usually not legal. In most all states garnishments can only be levied against your account ... | |
| Huge credit card problem | 10/9/2007 |
| Q: Meadows! My name is Oana and I am a student that worked in USA for the summer, so I opened an ... A: Oana, If the $200 is owed because of charges to your credit card or checks you have written, you ... | |
| custodian & beneficiary | 10/7/2007 |
| Q: What is the difference between a custodian and beneficiary on checking and savings accounts? If the ... A: Susan, I apologize for my tardy response, I've been out of town. The persons responsible to the bank ... | |
| Involuntary closure of bank account | 8/31/2007 |
| Q: At a national bank who or what department can close an account? A: David, Even though national banks are regulated by the government, they are businesses owned by ... | |
| Credit card cash advance | 8/27/2007 |
| Q: About 4 months ago a friend of mine went to their bank and did a cash advance from their debit card ... A: Bruce, I would assume that the bank will sooner or later, recognize the error and demand the money ... | |
| bank loan vs credit card | 8/25/2007 |
| Q: this may not be the right place to ask this question--but I'll give it a shot------say I wanted to ... A: Bill, The interest rate is the same. But the amount of interest you would actually pay would depend ... | |
| providian refuses to correct credit history | 8/23/2007 |
| Q: in 2002 I notified the credit dept at Providian Visa that I was in financial hardship after a fire. ... A: Morgan, Providian's story may be that you did not pay as agreed as provided for in your contract and ... | |
| Savings account taxes | 8/22/2007 |
| Q: I want to open several savings accounts to plan for the future, question is, is it worth it will I ... A: Robert, It's not due to a change in tax brackets. You would be able to choose your with holding rate ... | |
| CD statements | 8/8/2007 |
| Q: We have several CD's & receive monthly statements on some & quarterly statements on others. Also, ... A: Judy, I would recommend keeping all monthly brokerage & bank (including CD) statements for three ... | |
| Capital One | 8/8/2007 |
| Q: Have had a Cap1 credit card for years; good standing. Their fraud dept. placed 2 erroneous charges ... A: Julie, You said, "fraud department placed charges on my account". I'm not sure I understand. ... | |
| Deceased Father Checking Account | 8/8/2007 |
| Q: My father passed away recently ( mom already deceased ). I think the bank has misplaced the ... A: Beth, Sorry but this is a legal question and the answer will depend on what state your Dad lived. My ... | |
| Checking Account of Deceased Mother | 7/27/2007 |
| Q: My mother passed away in September of 2006. Prior to her passing my father told me she wrote me a ... A: Danny, You can deposit the check into your account but there is a good chance it will not be ... | |
| check clearance | 7/23/2007 |
| Q: I deposited a check on July 1st in chase, check was 35,000 drawn on a CT bank. Chase told me the ... A: Les, Availability of deposited funds is governed by REG CC issued by the Federal Reserve Bank. ... | |
| holds on deposit | 7/22/2007 |
| Q: i need to find the best bank to open a checking account with online, that will not place a hold on ... A: Anthony, Most banks have adopted similar hold policies. Most larger banks access holds with the use ... | |
| checking accounts | 7/18/2007 |
| Q: can I cash a check even though it does not have the payers signature? A: Carlos, Banks will sometimes ignore lack of signatures on checks deposited but usually only for ... | |
| Wedding Gift From International Parents | 7/17/2007 |
| Q: My wife is an Irish Citizen and her parents, who live in Northern Ireland, have money (Pounds ... A: Brendan, You didn't say, but I'm assuming your wife is in the US & that the funds are in some sort ... | |
| NetBank | 7/17/2007 |
| Q: I have deposit accounts with NetBank. They appear to be in some difficulty and I understand that ... A: Ed, If you like the bank's features and services and are fully insured I think its OK to ... | |
| FDIC | 7/15/2007 |
| Q: When will the FDIC: Federal Deposit Insurance Corporation $100,000 limit on non-retirement accounts ... A: K,As part of the rules established in 2006 to increase FDIC coverage on retirement accounts, the ... | |
| Writing on back of checks | 7/12/2007 |
| Q: I learned from my law professor that a handy way of creating a legal document is to write a quick ... A: Paul, Banks may accept checks "for deposit only" without a signature, assuming the check is ... | |
| Writing on back of checks | 7/11/2007 |
| Q: I learned from my law professor that a handy way of creating a legal document is to write a quick ... A: Paul, Bank's will typically ignore restrictive endorsements. They rely instead on the guaranty of ... | |
| Leasing a car! | 7/8/2007 |
| Q: I live in California on a student visa and live off a student loan from Sweden. Is it possible for ... A: Maria, pardon my late reply. I've been traveling. Leasing a car requires the same credit ... | |
| check card | 7/2/2007 |
| Q: I recently loaned my check card to my girlfriend, she also has access to my pin number and S.S. ... A: Brian, I don't exactly how "she would weave around security measures" but I think you have answered ... | |
| bank error | 7/1/2007 |
| Q: I went to the bank drive thru today to cash some checks. When the cash was sent back I immediately ... A: Donavan, There is seldom a good end to this problem. It boils down to a swearing match. Your story ... | |
| Bank withdrawl | 6/30/2007 |
| Q: I make online payments through my checking account to pay bills. One company sent the checks back to ... A: Ann, Yes all banks will debit the amount of the checks when sent whether or not they are cashed. ... | |
| dishonored checks | 6/30/2007 |
| Q: All major national banks in Phoenix have adopted the policy of refusing to pay checks drawn on them ... A: Dennis, Sorry I can't shed any additional light. My understanding under the UCC is similar to yours. ... | |
| Request a Post Dated Check | 6/24/2007 |
