Checks - Banks Act

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Six Tips for Overdraft-Proofing Your Account

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Checking & Savings: Many banks and credit unions routinely allow debit and check transactions to go through even if there isn't enough money in the user's account. Then they slam their customers with overdraft fees, usually without a warning, at the time of purchase, claiming this "service" protects people from bounced checks and declined transactions. If you have been on the receiving end of this practice, you know that a single $5 transaction can trigger a $30 to $35 overdraft fee, while a series of overdraft purchases in a single day can rack up hundreds of dollars in fees. The people most at risk are consume...

Bank Expert on December 8, 2009 0

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Checks and Personal Checks

Checking & Savings: Banks and banking establishments have used checks since at least the 1500s, when Dutch “cashiers” accepted written notes from those who had entrusted them with their money (known then, and now, as “depositers”) for some or all of the money that the “cashiers” were holding. That practice is still in use today. Despite the efforts of some organizations, companies, businesses, and others to move us towards a “paperless” society, many people still prefer to use printed checks to conduct financial transactions. Printed checks remain a very convenient, secure banking practice. Usin...

Bank Expert on December 1, 2009 0

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Bank error in your favor? Your problem

Bank Insider: If you find a $20 bill on a deserted street, "finders keepers" is the general rule. But how about a bank error in your favor? Or extra, unearned money in your paycheck? Or an unexpected, unexplained check in the mail? Turns out there are some pretty firm rules about these windfalls. And the outcome usually isn't in your favor. There are, in fact, several types of found money you shouldn't count on keeping. Unexplained windfalls A Minneapolis woman may well become the poster child for what not to do with an unexpected gain. According to a complaint filed by the state of Minnesota, the 37-yea...

Bank Expert on November 18, 2009 0

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Anatomy of a bank account statement

Checking & Savings: Your monthly bank account statement gives you a detailed review of the activity in your account for a specific period of time. It's your best opportunity to make sure your records match the bank's. Check the statement When your statement arrives, look near the top of it for the starting and ending dates -- the period the statement covers. Get your checkbook register and be prepared to match up every debit and credit on the statement with your register. It's crucial that you review it in a timely fashion because if there are any discrepancies you ne...

Bank Expert on November 12, 2009 0

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Types of checking accounts

Checking & Savings: For most people, the centerpiece of their relationship with their bank is a checking account. Studies have shown that consumers overwhelmingly define “their” bank as the institution where their checking accounts are held, not the bank where they may have a mortgage or certificate of deposit. It’s no wonder that banks throw a sizeable amount of money toward attracting and retaining consumer checking accounts. In this chapter, we’ll go over the various types of checking accounts and the importance of selecting the account that’s right for you. You’ll also learn the ins and ...

Bank Expert on November 12, 2009 0

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Bank Drafts vs.Checks

Checking & Savings: Bank drafts, that are often called a certified checks (in the USA) means that after examining the checking account bank guarantees that there are sufficient funds to pay for the check when it is cashed. Cashier's Check Cashier's checks are very similar to bank drafts; certified checks or cashier’s checks even take the place of bank drafts in the USA. The term “cashier’s checks” is more often used in the USA. The remitter buys a cashier’s check. He or she purchases the checks directly from the bank; in such way bank ...

Bank Expert on September 3, 2009 0

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Free Checking Account

Checking & Savings: Free checking account is a very useful and convenient thing for them, who know how it works. This article will help you to understand how free checking works and why banks offer it. Offer Free Checking Account Free checking account is the way to save your money that banks usually offer. Banks usually propose you to make a small deposit and your account will be opened. Free checking means that there is no annual fee or low balance fee. Besides you will have opportunity to have free checks for life with free checking.To make the right decision you should know what fre...

Bank Expert on August 16, 2009 0

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