Can anybody tell me how a bank functions?Dont lol...?
436650
In it's most basic form, a bank is started by investors who put money into the business.  Using this money, the bank makes loans and charges interest so they get back the money they lend and more.  Dividends can then be paid to the investors.  All the services of a bank are used to make more money.  For instance, you open a savings account and put money in the bank.  The bank pays you, say, 2% interest on your money.  The bank can now lend your money out for, say, 10% interest so they make money on your money.  This was a good question.
856499
that's how they keep money in the bank. There is actually never the amount of money in the bank that you and everyone else deposits. If everyone withdrew their money in one particular bank at the same time, the bank wouldn't be able to give you all your money. They need insufficent funds fees and monthly fees for accounts to be able to cover that money
722845
I suggest you to close all your accounts and move to another bank.\n\nI also suggest you to buy Microsoft Money 2005 Standard Edition or at least a notebook to write down all your deposits and withdrawals to keep your balance up to date so you don't overdrawn your account again.\n\nIt's a lot cheaper than £30 \n\nTop 3 Answerer in Business & Finance. (Vote for me)
1059428
Don't do it!!!! They charge really high interest.  If you had to write a check out of your personal account for them to hold until you can pay, they can cash that check as soon as your agreed upon time to pay has passed.  They do NOT have to tell you before they do it.  Then, not only do you have their stupid fees, you also have a charge from your bank for a returned check!!!!
764339
what kind of account?\n\neach bank/credit union is different and may have different rules and policies - so you will need to inquire directly with your bank.  ask for a schedule of fees & depositors agreement.\n\nhowever, there are federal rules set by the federal government, these are federal regulations, and there's quite a bit... to see them, click onto:\n\nhttp://www.federalreserve.gov/Regulations/
900992
I HATE it.  Honestly, thye never take out more, but they pick and choose what day to take it out, and I never really know how much money I have in my account. DON'T DO IT!
284508
Sounds like a scam to me.  Go to your bank right away and tell them you are a victim of fraud.  They may be able to reverse it.
891848
It's a bank draft Holly...It is guarenteed money...Bank's have a tendency to hold international cks longer than is needed...They make money on it while you wait....After all, we live in an instant computorized age. I would think 2 or 3 day's should be sufficient...Call a few banks and check their policies...2 to 8 week's is rediculous.... :)
866342
I set one up through my bank (Bank of America). Because I have a checking account I can make trades (buy or sell) for only 10 dollars each. It is a self directed account, meaning that I make all of the decisions regarding what stocks to buy, sell, etc. But it does offer some basic research tools and so far, some excellent customer service. I have been very pleased and highly recommend it-even though my stocks aren't doing as well as I had hoped;). Good luck.
576239
ATM/debit card are basically the same thing - you use them to get cash out (or make deposits) at ATM machines and some places will allow you to pay for things with them (Target, Walmart, grocery stores).  The money is drawn directly from your account, so - no money, no stuff.\n\nA credit card is borrowing money you don't have.  Most places accept them, but you don't pay for your stuff until the bill comes at the end of the month.  If you don't pay in full when the bill comes, the issuer tacks on this little thing called interest (often around 3-5% per month on the unpaid balance).  And for every month you don't pay in full, they continue to tack on more interest.  That means you bought for $100 dollars but now you're paying $120, $130, $140 or more for it, depending on how long you take to pay it back.  If you JUST pay the minimum (typically 1% or 1.5% of the balance), it will take you 40 YEARS to pay for it!  Honestly!\n\nCredit cards are VERY dangerous and, really, should be avoided.  If you save money from every paycheck, you will be able to get the things you need, plus many of the things you want without have to pay some bank to use their money.  PLUS - you get to keep the interest you make!\n\nThen there's this thing called a debit/credit card (or a check card).  It has the Visa/MC logo, but takes funds directly out of your account like a debit card.  It can be used at more places because of the logo AND since the funds are drawn directly from your account - no funds, no stuff.\n\nIf you have a large bank balance (say $10,000-15,000) when you go to apply for your home loan (the ONLY thing you should buy on credit because it appreciates), banks will WANT to lend you the money at a great rate because they see that you manage your money well because you don't spend every penny you earn (and more by using credit cards).\n\nALWAYS have cash in savings for emergencies.  They WILL happen, so it's best to be prepared.
426451
There are a few mothods.\n\nDepending on whether the retial outlet has a check verification system, they enter your detials on the system and verify the check.\n\nSecondly they stamp the check, which may be manually or via their cash register.  \n\nAt close of business all checks collected during the day are deposited into the bank.\n\nFrom that point onwards the Bank clearing systems handle the checks
1044307
No idea.  Call your bank.
1129901
All states have different banks, at 17 I opened my first account with a bank called First Citizens and they were great to do business with.They have toll free numbers if you need help and you actually speak with someone that can help you.\n\nMy cousin just opened an account with Bank of America and he had saved a bit of money up,come yesterday he deposited his paycheck and we went out of town.When we got there he tried getting money from an atm and it said he only had .57 cents in his account.He tried calling customer service but only got an automated response which was no help at all.My brother also dealt with the same bank,and they allowed overdrafts and caused his account to be messed up because it would say the money was there but then say it wasn't.\n\nWorse bank I know of is Wachovia.My fiance had an account there,and it went very bitter.Same with my father,he would deposit money and go shopping two days later and then they would say he had no money in the account,and charge him fees.Same thing with a few more people I know.
520718
Yes, they don't have to give you any money today, but they'll have 100 available on monday (the next business day)\n\nGovernment Regulation CC, says banks can place holds on checks. The first 100 to be available the next day. Local checks (by routing number not location, banks can be next door but still non-local) Are to be available in 2 business days unless an expection is made, if it's over 5,000 then the first 5000 is available in 2 days the rest in 7. NON LOCAL checks are different they are the first 5k in 5 days the rest in 11. They are doing this for your protection as well, you would hate to spend 30k and then find out a week later the check was bad.
694403
I hear you, but.........\nMy first "real" job many years ago when I was young and stupid (nothing's changed, I'm just no longer young) was with Midland Bank - they don't exist anymore, were bought out by HSBC.\nWe/They had a policy at the time to "discourage" what we described as "Flat-Cap" banking (think of the cartoon character Andy Cap)\nYes I accept that it was insulting, I'm not trying to defend or justify it.\nFlat-cap banking was the term used for people who were "told" by their employers that they would no longer get a real pay-packet with banknotes in it, they had to have their money paid into a bank account. It went in on friday and the whole lot came out on saturday (in those days by cashing a cheque over the counter, not through an ATM).\nThis was expensive for the banks - imagine walking into the newsagent and reading all their magazines and newspapers without actually *buying* one. - They don't need that sort of business.\nThese days I have a super-duper platinum a/c that costs me a tenner a month - for this I get free top-of-the-range AA membership (i.e. I can call them if My car is parked in front of my house and I can't be arsed to go buy petrol - they'll do it for me and check the oil/water/tyres etc), an interest-free overdraft without asking for an appointment with the manager and the 24/7 telephone number of *My* *Personal* banker who is english living in england rather than an offshored call-centre or a machine that will tell me how many people are ahead of me in the queue.\nBanking is a service, it costs money.
509118
That depends upon the bank, actually. Call the banks you are interested in, and ask what their opening deposits are. Factors such as account type and interest rates, if any, affect this.
657269
Check 21?  I'm sure there is more than one new banking rule. Can you specify to what it relates?  What do you mean by "new"? This month? This year? In the last 5 years?