| Q: My apartment asked me to post date my July rent check because I tried to pay them today June 24th. ... A: Peter, It's not illegal for your apartment to make the request. Your only obligation however, is to ... | |
| Death of grandfather, becoming POA | 6/21/2007 |
| Q: My grandfather recently passed, and my grandmother gave me power of attorney. How do I establish ... A: Sue, The PA should be a durable PA and on record. You should visit each bank with the PA where you ... | |
| bank draft vs check | 6/16/2007 |
| Q: I am considering selling my used car to CarMax Superstore instead of trading it in on my new car. ... A: Curt, An auto draft typically contains the title documents and upon examination by the CarMax office ... | |
| About unpayable check | 6/14/2007 |
| Q: I am having a problem with checks that turned out to be unpayable. I wrote a check to my school for ... A: Sora, These "fines" are probably part of the policy imposed by the school for dealing with ... | |
| deposit check to the bank account | 6/12/2007 |
| Q: I found a buyer for my boat online. Buyer will instruct his accountant to send me a check for exact ... A: Even though the check is a forgery, your bank may accept it for deposit, then say 30 days later they ... | |
| amendmend on post dated checks | 6/12/2007 |
| Q: I gave someone a post dated checks ( 4 ) and they changed the date on the check, initialed it with ... A: Vlk, The individual who presented your checks for payment guaranteed those items to the bank by ... | |
| personal finances | 5/31/2007 |
| Q: In today's internet age, for the average citizen, life has changed enormously in personal finances. ... A: Mark, Others may disagree but the consensus seems to be that paying by check exposes one to greater ... | |
| bank account for land trust | 5/28/2007 |
| Q: I currently live in Texas, can I open an account in my "land trust" (has TIN #) I know you can in ... A: Maria, You should be able to open an account. You will have to present the bank with the trust ... | |
| banking | 5/25/2007 |
| Q: can i as a canadian living in canada open a us bank account on line? thank you for your assistance A: Harold, Not my area of expertise but my guess is no & that you will have to furnish copies of ... | |
| offshore bank a/cs | 5/25/2007 |
| Q: i would like to know wether a person not living in the usa can open a bank a/c and which banks offer ... A: op. Yes, I spoke with Etrade this am and they confirmed that they can open (not on-line but by mail) ... | |
| Minimize risks with financial institutions | 5/24/2007 |
| Q: First of all, thanks in advance for your help! I really appreciate the service you offer to the ... A: Ricardo, Sorry but banks can and do "freeze" accounts to protect themselves from loss, even when ... | |
| USA credit | 5/24/2007 |
| Q: I am Canadian citizen living in Canada. Will any of the US banks issue MC or Visa card to me? A: Roman, I found a blog which indicated that a bank in Kansas did in fact do what you indicate. ... | |
| Minimize risks with financial institutions | 5/23/2007 |
| Q: First of all, thanks in advance for your help! I really appreciate the service you offer to the ... A: Ricardo, "Regular banks" do offer deposit insurance but aside from that, I'm not sure what ... | |
| opening a bank account | 5/22/2007 |
| Q: ! I am an L2 visa holder from India and a housewife residing currently in Chicago. I do not have an ... A: Amulya, Keep in mind that different banks have different requirements. You will need an ... | |
| ex wife forged a check | 5/21/2007 |
| Q: My ex wife forged a check that was made out to both of us, requiring both signitures. You guessed ... A: Mike, The company that issued the check is off the hook. The bank guarantees all endorsements to the ... | |
| signers | 5/11/2007 |
| Q: I just started my own business and am now faced with the need to add a signer to the company's bank ... A: Oanneh, If you have to, you have to, but I would hold on the the check signing function as long as ... | |
| Check bounced - time limit for re-presenting? | 5/7/2007 |
| Q: I wrote a check out of my credit union account which I deposited into my landlord's bank account - ... A: Sarah, I'm not sure there is an error. Your landlord's bank will give their good customer immediate ... | |
| funds retracted after check cleared | 4/23/2007 |
| Q: My family placed an ad to rent out an apartment. A person from out-of-town answered and sent a check ... A: Clayton, Sorry, I don't have good news. The bank's story will be that when they said "good", they ... | |
| Interest | 4/17/2007 |
| Q: What is the difference between compounding interest daily versus say monthly on a CD account? ... A: Wayne, Simple interest is calculated on the principal only. Compound interest calculates interest ... | |
| Old checking accounts and credit rating | 4/14/2007 |
| Q: If you have multiple bank accounts open that you no longer use, can it affect your credit rating? A: Sarah, I apologize for my tardy response. I'm fairly certain that unused deposit accounts will not ... | |
| BANKS | 3/9/2007 |
| Q: I have a mortgage with a bank for land valued about 30k and the loan balance is 99k (it's a long ... A: Al, Sorry, that's not right. If you cease making payments, the bank will foreclose on the property. ... | |
| hold on deposited check | 2/24/2007 |
| Q: On Feb 10 I deposited a $8,000 TD Ameritrade brokerage check into my savings account at my Credit ... A: Gene, Funds availability is covered by Reg CC of the Federal Reserve. On deposits greater than ... | |
| overdraft fees-can they be reversed? | 2/16/2007 |
| Q: I have been banking with the same institution since 1989. Up until last year I had a savings and ... A: Maribel, It may be highway robbery but unless the bank made a mistake which created your problems ... | |
| Bank Charges | 2/7/2007 |
| Q: I don't see a category for banking in Spain but maybe your advice would still be useful. I received ... A: Ed,As you've guessed, I'm not familiar with banking practices in Spain. However, keep in mind that ... | |
| double payment,bank admits fault | 2/6/2007 |
| Q: im not sure if this is in your field but I figured i'd try. I normally pay my car loan {united Auto ... A: Stacy, It would be fair of your auto finance company to return the second payment. But their ... | |
