Personal Banking

A:

ATM is an abbreviation for automated teller machine. These telecommunications devices allow card-holding banking customers access to their accounts and funds at any time and in places outside of their institution's branches.

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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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  • What is online bill payment?

    Q: What is online bill payment?

    A: Online bill payment uses the electronic transfer of funds to pay bills without having to write a check or mail a voucher. Companies may make online payment options available to their customers. Alternatively, a bank or another third party may be set up to pay a variety of bills.
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  • How long does it take for a check to clear?

    Q: How long does it take for a check to clear?

    A: The time it takes for a check to clear depends on the nature of the deposit and the underlying bank’s policies. When banks process checks, the funds are taken from the issuer’s checking account and sent to the recipient’s account. The receiving bank requests the funds from the issuer’s bank, and if the funds are available, the check clears in roughly one to two business days.
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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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  • 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 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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  • 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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  • 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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  • What is a stale check?

    Q: What is a stale check?

    A: A stale check is one that is presented for payment six months or more past the date on its face. Banks are under no obligation to cash a stale check unless it is a certified check; however, the institution can cash the instrument if it appears to be a payment made in good faith. Each financial institution may have its own policy on whether to pay or decline these checks.
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  • What is the importance of computers in the banking industry?

    Q: What is the importance of computers in the banking industry?

    A: Computers allow banks to provide ATM services, online banking, speedier transactions and accurate tracking and verification of funds. They also make banking institutions more secure through enhanced security and surveillance setups.
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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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  • 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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  • 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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  • How long does it take to process a refund on a debit card?

    Q: How long does it take to process a refund on a debit card?

    A: Refunds are generally processed and funds returned to the debit card on the customer's bank account within 10 business days. However, there are cases in which a refund takes longer to process.
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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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  • 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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  • What is the purpose of petty cash?

    Q: What is the purpose of petty cash?

    A: The purpose of petty cash is to pay for minimally priced business transactions in a cost effective way. Petty cash can only be used for transactions that are not reported to the Internal Revenue Service.
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  • What is Brazil's money called?

    Q: What is Brazil's money called?

    A: Brazil's monetary system is based on the Brazilian real (BRL). Brazilian coins, called centavos, are worth a percentage of the real. Paper money is in multiples of reals.
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  • What are disadvantages of electronic funds transfer?

    Q: What are disadvantages of electronic funds transfer?

    A: A disadvantage of electronic funds transfer (EFT) is that the process cannot be reversed if a sender should enter an incorrect account number. The APSense website states that other disadvantages associated with EFT include the potential for hacking of personal banking details and periodic technical difficulties.
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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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  • 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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