Personal Banking

A:

It is possible to open a checking account with no initial deposit. On its website, First National Bank indicates this as one of the key features of its basic checking account. Nationwide also has a no-initial-deposit option, but a $25 minimum monthly direct deposit is required.

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  • What Is Telebanking?

    Q: What Is Telebanking?

    A: Telebanking is the process of handling bank accounts over the phone. It is also referred to as telephone banking. This service is commonly offered by banks, credit unions and credit card companies. There are often fees associated with using this service.
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  • What Is a Check Endorsement?

    Q: What Is a Check Endorsement?

    A: A check endorsement is a signature on the back of a check. Financial institutions require all parties listed on the check to sign the back to be able to cash or deposit the check. A check typically has a designated area for customers to sign, and it is usually marked with the statement "Do not write, stamp or sign below this line."
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  • Where Can I Find My Bank Transit Number?

    Q: Where Can I Find My Bank Transit Number?

    A: The bank transit number is located on the bottom of the check. Every check received from a federally funded financial institution contains a bank transit number which is called a routing number.
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  • How Do I Open a Checking Account Online?

    Q: How Do I Open a Checking Account Online?

    A: To open a checking account online, choose a specific bank and visit their company website to follow the outlined steps. According to Regions Bank, some banks allow clients to open a checking account from the privacy of their own homes, as long as they already have certain vital information.
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  • What Grocery Stores Cash Money Orders?

    Q: What Grocery Stores Cash Money Orders?

    A: A select few grocery stores cash money orders, including Giant Eagle, Food Lion, Food Land and Publix. In addition, some chain stores, such as CVS and Ace Check Cashing, also cash money orders.
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  • How Long Do You Have to Cash a Personal Check?

    Q: How Long Do You Have to Cash a Personal Check?

    A: According to the Consumer Financial Protection Bureau, a personal check must be cashed within six months to ensure payment. After six months, banks and credit unions are not required to cash the check.
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  • How Do You Change a Debit Card PIN Number?

    Q: How Do You Change a Debit Card PIN Number?

    A: To change a debit card PIN number, customers must contact their banking institution by phone or in person, and verify their identities through a series of security questions. Once the customer's identity is verified, he or she will be instructed to enter a new PIN number into a bank keypad or their telephone keypad. There are also some banking institutions that allow their customers to change their debit card PIN number online.
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  • What Is the Difference Between a Credit Union Vs. a Bank?

    Q: What Is the Difference Between a Credit Union Vs. a Bank?

    A: The difference between a credit union and a bank is the ownership. Credit unions are non-profit cooperatives owned by their members, while banks are for-profit entities. They are also insured by different federal agencies; credit unions are insured by the NCUSIF and banks are insured by the FDIC.
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  • What Is the Difference Between Financial and Real Assets?

    Q: What Is the Difference Between Financial and Real Assets?

    A: The main difference between financial and real assets is that financial assets are cash and securities, such as stocks and bonds, whereas real assets represent tangible possessions, such as real estate, production equipment and inventory. Generally, financial assets are more liquid than real assets because they can be readily converted to cash. Real assets take considerably more time to sell.
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  • Do Cashier's Checks Expire?

    Q: Do Cashier's Checks Expire?

    A: Cashier's checks themselves do not expire as personal checks do. However, the funds behind the check are subject to state escheat laws.
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  • Who Is Responsible for a Person's Medical Bills After That Person Dies?

    Q: Who Is Responsible for a Person's Medical Bills After That Person Dies?

    A: After death, a person's unpaid medical bills are the responsibility of the person's insurance company and the estate, according to Debt.org. Once a person dies, all of the assets associated with that person, including any house, car, life insurance and other monies, pass into an estate. The estate is typically handled by an executor named in the deceased's will.
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  • How Long Is a Check Valid For?

    Q: How Long Is a Check Valid For?

    A: Checks generally do not have expiration dates, and banks may cash checks even if they were written more than six months in the past. However, banks have the option to honor or dishonor a check more than six months old.
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  • How Long Does It Take to Get an Unemployment Check?

    Q: How Long Does It Take to Get an Unemployment Check?

    A: Unemployment checks typically begin to arrive two to three weeks after the state unemployment agency receives an unemployment claim. The process takes this long because the agency must process the unemployment claim, making sure the information is accurate and the claim is valid.
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  • Where Can You Cash a Check on Sunday?

    Q: Where Can You Cash a Check on Sunday?

    A: Depending on the type of check, there are several locations available for cashing a check on Sunday. Some banks, such as TCF Bank, are open on Sundays. Other locations include Wal-Mart, Kmart, certain grocery stores, select convenience stores such as 7-Eleven or a check cashing store such as Ace Cash Express.
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  • How Long Are Travelers Cheques Valid For?

    Q: How Long Are Travelers Cheques Valid For?

    A: Two main companies, American Express and Thomas Cook, issue travellers cheques, and neither of the products have expiration dates. According to American Express, unused cheques can be saved for future trips or cashed out when no longer needed.
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  • What Is the Definition of Withdrawal Slip?

    Q: What Is the Definition of Withdrawal Slip?

    A: A withdrawal slip is a bank document on which a person writes the date, account number and amount of money to withdraw from a bank. It is called a withdrawal slip because it is used to make a withdrawal from a person’s account. It includes important information that allows the bank to keep an accurate record of the withdrawal and provide the required amount.
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  • What Is the Role of a Personal Banker?

    Q: What Is the Role of a Personal Banker?

    A: A personal banker is employed in a bank or another financial institution and helps customers manage their money and find appropriate solutions for their financial needs. Personal bankers must have a strong working knowledge of the types of services that their financial institution offers and be able to share this information with clients to accommodate their economic desires.
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  • Where Is the Account Number on My Debit Card?

    Q: Where Is the Account Number on My Debit Card?

    A: The account number associated with a debit card is not located anywhere on the card; rather, the number located on the middle of the front side of a debit card is that card's number itself. The number on the back side of the card, typically three digits, is used to secure the instrument better and to protect against fraudulent use.
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  • What Is the Difference Between Chapter 7 Vs. Chapter 13 Bankruptcy?

    Q: What Is the Difference Between Chapter 7 Vs. Chapter 13 Bankruptcy?

    A: Nolo defines Chapter 7 bankruptcy as when an individual asks the courts to erase a majority of the debts that he owes and Chapter 13 bankruptcy as when an individual applies for a repayment plan to pay back either all or a percentage of his debt over a specific period of time. A bankruptcy trustee is allowed to take non-exempt property if the individual files for Chapter 7 bankruptcy.
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  • Where Are Coinstar Locations?

    Q: Where Are Coinstar Locations?

    A: Coinstar offers a kiosk finder on its website to allow customers to find a location using their city and state or zip code. Kiosks are located throughout the United States, Canada, the United Kingdom, and Ireland.
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  • What Is the Definition of a Dishonored Check?

    Q: What Is the Definition of a Dishonored Check?

    A: A dishonored check is defined as a check that has been presented to a banking institution for payment and has been returned to the depositor due to insufficient funds. Dishonored checks are also referred to as bounced checks or returned checks.
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