| Joint account | 2/5/2007 |
| Q: I have a joint account with one of my father which he opened for me, and in case something happened ... A: Thomas, My guess is no. Sounds like the funds in the account are your father's. You may or may not ... | |
| Banks Giving out Unauthorized Personal Info | 12/25/2006 |
| Q: I have worked many jobs where confidentially is the #1 priority. I have a 21 year old daughter who ... A: Michele, Bad behavior and even against bank policy but probably not illegal. Also, the bank ... | |
| joint checking account and being sued | 12/23/2006 |
| Q: My Ex-bf is sueing me for taking money from "our" joint checking account. He gave me money in Feb. ... A: Kharma, The answer to your question is yes, he can sue you; but based on your version of the facts ... | |
| CONFLICT OF INTEREST | 12/21/2006 |
| Q: The Bank that is handling my elderly mothers trust is paid an annual fee for management. 3 of the 7 ... A: Jim, There is certainly a potential conflict of interest. More importantly however is whether or not ... | |
| Had a question about banks and fraud... | 12/12/2006 |
| Q: I heard about a person who had a great deal of money taken out of her personal bank account by ... A: Duane, The crime of forgery is a serious felony and is prosecuted by state or federal prosecutors ... | |
| obtaining a cleared check | 12/10/2006 |
| Q: I am aware that if I were to write a check someone, and they cash it, the cancelled check will be ... A: Daniel, Your bank may have an image of items deposited to your account and for a fee might be ... | |
| Bank | 12/3/2006 |
| Q: For over 20 years, I have had two small business bank accounts with my local bank. I have often ... A: Susan, Robbing Peter to pay Paul to banks means that you may have have been depositing uncollected ... | |
| credit card closure and useage | 11/28/2006 |
| Q: My check book was stolen earlier this year along with my pickup truck. At that time I closed my ... A: Langford, If an account is opened by someone with your info and without your consent you should have ... | |
| Citibank is closing all my accounts | 11/23/2006 |
| Q: I received a certified letter from my local Citibank branch informing me that based on the ... A: Henry, Your account agreement gives the bank the right to close your account for any reason. The ... | |
| Letter of Indemnity | 11/16/2006 |
| Q: What is a letter of Indemnity? A: Mary, One who signs letter of endemnity agrees to endemnify that someone(will not suffer a financial ... | |
| Bank | 11/1/2006 |
| Q: Maybe you can help me.My niece who i haven't seen or talked to in 11 years,opened up a checking ... A: Ellie, No, if your niece furnished the bank your address, the bank is not at fault. Also, " up on ... | |
| Undocumented Charge After Acct Closed | 10/29/2006 |
| Q: Bank of America was charging me $28 dollars every time they had to draw money from my linked savings ... A: Bruce, Any conversation with the collection agency is wasted. I'm surprised that you've had no ... | |
| bank error and loss of interest | 10/27/2006 |
| Q: My elderly mother's bank mysteriously and unilaterly changed her account from a money market type to ... A: John, I don't understand the bank's statement, "without escalation". However, Your mother can ... | |
| off shore bank accounts | 10/2/2006 |
| Q: Can you set up an off shore checking account? i.e. if you are not looking to save but to be able to ... A: KAtrina, Yes, you can open a foreign checking account but often times minimum deposits can be larger ... | |
| Lost Cashier's Check | 9/27/2006 |
| Q: I sent a cashier's check to someone a year ago. I still have the pruchaser's reciept. The bank ... A: Bernie, Sorry for my tardiness in responding, I've been out of the country. Yes you can get the ... | |
| Bank Manager dropped the ball | 8/7/2006 |
| Q: I have been banking with a Savings and Loan for 15 yrs. I have been a good customer who has bounced ... A: Bill, All you can do is what you have done. I'm surprised the bank will allow "held statements". ... | |
| Custodial account for minor child | 7/28/2006 |
| Q: In 1999 I opened a passbook savings account for one of my children. In 2001 I opened another ... A: Tracy, The balance of the accounts could very well have been reduced by fees. You should have been ... | |
| Post dated checks | 7/21/2006 |
| Q: Is a Florida bank legally required to accept a post-dated check for deposit prior to the post-dated ... A: Don, Banks are not required to accept post dated checks for deposit, but may do so at their option. ... | |
| Bank error | 7/20/2006 |
| Q: I picked up a change order of $10.00 bills from my banks drive thru window. I have never had a ... A: Anthony, I don't have any real good advice. Even if there was a video, I doubt it would provide any ... | |
| banks | 7/18/2006 |
| Q: i have a judgement on my bank account with chase from discovery card. how long does it stay for, it ... A: David, If Discover has a judgement, this would mean that they sued you, won a default judgement, & ... | |
| Cost of Funds | 7/16/2006 |
| Q: Jim, I currently run a credit department for a regional bank and encountered an issue that I have ... A: Robert, Your question is best adressed in broad strokes. Loans make money for the bank (interest ... | |
| check clearing | 7/16/2006 |
| Q: Is there any period of time after which the bank cannot debit my account for a bad check that is ... A: Lou, Sorry to be tardy in responding to your question. Banks do have the right to charge returned ... | |
| Cashing Checks | 7/16/2006 |
| Q: Banks are refusing to cash checks drawn on them just because the payee is not a bank customer. When ... A: Don,It is unusual that a bank not honor a check drawn "on/us" and presented for cash, however I ... | |
| Bank charges | 7/10/2006 |
| Q: I've just begun to try and find specific U.S. and State banking laws, regulations or code that ... A: Lynford, Bank fees such as NSF fees are not regulated by the feds or by states. Banks are not public ... | |
| Bank loan payment | 7/2/2006 |
