| Subject | Date Asked |
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| Wire Transfer | 10/22/2008 |
Q: My business account received a wire transfer in error. Whose responsibility is it to take action to ...
A: You should contact you bank and let them know about the error. It is possible that they transferred ...
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| Cash advances. | 10/8/2008 |
Q: Hey Alex. A friend of mines has been doing cash advances for months now and they have always fell ...
A: I think Bank of America would be since they never received the funds from Wachovia. As far as B of ...
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| opening a checking account | 9/30/2008 |
Q: what does the Patriot Act have to do with me opening a checking account? I have been told that ...
A: The Patriot Act requires banks to "help fight the funding of terrorism" by properly identifying all ...
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| Custodial account | 9/2/2008 |
Q: Years ago I opened a custodial account for each of my children. A couple years ago the bank told me ...
A: A signer is another term banks use for legal owner of the account. If I understand correctly how ...
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| Custodial account | 8/28/2008 |
Q: Years ago I opened a custodial account for each of my children. A couple years ago the bank told me ...
A: I think I will address the custodial account first. Unless there is a specific age identified in ...
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| Joint Checking | 8/24/2008 |
Q: Recently I opened a joint checking account with a friend who was going though a hard time. The ...
A: Unfortunately when you opened the joint account you became a legal owner of the account and can not ...
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| non profit banking | 8/20/2008 |
Q: I have just incorporated as a non profit with the state of Florida and am looking for a bank. What ...
A: Most banks offer checking accounts that have little or no fees for non profits and pay interest. I ...
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| using atm in argentina | 7/29/2008 |
Q: each timeI use an ATM here I am told I can only get 320 pesos on one transaction, up to 3 times per ...
A: The owner of the ATM that you are using can set limits on withdrawals and charge service fees for ...
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| fraudulent traveler's checks | 7/28/2008 |
Q: I received fraudulent traveler's checks without knowing they were bad. I deposited them in my Credit ...
A: I understand your point, but all checks drawn off another institution could be considered ...
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| safety deposit boxes | 7/23/2008 |
Q: If my local bank fails, what happens to items in my saftey deposit box? I have other accounts at ...
A: The FDIC will keep the branch facility open if the bank were to fail. You would have normal access ...
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| Check cashing fees for non-customers | 7/16/2008 |
Q: My son tried to cash a pay check written on a Chase Bank account. He is not a Chase customer and ...
A: I agree, that is outrageous, but not uncommon with large banks like Chase. I know that Key Bank and ...
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| safe deposit boxes | 7/13/2008 |
Q: I have a question that is raised by concerns nowadays on the possibility of bank failures. Suppose ...
A: First of all I have to tell you that it is never a good idea to keep cash in a safe deposit box with ...
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| online banking? | 7/10/2008 |
Q: for example, in my spare time i fill out surveys and questionares and the companies need to send the ...
A: I always suggest setting up a second bank account to use only for PayPal or other online ...
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| Cashing cheques (of issuing bank) at drive up teller | 7/5/2008 |
Q: I am curious as to how UCC § 3-502 effects cashing cheques at a drive up teller. The cheque in ...
A: Cash limits in the drive up are not regulated so each bank has a their own policies. Since you ...
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| direct withdrawal | 6/30/2008 |
Q: I worked for a company for about two years and had to quit because of an abusive boss. I did not ...
A: It depends on the paperwork that you signed to set-up your direct deposit with your employer. Most ...
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| Minor banking solution. | 6/27/2008 |
Q: Sir, I, Sushmita Rao, am currently residing in India. I have acquired admission into Berkeley ...
A: To open a bank account when you are under 18 you must have someone 18 or older on the account with ...
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| check cashing or deposit | 6/26/2008 |
Q: my wife has a bank account with Bank of America. i currently don't have a bank account due to ...
A: The best way is to go to the bank together. You can sign the refund check over to her and she can ...
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| Checks Written to a Company and Deposit Policies | 6/6/2008 |
Q: We had an established LLC and bank account in the LLC's name. Well as you can imagine one partner ...
A: No it is not Barbara. If the check was payable to the LLC then it can only be deposited into an ...
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| safety deposit box | 6/6/2008 |
Q: I went to my safety deposit box and found my key did not work. Ultimately, the determined the bank ...
