Personal Banking

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 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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  • 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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  • What is the definition of "certified funds"?

    Q: What is the definition of "certified funds"?

    A: Certified funds are monies that are guaranteed by the bank. When a bank issues certified funds, the monies are already taken from the customer's bank account and are guaranteed to be available to the creditor, according to About.com.
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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 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 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 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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  • 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 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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  • 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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  • 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 can you use a SMS payment for?

    Q: What can you use a SMS payment for?

    A: SMS payments may be used to pay for digital goods and services, merchandise in retails stores and to transfer funds from one bank account to another individual or a business account. According to Mobile Transaction, as of 2013, the use of mobile phones to make SMS payments is growing rapidly among businesses and consumers.
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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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  • 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 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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  • 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 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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  • 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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  • 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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  • 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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