| Q: Over 2 months ago I wrote a check for $2615 to pay off my car. The bank cashed the check for ... A: Mike, Don't even think about it. The money is not yours. Sooner or later someone will come looking ... | |
| Better rates? | 6/18/2006 |
| Q: Are there any resources employeed by banks that are to the benefit of the rich? Like if I had ... A: James, The rate diffenece wouldn't be worth the risk and complication. In order to combine the ... | |
| Post-dated checks | 6/17/2006 |
| Q: I have given Two checks Dated 06/09/06 (Check #126) and another dated 08/01/06 (Check #127)for same ... A: Srinivas, Unfortunately you have no legal recourse. The bank is not obligated to observe your "post ... | |
| Post-dated checks | 6/15/2006 |
| Q: We live in Virginia, and our situation is that a post-dated check was cashed before the clearly ... A: Srinivas, Most state statutes were amended in the late 90's regarding post-dated checks. A bank may ... | |
| missing ACH transfer. | 6/8/2006 |
| Q: I did a transfer from PayPal to a bank. Although previous transfers have been posted within a couple ... A: Ed, You should now write a letter to the bank. The letter should be calm in tone & factual as ... | |
| Checking account deposit polict | 6/1/2006 |
| Q: Most all banks hold a deposit for 5 to 10 business days before the funds are available for use. Is ... A: Phyllis, Funds availability is not as straight forward as your 5-10 day example. You can Google ... | |
| US bank account for Canadian | 5/29/2006 |
| Q: I am a Canadian living in Alberta. I receive a monthly distribution in USD from a US partnership. ... A: Don, I didn't have much luck, but here is contact info for Toronto offices of US banks in Canada: ... | |
| Can I cash . . | 5/29/2006 |
| Q: . . a check written on an AG Edwards account? A fellow owes me some money and is giving me a ... A: Michael, Take the check! Like any other check, your bank may or not cash it. It depends on the ... | |
| Memorial Bank Account Set Up | 5/28/2006 |
| Q: my name is Dawn and last summer I lost my daughtet to a car accident,she was 20 ,and living with her ... A: Dawn, Illegal, yes probably criminal fraud. If the boyfriend set up the account he probably had the ... | |
| Banks & IRS checks | 5/16/2006 |
| Q: This is amazing - I saw a question and your answer about an IRS check - dated 3/16/2006 - with ... A: Dawn, Bank's are subject to a regulaion dealing with funds availability. The reg allows them to ... | |
| Pay on death cards forged | 5/4/2006 |
| Q: My Lawyer has talked about hiring a hand writting expert. My biggist question though-When someone ... A: Terry, The short answer is no. Practices may vary, but my experience is that when the card/contract ... | |
| Bank solvency | 5/4/2006 |
| Q: I do my banking at Jacksonville Bank in Florida. My husband is worried about the solvency of this ... A: Joan, Your primary concern is that your account is with an insured financial institution. The ... | |
| Pay on death cards forged | 5/4/2006 |
| Q: My Mother passed away with no will. I have 2 sisters, and 3 brothers. As I am the only sibling with ... A: Terry, The bank would be liable for the $300,000, as would your brother ,if the contract was forged. ... | |
| They took the funds back? | 4/24/2006 |
| Q: I made a payment to my credit card co. from my husbands checking account, only to find out that they ... A: Vickie, You probably can get your card company to work with you, but not to reverse the payment to ... | |
| They took the funds back? | 4/22/2006 |
| Q: I made a payment to my credit card co. from my husbands checking account, only to find out that they ... A: Vickie, Sorry but I don't understand some things. You made a payment from your husbands account? ... | |
| Deposits in my account | 4/20/2006 |
| Q: In July 2005, I opened a savings account for my daughter. In November, I saw deposits going into ... A: Kerry, The bank made a mistake. Its not a question of your being responsible. It's just that the ... | |
| payoff error at closing | 4/14/2006 |
| Q: I closed on a construction loan and later received an email from the construction loan officer (and ... A: Elizabeth, You have little leverage here. My first thought would to be to try to have the$4M ... | |
| thanks im intrigued by the... | 4/10/2006 |
| Q: i thought htey were xempt has there been achange in the law? what % can be attached to satisfy a ... A: Yom, SSI, retirement funds, 401-K's, etc. are typically exempt from judgement creditors. The ... | |
| are student loans garnishable? if... | 4/10/2006 |
| Q: are student loans garnishable? if one defaulted on a student loan? are tax refunds and credits ... A: Yom, A defaulted student loan is one that is at lease 270 past due & yes wages may be garnished to ... | |
| average daily balance | 4/9/2006 |
| Q: I have a savings account and I would like to know what average daily balance means. They base my ... A: Pedram. The average daily balance on your account is calculated by adding the ending balance of each ... | |
| Bank deposits | 4/5/2006 |
| Q: I deposit a check for a local bank (Bank of America) other than mine on the afternoon of 3-27-2006, ... A: Texx, As I understand, the check you deposited on 3-27, was returned unpaid? If so the bank had the ... | |
| Bank Error | 3/28/2006 |
| Q: Two years ago, I was given a refund by my bank for a cancelled service ($555). They deposited the ... A: Gene, You reallly have no defense. That said, you have the bank's money and they have little ... | |
| anonymous donations | 3/27/2006 |
| Q: I'm a writer, and I have a character who needs to make an anoymous donation to a church. It's a ... A: EC, The character could hire an attorney. The character would pay the atty, who would deposit the ... | |
| safety of bank savings | 3/21/2006 |
| Q: I'm looking at putting a large amount of my cash savings into GMAC Bank because of the high interest ... A: Tom, If your savings are less than $100M or structured in multiple accounts consistent with FDIC ... | |
| Endorsing Checks | 3/17/2006 |
| Q: My bank is now insisting that my husband endorse checks, payable to him, for deposit to his or our ... A: Michele, Sorry to be tardy in responding to your question. What you describe is unusual. Under most ... | |