A: Sounds like bad record keeping to me! I could not find any regs that govern Safe Deposit Boxes, so ...
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| fraudulent traveler's checks | 6/3/2008 |
Q: I received fraudulent traveler's checks without knowing they were bad. I deposited them in my Credit ...
A: Reg CC governs delaying the availability of funds. From what you described the bank did not ...
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| Bank taking loan out of checking. | 5/30/2008 |
Q: My question is that my sister has a loan at a savings and loan. She is a few days late, so the bank ...
A: Because your brother's account is joint every signer is considered a legal owner of the account, ...
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| Back of Check Info | 5/2/2008 |
Q: I recently won a judgment against a guy who took a deposit from me and ran. It's not enough to ...
A: You are not required to put your account number on the back of a check. It is actually to prevent a ...
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| Mom's joint bank account with her niece | 4/26/2008 |
Q: My mom passed away (intestate) over a year ago. Due to difficulties an administrator was just ...
A: I am sorry to hear about your mom, and I am sorry that I do not have better news. Joint accounts ...
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| bank account garnishment | 3/27/2008 |
Q: How do credit collection agencies find out where you bank and your account number in order to freeze ...
A: Financial Institutions receive court orders to levy accounts and they research to see if the person ...
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| old bank account | 3/10/2008 |
Q: Well my situation is a bit complicated since there is no more Bank 1 ant longer. I really would like ...
A: Whoever took over Bank 1's accounts would have all of the records from Bank 1. You should visit a ...
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| State tax return cashed by ex with no endorsements | 2/27/2008 |
Q: My boyfriends ex-wife cashed their joint Oregon State kicker check with no endorsements into her ...
A: As far as I know this is not a violation of the US Patriot Act. That act was created after 9/11 to ...
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| scam | 2/26/2008 |
Q: my son is 17 years old and has a savings acct. with Wash. Mutual. I signed the acct. sig. card when ...
A: As long as your son is a signer on his savings account (It is not a UTMA account) then he is able to ...
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| canadian wants countrywide bank account | 2/21/2008 |
Q: i am a Canadian who wants to open a savinglink bank account with countrywide bank (US BANK)They said ...
A: I don't see why not. I am not familiar with that bank, but as long as they are FDIC insured you ...
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| Check cashing | 2/10/2008 |
Q: I would like to know why a bank can charge me a check cashing fee (even though the check is payable ...
A: Glenn, As shady as this is, banks can charge any fee as long as they disclose it to you. The fact ...
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| Lack of endorsement | 2/8/2008 |
Q: We were hired by a insurance company to provide a service to an insured homeowner. Payment was in ...
A: I would seek legal advice. As long as the check was payable to you AND the homeowner you should be ...
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| Minor Custodial Savings Account | 2/5/2008 |
Q: At what point can a student (just turned 18) request that the name on a minor custodial account be ...
A: The UTMA can restrict your access up to age 25, depending on how it was set up. The best thing for ...
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| joint checking account | 2/1/2008 |
Q: My wife is not in the US yet but she has an ITIN assigned to her. Is it possible for me to open an ...
A: Because of the US Patriot Act, a bank cannot open an account for a new customer without verifying ...
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| joint checkings | 1/31/2008 |
Q: my fiance and i are looking to start a joint checking account at a bank with agood APY or interest ...
A: It would depend on how much money you have to put into the bank. Most banks have a premier checking ...
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| deposit slips | 1/22/2008 |
Q: I have filled out "generic" deposit slips to a bank account. The ones at the booth before you get to ...
A: Your bank should have the deposit slips on file. I am not sure of the retention on those items, but ...
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| Stolen Check | 1/12/2008 |
Q: I invoiced a company for goods delivered ($6,000). Their records show that a check was sent made out ...
A: Your customer would need to contact their police department since they were a victim of fraud. Then ...
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| Account frozen | 12/31/2007 |
Q: My girlfriend's checking acount has been frozen/garnished, (i am not sure of the correct term) due ...
A: Laws might depend on the state, but it has been my experience that your checking account can not be ...
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| Withdrawals from UTMA accounts | 12/29/2007 |
Q: If the custodian of an UTMA account wants to close said account, must the bank make out a check ...
