Banking

To further protect your online security, active links from Q&A has been disabled!

I have never had a bank account because I never had a job until now. I don't make much but well, it's better than nothing. I'm just a student and I'm clueless when it comes to banks. What kind of account should I get and at what bank?

Best Answer

Basic chequing (checking if you're American) account. Figure out how many transactions u think u will have in a typical month. Transactions r deposits & withdrawals. Withdrawals include how many cheques (or checks for the yanks) u will write, how many debit card transactions approximately, how many bills u'll need to pay out of ur account. Sit down with a bank representative and they can help you figure out which is the proper account and fee structure for u. I just did this recently myself. Most banks have special student accounts with lower or no fees.

I checked my bank account online yesterday and noticed that i was overdrawn by 83 cents. So i tranfered 50 dollars from my savings account to cover it. The debit that put me over was post dated for the 26th which is tomorrow. I am wondering if since by the time the bank gets the debit i will have sufficient funds, if i will be charged the 25 dollar fee? If so, is there ne thing i can do about it since im only 17 and have only had the account open for a month?

Best Answer

You shouldn't be charged a fee for being overdrawn if the money your transferred is posted to your account by the time the the debit reaches your bank.

What is an instrument issued by banks, substituting the credit standing of the Bank for the credit standing of the importer (buyer) of goods? a. letter of credit b. promisary note c. international ACH d.draft

Best Answer

Definitely Letter of credit.

My friend of mine has lent me £30 via online banking to buy a xbox 360. The offer for the 360 ends on the 30th of May so I need to of recieved the payment by then. He sent the money from natwest online banking on Saturday, but its a bank holiday today and apparently it takes 3 business for the money to clear. So if anyone has used online banking to send payments could you tell me how long it takes for the other person to recieve the payment. And also, if I dont recieve the payment on time and go down to the bank and put cash into my bank, will that instantly go into my bank balance?? Thanks.

Best Answer

usually 2-3 business days

On friday at 6 o'clock i deposited 80 dollars cash into my checking account, The bank said since it was cash it would be in my account as soon as it was counted on monday at 2, but it wasn't. I talked to my bank and they said it would be there tomorrow. Is this normal and will it be like this every time i deposit cash?

Best Answer

Depositing cash at a bank on Friday at 6:00 pm is the same as depositing cash Monday morning at 9:00 am. That means the funds will appear in the account the following business day. If you had deposited the cash Friday before 4:00 pm, the funds should be available the following Monday (after 2), barring any National holidays.