| My Refund Check has been lost by Bank. | 3/16/2006 |
| Q: Sir! I need your advise. Last week i made a deposit (My IRS refund check) to my bank (Citibank) ... A: Max,Anything is possible. You should write to the branch manager and ask for credit, describing the ... | |
| Fraudulent checks | 3/15/2006 |
| Q: I just found out my bank processed 6 fraudulent checks on my business account from someone who made ... A: Larry, I'm assuming you discovered the forged checks in a timely manner and notified the bank in ... | |
| mutual funds | 3/10/2006 |
| Q: I am interested in investing in a mutual fund and I was wondering what the difference would be if I ... A: Ellen, It depends on the bank. Some have wide ranging choices of fund families and some not. The ... | |
| Attempting to find an online bank | 3/6/2006 |
| Q: I'm attempting to find an internet bank that I can setup and have access to within 48 hours. ... A: J, Jones, You should be able to open an account within the time you describe. Check netbank.com or ... | |
| Credit Card signature | 3/4/2006 |
| Q: i was informed by citibank themself about the misuse of card, as soon as i landed in shanghai. they ... A: Imran, Citibank informing you of "misuse" & their blocking the card is not the same thing as you ... | |
| Credit Card signature | 3/4/2006 |
| Q: when i was on my way to shanghai my credit card was stolen during transit at bangkok and was than ... A: It may be impossible for Citibank to furnish signed receipts & their failure to do so does not free ... | |
| Post dated checks | 3/4/2006 |
| Q: I have a few questions for my particular situation...I wrote a post dated check to my mother and she ... A: Jen, Since 1996 most states have changed their banking code to allow banks to ignore "post dating' ... | |
| Stopped payment on check | 3/3/2006 |
| Q: I dont know if your the right person for this but here goes. I had a tennant pay me by check and ... A: Bill, You can cash or deposit the check as long as the bank doesn't refuse to accept it. Funds woud ... | |
| overwriting on checks | 2/27/2006 |
| Q: is it legal for the recipient to overwrite the date on my signed (postdated) check, put his initials ... A: Selsells, If a check is altered with intent to defraud, it is clearly illegal. However, Post Dating ... | |
| Closing bank account for deceased | 2/10/2006 |
| Q: A few months ago, my grandmother passed away. My mother and I have been working to close outstanding ... A: Kim, Sorry to be tardy in responding to your question, I've been out of town. The following assumes ... | |
| Loan | 2/6/2006 |
| Q: I was wondering how could i get a loan to go into a Roll-off trash buisness i would need 50,000 to ... A: Edward, I would suggest that you go the Small Business Association's web site, sba.gov. There is a ... | |
| Bank Accounts & Child Support | 12/22/2005 |
| Q: My fiance has child support payments deducted from his paychecks. His employer pays by direct ... A: Terry, State laws differ some but the answer to your question will be substantially the same. Any ... | |
| please read this...important!!! | 12/13/2005 |
| Q: Please help me.....my husband has had me sign checks for the rent on my apartment.We are seperated, ... A: Deb, He can try. How do you know he wrote the bank? Has the bank contacted you or is it his story? ... | |
| Credit Card | 12/6/2005 |
| Q: I presently used a credit card that earns points for each dollar you spend with the card. I am ... A: Rosemarie, It really depends on what you value. In either case; points or cash both are better for ... | |
| Interest rate of cd's in 1992 - very important | 11/21/2005 |
| Q: Meadows, This is probably not your normal question, but I have been looking for this answer on the ... A: Georgia, Frst Republic's bank site at firstrepublicbank.com has a link for historical interest ... | |
| ACH transfers | 11/15/2005 |
| Q: Please I would like you to give me links to credible online ACH transfer providers.I would like to ... A: Abiodun, I've no experience with consumer originated ACH transactions. I googled "ach transfers", ... | |
| Opening an account | 11/7/2005 |
| Q: I live in Venezuela, and I want to know if I can open a bank account in the US through Internet ... A: Patricia, I spoke with a representative at Citibank, who I think has offices in your country. Your ... | |
| Account consolidation. | 10/16/2005 |
| Q: I tried to join two credit cards and I could't. Can Providian Credit Card or Washington Mutual deny ... A: Jose, Not sure I understand your question. I'm guessing you want to combine two credit card accounts ... | |
| Bank Solvency | 10/1/2005 |
| Q: Jim, thanks. That was very helpful. Re the safe deposit box, hoever, I am wondering if a Bank goes ... A: Yes, the contents are still yours. Banks can't file federal bankruptcy, they are liquidated by the ... | |
| Bank Solvency | 10/1/2005 |
| Q: What happens if a bank goes into bankruptcy? I know deposits are insured to $100,000 but I have more ... A: Ed, If your deposits are with a large national or regional bank the chance of failure is very small. ... | |
| FDIC | 9/22/2005 |
| Q: If I opened CD's in the same bank under the following names: Clyde Thomas Nancy Thomas Clyde and ... A: Clyde, Yes-Clyde, Yes-Nancy, No, Clyde & Nancy (each of share,50,000, would be added to your ... | |
| overdraft | 9/20/2005 |
| Q: I checked the amount I had in my bank online. After seeing I had a sufficient amount of money I ... A: Sean, If the Bank made a mistake, you might have a legimate complaint. Their story however, which ... | |
| Currency Exchange | 8/23/2005 |
| Q: How are you? I am not sure if you're the best person to go to for the help I need, but you're the ... A: Victor,You can go to travelex.com and order $HK on-line. The minimum order is $100 & two day ... | |
| saving accounts | 8/16/2005 |
| Q: Why is it that forty years ago, I could put money into a savings account and the bank would give me ... A: Dave, Despite your memory, Reg Q did limit interest rates paid by insured institutions. The gifts, ... | |
| saving accounts | 8/14/2005 |