A: The bank would need to make the check payable to "Robin Sample FBO Child Sample" since it is the ...
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| certified check | 12/20/2007 |
Q: i received a certified check from a company to purchase a vehicle of mine.i cashed the check at my ...
A: Shane, The bank is not at fault. They are not required to verify funds or verify authenticity of ...
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| Garnishment of by account...by the same bank | 12/17/2007 |
Q: My bank recently garnished my checking account...leaving $4 in the account...for what I found out to ...
A: There is probably a right of offset clause in the deposit agreement that allows your bank to what ...
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| ATM card | 12/15/2007 |
Q: can you tell me specifically about the advantages and disadvantages of using ATM card
A: ATM cards are very safe and easy to use. I would recommend getting a VISA Check/Debit Card. They ...
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| Overdrawn account | 12/10/2007 |
Q: I was just wondering how long a bank will continue to pay for things purchased when the bank account ...
A: Let me break down your questions: 1)"how long a bank will continue to pay for things purchased when ...
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| FDIC | 12/8/2007 |
Q: Are there ways to extend my FDIC coverage over $100K without involving another person?
A: A, There are several ways to gain more coverage at the same bank. Your single ownership account ...
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| on line banking regs | 12/3/2007 |
Q: is it mandatory that customers be profiled as to their banking usage when opening an account on ...
A: I don't think so...how would they know as it is probably a variable amount. We do no such thing at ...
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| banks notifying feds withdrawl limit | 12/1/2007 |
Q: How much can I withdrawl from my savings account before the bank is obligated to notify the Feds? ...
A: Sorry Jeff, It is illegal for me to answer this question. All I can say is if you are not doing ...
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| The n day delay for electronic transfers | 11/30/2007 |
Q: I am a retired scientist and I'm quite familiar with the speed of computers today. My problem is ...
A: The process is actually fast, but the timing is why it can take so long. If you send an ACH to your ...
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| IRS Refund Checks | 11/21/2007 |
Q: I received a refund check but they spelled my wife's name wrong...its an obvious mistake...what can ...
A: Banks are cautious when negotiating "and" checks. If you both have accounts at the same bank they ...
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| bank transfers/withdrawls/overdrafts | 11/17/2007 |
Q: Here's what happened. My son calls me and asks " Have you transfered money into his account. I said ...
A: You have a lot of questions, so lets see if I can help you out. 1. Call your credit cards and see ...
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| Banking and Minors | 11/13/2007 |
Q: I work at a bank and was recently told by a customer that it is illegal to speak with a minor ...
A: I think it would depend on how the account is set up, but if he has a debit card then he is ...
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| Deposit in dollars from foreign country | 11/10/2007 |
Q: I will be selling my apartment in the Republic of Georgia(country next to Russia). I should be ...
A: from a US banking standpoint you will not be taxed, but will probably pay $5 fee to receive your ...
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| Charged off account | 11/7/2007 |
Q: This is my status: 1. My Chase bank account has been charged off ($ -200 balance) due to negligence ...
A: If Chase reported you to ChexSystems then you might have a problem, but it will depend on the bank. ...
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| joint bank account | 10/27/2007 |
Q: I'm about to get married and my fiancee and I are considering starting a joint bank account. She ...
A: That is not true at all. A joint account gives full ownership to each signer. In this stance you ...
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| deposits | 10/25/2007 |
Q: Is there a regulation that prohibits commercial banks from witholding a deposit from your available ...
A: Reg CC Governs the availability of funds. Since I do not know what you deposited here is the basic ...
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| Requirements to open bank account | 10/25/2007 |
Q: I read that the banks cannot legally require a person to provide a SS# to open an account. Is that ...
A: including a child's SSN. More information on how the US Patriot Act affects banks visit: ...
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| Gov't check deposit | 10/10/2007 |
Q: on 10/3 i night deposited a Gov't check to my CU. They called 10/8 saying it wasn't endorsed and ...
A: Unfortunately credit unions are under different regulations ten banks, so I can not completely ...
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| canadian certified check | 10/9/2007 |
Q: on Sept 20 2007 I put a ($125,000.00)Canadian certified check into escrow for a property purchase.In ...
A: Reg CC gives banks guidelines as to how long a bank can hold funds, but some of it can depend on ...