| Q: Why is it that forty years ago, I could put money into a savings account and the bank would give me ... A: Dave,Partly because forty years ago the market didn't determine interest rates paid by banks and and ... | |
| Death in Family | 8/11/2005 |
| Q: My Father just died, he had a joint checking account with my Mother and I am a signer on the account ... A: Sandy,I'm not really familiar with using a "power of attorney" designation on bank accounts. If ... | |
| Inquiry | 7/27/2005 |
| Q: I mean ITIN1)Can one use an ITN when asked for a SSN(Social security number) like when one is ... A: Abiodum, Sorry for the confusion. An ITIN (Individual Taxpayer Identification Number) is for federal ... | |
| Inquiry | 7/26/2005 |
| Q: 1)Can one use an ITN when asked for a SSN(Social security number) like when one is applying for a ... A: Abiodum, Not sure what a ITN is, maybe you mean TIN (Tax Identification Number). TIN'S are required ... | |
| writing checks | 7/13/2005 |
| Q: Is it still true that a person with a valid checking account can write a check on their account ... A: Eleanor, legally speaking, a nogotiable instrument such as a check may be written on anything, so ... | |
| Bank account | 4/30/2005 |
| Q: I reside in Nigeria,Africa and would like to open a bank account in the U.S for certain businees ... A: Since 9-11, The Patriot Act & enhanced "know your customer rules" ,it is difficult to open an ... | |
| Travel in Canada | 4/29/2005 |
| Q: I am planning an extensive trip throughout Canada this summer. I found an outfit called XEtrade ... A: John, I've had no experience relative to your inquiry. I did however go to National Bank of Canada's ... | |
| Re-opening a bank account | 4/22/2005 |
| Q: About two years ago my wife had a check account in a bank. I lost my job for several months and ... A: Hector, Whether or not you pay back the payees of your checks or the bank's return check fees, you ... | |
| fdic & banking in general | 4/17/2005 |
| Q: 000 fdic insurance limit may soon be an issue for me. In order for my money to be insured, do I ... A: Pat, Most ignore the limit when depositing greater than $100M in stable well known banks. You can ... | |
| Overdraft charges | 4/14/2005 |
| Q: Jim, are you familiar with which banks have special programs to avoid the common overdraft charges? ... A: Sarah, "Froggle" Overdraft Protection. This will provide you with banks who offer this service. ... | |
| Online bank branches | 4/9/2005 |
| Q: I've seen a couple of online branches of banks that are offering 3% or greater return in savings and ... A: Richard, If the institution is indeed a commercial bank or FDIC insured thrift institution, you're ... | |
| Using credit cards in Europe | 4/4/2005 |
| Q: Do you know if any of the credit card companies do not charge a fee if you use your card in European ... A: CMM, Most card issuers charge a currency exchange sur-charge of 2-3%. Those issuers who do not ... | |
| What is a Roth IRA? | 2/23/2005 |
| Q: I recently read in the paper that you could save a million dollars for your retirement if you put ... A: Dan, My math says that it would take an average rate of return of 22% to reach the one million ... | |
| Chex systems issues | 2/18/2005 |
| Q: I made some unfortunate choices in people to trust with my checkbook a while back, which got me into ... A: You're just one of many who is a victim of chex systems.Many are justly denied accounts; those who ... | |
| debit card | 2/11/2005 |
| Q: Followup To Question -I used my debit card online to gamble. Made charges on 01/27 01/28 and ... A: Carolyn, If the bank's position to the merchant is that the bank is not liable to the merchant then ... | |
| debit card | 2/10/2005 |
| Q: Followup To Question - I used my debit card online to gamble. Made charges on 01/27 01/28 and ... A: Carolyn, I just googled a couple of law firms & on the subject of eforceability of gambling debts, ... | |
| debit card | 2/10/2005 |
| Q: I used my debit card online to gamble. Made charges on 01/27 01/28 and 01/31. I cancelled the ... A: Carolyn, I'm not sure an offshore gamblling debt is even legally enforceable in the US. Even so I ... | |
| post dated checks | 2/7/2005 |
| Q: I live in the state of wisconsin and I received a check today, which should have been issued 2/1/05 ... A: Jane, It may be legal, but without knowing the underlying relationship between you and the company ... | |
| career | 1/2/2005 |
| Q: I am currently working as a Lab analyst with a big pharmaceutical company, I have a diploma in ... A: Mark, Hard to say. Depends on your market. I recommend finance and account courses. Should be a ... | |
| Equity LineOf Credit | 12/14/2004 |
| Q: I have currently been approved for a 100k equity line of credit.With the money I am starting a new ... A: Sorry, to be responding late. I've been traveling. I guess you've closed your loan by now & you ... | |
| ACCOUNT DISPUTE | 12/13/2004 |
| Q: I had a problem with B of A, they allowed someone to walk into the bank and withdraw 325 dollar with ... A: Mark, Most banks subscribe to a check reporting agency called Chex Systems. Banks use this data base ... | |
| buisness loans | 11/29/2004 |
| Q: I am Eric and I was wondering how much money down I need to have to have a 750 000$ business loan? ... A: Eric, Good idea to start saving early. As important as it is to save, its equally important to ... | |
| Traveller Checks | 11/4/2004 |
| Q: Where (from whom) and how can I buy Traveller Checks without paying commission? If one has a banking ... A: Bertil, I can't find a source for non-commission travlers checks. You might however consider & ... | |
| Checks | 10/21/2004 |
| Q: I would just like to know how long it takes for a check to expire. A: Oma, Most all states have adopted a form of the "Uniform Commercial Code". These are state laws ... | |
| ------------------------- ... | 10/20/2004 |
| Q: 1)What are the main reasons (detailed) why it is easier to find money from a bank to invest in real ... A: Claude, It can be easy to borrow from a bank, it just depends on who you are. Banks are risk ... | |
| free form | 10/8/2004 |
| Q: Iīm reading a text about Electronic Fund Transfer but English is not my native language and I donīt ... A: Priscila, Sorry to be late responding to you question I've been out of town. Your question is beyond ... | |
| cashing an inhereitance check | 10/6/2004 |
| Q: I have received my inhereitance check from my father's will. I want to open an account to invest and ... A: Cindy, Why not just deposit the check into your account & accept the bank's hold policy. Your ... | |
| Credit Card Payments | 9/30/2004 |
| Q: I live in Massachusetts, am unemployed and owe $40,000 on 4 credit cards plus a personal loan. I ... A: Charlie, The best postion to be in to negotiate a settlement is to be able to convince your ... | |
| Hi Jim I would like to... | 9/23/2004 |
| Q: I would like to know if it is possible for a foreigner to have and account in a foreign country. If ... A: Claude, I can't speak to laws & practices in other countries,however foreigners may open US bank ... | |
| is this legal or ethical | 9/22/2004 |
| Q: I have a mortgage with a local bank. I converted it from an ARM to fixed and due to some paperwork ... A: John, Without analyzing the specifics of the accounting issues you have raised: I can tell you this. ... | |
| Accepting international checks | 8/20/2004 |
| Q: Greetings Mr. Meadows, I have a potential client in the UK (I am located in California) who ... A: Shelton, Return deadlines are varied & murky and are determined by the form of te Uniform Commercial ... | |
| Accepting international checks | 8/19/2004 |
| Q: Greetings Mr. Meadows, I have a potential client in the UK (I am located in California) who ... A: Shelton, Any check which your bank gives you credit for is done "provisionally". By virtue of your ... | |
| Opening A Bank Account | 8/17/2004 |
| Q: I'm 22 years old and just starting out in the real world. I was wondering how would I go about ... A: Michael, All you should need is photo ID, your bank's minimum opening deposit amount, & your SS#. ... | |
| Bank Honoring Power of Attorney | 7/26/2004 |
| Q: I unexpectedly had to do friends banking and had a power of attorney drawn. I did all the banking ... A: Camille, You may have an action aginst the bank. You should demand return of your funds in writing. ... | |
| Getting a bank account & secured credit card. | 7/5/2004 |
| Q: I need to re establish myself and am having a hard time openning a bank account because of a couple ... A: You're just one of thousands who is a victim of chex systems. Many are justly denied accounts; those ... | |
| collection question (old credit card) | 6/19/2004 |
| Q: hey Jim, When i was young i got a credit card. now im older i still owe on the thing. because of ... A: Adam,Yes they can charge the interest, the collection agent as well. You can't tell to shave the ... | |
| Forgotten Bank Accounts | 6/16/2004 |
| Q: My lady friend mentioned the other day, as we happened to take a drive up to San Mateo, CA from San ... A: Don, Bank regulators do not have access to bank customer records. If the account became dormant it ... | |
| DEPOSITING A LARGE SUM | 6/4/2004 |
| Q: Theoretically, if a person receives a large sum of money at one time via a check, what's the best ... A: Monika, not sure what you mean by large, however, if its a check as you say, one would have to ... | |
| frozen account | 5/27/2004 |
| Q: To make a long story short, I have a contracting business. I owe the Union money. $25000. I have ... A: Dave, If the Union "froze" your account it sounds like they have a judgement against your company ... | |
| cashiers responsibilities | 5/11/2004 |
| Q: If a cashier notices very unusual (not normal) activity of a long time customers account,(in this ... A: Douglas, The job of the "cashier" (teller) you mentioned is defined by her employer and supported by ... | |
| Easy Question | 5/9/2004 |
| Q: I sell items on ebay and when I get a check I deposit it and hold it for a few days.My question is ... A: Skyler, Yours is not a dumb question but I don't have a straight answer. Assuming that the funds are ... | |
| making money | 4/26/2004 |
| Q: Lately I have been wanting to invest in something really bad. I have about 6000$ in the bank right ... A: Trent, A plan to double your money quickly is not investing, it's gambling. If that's your interest, ... | |
| Banking problem | 4/20/2004 |
| Q: I have a question for you. In the last two months, I have noticed a wierd bill payment coming from ... A: Tiffany, You are not liable for unathorized ACH debits to your account. Tell the bank that these are ... | |
| Bank account | 4/13/2004 |
| Q: I am currently on the Chexsystems and can't open a bank account. Can you tell me how or where I can ... A: You're just one of many who is a victim of chex systems.Many are justly denied accounts; those who ... | |
| bank error in my favor | 4/9/2004 |
| Q: Hey Jim, My bank, wachovia,credited my account 400 dollars last week. i know this money must ... A: Adam, Let's say you lost your wallet at your neighbors, but can't remember where you lost it. Your ... | |
| bank/delaware | 4/7/2004 |
| Q: sir, I would like to know what is the minimum deposit,and the formalities to open a bank account in ... A: Dominque, Banks have varying policies regarding new accounts but typically you will be asked to ... | |
| banking dispute | 3/28/2004 |
| Q: I have a long ongoing dispute with an internet bank that even the Better Business Bureau has been ... A: Jeffery , If you have been damaged, I suggest you talk to an attorney. For general complaints, you ... | |
| Checking Account | 3/17/2004 |
| Q: Is there a certain amount of time after which a personal check can no longer be cashed? A: Denise, Sorry for the delay in responding to your question. I'm in the process of moving. It is ... | |
| Certified check | 3/3/2004 |
| Q: Can a certified check be stopped or cancelled once issued by a bank. I'm being paid by certified ... A: Sal, Are you sure its a certified check not a cashiers check? Either way it should be safe. Banks ... | |
| A friend of mine is having... | 2/29/2004 |
| Q: A friend of mine is having finiancial issues. The situation is kind of convoluted and outlandish but ... A: Evan, If there is a trust agreement, it makes no difference whether or not Grandfather made mention ... | |
| Canadian open bank account in US? | 2/27/2004 |