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| What to do with 2 million Dollars each | 10/6/2007 |
Q: My Sister and I are going to get 2 million dollars each and I was wondering what do you advice to do ...
A: Sometimes local banks provide better customer service, but if they are too small they won't have ...
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| What to do with 2 million Dollars each | 10/4/2007 |
Q: My Sister and I are going to get 2 million dollars each and I was wondering what do you advice to do ...
A: I think it would be better to visit your bank and see what options are available to you. That way a ...
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| opening a savings account (non-u.s. citizen) | 10/1/2007 |
Q: i'll be having a few months training in houston, i want to open a savings account there, partly for ...
A: All you will need is a passport and a tax id number that the government assigns to you. You will ...
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| travlers check | 9/26/2007 |
Q: if you receive a travlers check from someone can you go to your bank that you bank with and will ...
A: Your bank will treat the check just like any other check that you would take to the bank to cash. ...
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| Check Cashing | 9/24/2007 |
Q: I recently received a Wisconsin Goverment check for $15,000. The issuing bank is US Bank. Now, it is ...
A: Any bank is required to cash a check that is drawn off of their bank as long is the check does not ...
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| hi | 9/14/2007 |
Q: i wish to cash a big student loan chekc at a bank where i am not an acct holder assuming they agree ...
A: Yom, The basic question you are asking is will a bank hold your loan check that you are trying to ...
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| wife's rights to husbands account | 9/6/2007 |
Q: I have a friend that works in the medical field with me. Her husband also works in the medical field ...
A: Ruth, "Can she get access to an account her husband has and see how much money is going thru the ...
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| Transferring money from business account | 9/6/2007 |
Q: Why might a bank not allow online transfers from business account to a personal account?
A: It would depend on if you are a sole prop. If you are there should be no problem. If your business ...
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| Cashing a post dated check | 8/31/2007 |
Q: If I deposit a post dated check in my checking account and the bank accepts it but the cashing bank ...
A: If the paying bank refuses to clear a post dated check the process is the same as a NSF check. Your ...
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| paying by check over phone using track. number | 8/24/2007 |
Q: My daughter had a debt collector call her and threaten her with criminal prosecution in order to get ...
A: Celeste, My advice to you would be to close the checking account. Once someone knows your account ...
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| i'm new to savings accounts | 8/23/2007 |
Q: how are you? I am new to savings accounts, but this is what I am planning on doing. I researched ...
A: I am doing well thanks. I am going to break down your questions so I can answer them for you. ...
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| Accnts w/ my Boyfriend's name he doesnt know about | 8/22/2007 |
Q: My friend was recently told he has a joint bank account with his wife that he has been separated ...
A: Because of privacy policies banks will not disclose the names of their customers, so there is no ...
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| lost bank check | 8/22/2007 |
Q: I withdrew some money from my checking account in the form of a bank check (about 6 weeks ago) and ...
A: Because bank checks are considered guaranteed funds most banks will make you wait six months from ...
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| Joint Credit Union Checking Account | 8/20/2007 |
Q: A friend and I opened a joint checking account back in the early 90's. We parted company, she moved ...
A: I suggest that you talk with an attorney. This is a much bigger situation then the bank ...
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| FDIC insured accounts | 8/18/2007 |
Q: I hold two CD accounts with Countrywide Bank. With reference to current rumors, if this company goes ...
A: Although it is easy to worry, your money is safe. Most banks have a separate company for mortgage ...
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| Cashing euros | 8/12/2007 |
Q: I have been paid with an Italy-issued moneygram for 80- euros. No one seems willing to cash it, even ...
A: As you have found out, cashing checks from foreign banks can be quite difficult. The simplest ...
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| regarding banks | 1/5/2007 |
Q: May i know whether a bank with the name Laagste Heypotheekofferte Bank . N.L.,exists in ...
A: I don't know if it is a real bank, but they have been involved in many lottery scams. Try a Google ...
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| old checks | 1/3/2007 |
Q: can you cash a check that is 10 years old?
A: Chris, Probably not, managers will make case-by case decisions so they might make an exception ...
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| Banks | 12/30/2006 |
Q: What is interest rates in current account and how does it work? Is a higher interest rate in a ...
A: Think of interest rate as a fee that is paid to someone for using his or her money. A bank will pay ...
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