| Q: I am living in Vancouver, Canada. I will be going to Seattle very often in the near future, I want ... A: Gus, If you are to remain a resident of Canada you can open a US account by offering your ID & by ... | |
| Checking account | 2/25/2004 |
| Q: My 20-year-old son is living at home while he works a full-time job and attends technical school ... A: One thing you haven't done is fail you son. Most parents, me includeded would be pround to have such ... | |
| Credit Card Payment | 2/19/2004 |
| Q: I received a letter yesterday from CitiBank saying they have terminated my business credit card ... A: Doug, Sounds like you're being thorough. Make sure you retain all the documentation. Also, when you ... | |
| Garshiment on checking account | 2/17/2004 |
| Q: I had a disagreement over a bill of $2000 they put a garshiment on my checking account I really like ... A: Sorry for your problems. If you have a garishment on your account this means that your creditor has ... | |
| Check card | 2/12/2004 |
| Q: do you know what is the best deal out there to earn air travel miles through use of bank card/check ... A: Vara, Most all airlines have a marketing arrangement with one or more brands such as AMX, Visa or ... | |
| Banking | 2/10/2004 |
| Q: I bank at Union Bank of California and when I deposit a large amount of check they hold for 10 days ... A: September, If your concern is primarliy the delayed credit problem you mentioned, you should check ... | |
| card issuer | 2/4/2004 |
| Q: what qualifications must a bank meet to become a card issuer of a card association ? A: Thuy, State & National Financial Institutions which are FDIC insured are all presumably eligible to ... | |
| CD funds | 10/30/2003 |
| Q: My checking account was overdrawn and my bank took funds from one of my certificate of deposit ... A: Mary, Yes, the bank can do this. It gets this right from the contracts you signed (signature cards. ... | |
| College investing | 9/13/2003 |
| Q: Meadows. I'm a divorced dad. I have a son,5 and a daughter 9. I put monry aside monthly for their ... A: John, You might want to investigate "529" college savings plans which are approved by all states. ... | |
| i got in a fight with my boyfriend... | 9/7/2003 |
| Q: i got in a fight with my boyfriend and he used my checking account info to pay for stuff that i ... A: Yom, Banks will typicaly not pay accounts overdrawn, but they can at ther option. Checks are usually ... | |
| Segregated bank account | 7/14/2003 |
| Q: I would like to ask what is exactly a segregated account in bank? If a company claim that clients' ... A: Tom, even though the company might segregate the funds, it just means that the company has an intent ... | |
| Twenty dollar Bills | 5/27/2003 |
| Q: We have a number of older issue twenty dollar bills that we have been saving. The new twenty doll ... A: Yo, Yoyo! As when new $100's were issued a few years ago, the exsisting 20's in circulation will not ... | |
| Transfer of Funds | 5/11/2003 |
| Q: Meadows, I will be filling out an application asking me how much I have in my checking/savings ... A: Most VOD's (verifications of deposit) will ask for balances as of a prior date. Sounds like yours is ... | |
| checking account | 2/19/2003 |
| Q: In 1999, my now husband bounced a $50 check and his bank reported this to Check Systems. We have ... A: Banks can be so dumb & being so inflexible when opening new accounts is among the dumbest. First ... | |
| Withdrawl From Savings/Checking Accounts | 2/17/2003 |
| Q: .. My question concerns the maximum amount of money that can be withdrawn at one time from a ... A: The general rule is that cash transactions of non-exempt customers must be reported (CTR's), when ... | |
| U.S. Banking Laws | 2/11/2003 |
| Q: 2/11/03 Jim: I am a writer currently working on a fiction project in which one of my characters is ... A: Time constraints keep me from fulling exploring all your questions in detail butI will do my best. ... | |
| reissuance of a check | 2/10/2003 |
| Q: I worked for a company several years ago and they paid me with a check. Today I was going through ... A: Cathy, The first thing I would reccommend you doing is to deposit the check into your account by ... | |
| How to be sure deposited check is 100% good | 2/8/2003 |
| Q: How can I be be sure that check I earlier deposited is 100% good? (make sure real money has ... A: Even when federal law under the Expedited Funds Availability Act provides depositors use of ... | |
| Bank error in my favor | 1/14/2003 |
| Q: My bank recently credited my account $1800.00. This happened just before christmas so I figured they ... A: You are not entitled to benefit from a mistake made by the bank and you are obligated to repay the ... | |
| Post-dated checks | 12/19/2002 |
| Q: We live in Georgia, and our situation is that a post-dated check was cashed before the clearly ... A: I didn't realize until today that I had failed to respond to your question, My sincere apologies for ... | |
| Deposits under a Power of Attorney | 11/28/2002 |
| Q: I need a business checking account with a bank that will allow deposits under a power of attorney. I ... A: Mike, Many small banks as well as big bank branches in smaller communities are not comfortable with ... | |
| Bank lost certified check | 11/24/2002 |
| Q: I would really appreciate your help on this perplexing and urgent problem. I am a US Citizen ... A: Sorry for the confusion. I read your second message without realizing that there was a first. As to ... | |
| Savings - Excess Transaction Activity | 11/20/2002 |
| Q: Meadows I am concerned about two letters that I received from my bank. Both letters dated ... A: There is a federal Reg "Q", which limits certain types of transactions on MM accounts, but not ... | |
| banking error | 11/9/2002 |
| Q: I am a long time customer with my bank. I have a clean record and never had any outstanding bills ... A: This is tough when nobody will admit to an error. You didn't say whether or not the bank paid or ... | |
Using Banks and Bank Accounts
Answers by Expert:
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.
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