For married couples, the decision on whether to have joint or separate accounts can be a tough one. But if you have an account of your own, unless your spouse has rights to it, you will be th...
http://finance.zacks.com/can-spouse-legally-withdraw-funds-bank-account-1381.html
Although both the ACH debit and direct deposit work through the same ACH system, they themselves are not the same. An ACH debit will electronically remove funds from your account to pay a bill. A...
http://finance.zacks.com/ach-debit-vs-direct-deposit-2207.html
With daily compounding, interest is calculated on the account balance every single day, 365 days per year. With quarterly compounding, it is only added once every three months or four times a...
http://finance.zacks.com/difference-between-interest-compounding-daily-quarterly-1209.html
Joint bank account rules usually let either account holder do whatever they wish with a joint bank account, even if the other account holder put some or all of the funds into the account. Mak...
http://finance.zacks.com/joint-checking-account-laws-1651.html
You can open a joint checking account with anyone you like. While you do not have to be married to have a joint account, you should be careful when deciding to share an account with someone. ...
The interest on a revolving loan, typically offered as a line of credit, follows a different amortization schedule than certain other types of loans. The interest continues to accrue, based on th...
http://finance.zacks.com/interest-work-revolving-loan-7668.html
A standby letter of credit and a bank guarantee are similar in that they're often used in international transactions and they are also used in the United States for transactions where you hav...
http://finance.zacks.com/standby-letter-credit-vs-bank-guarantee-5601.html
A Totten trust and a payable-on-death account are informal revocable trusts that give banks and financial institutions instructions on how to distribute or transfer the assets of the account upon...
http://finance.zacks.com/differences-between-totten-trust-payableondeath-account-3584.html
Accrued interest doesn't refer to a special kind of interest. The term simply designates ordinary interest that hasn't yet been paid out to a lender. It's recorded on a corporate balance shee...
http://finance.zacks.com/difference-between-regular-interest-accrued-interest-10148.html
For most people, a checking account is an important basic financial tool for paying bills. For those seeking to protect their money, a savings account offers little risk, even if yields are l...
http://finance.zacks.com/advantages-disadvantages-savings-checking-accounts-3843.html
It can be extremely frustrating to head to the bank to make a transaction, only to discover a hold was put on your savings account. While the bank doesn't have to inform you before taking thi...
http://finance.zacks.com/would-bank-put-hold-savings-account-telling-me-2781.html
While joint bank accounts are convenient for spouses and seniors who need a little assistance, they can pose a risk. To minimize the risk of another account holder withdrawing more funds than...
http://finance.zacks.com/put-restrictions-joint-bank-account-11439.html
Most creditors can only seize your bank account for an unsecured debt if they've sued you in court and have a judgment against you. Tax debts and child support arrears are the exception. This...
http://finance.zacks.com/can-creditor-freeze-bank-account-unsecured-debt-3682.html
Depending upon the specific type of letter of credit you choose to use, you will likely be forced to pay various fees. Generally speaking, the fee for obtaining a letter of credit will be inf...
If you're listed as custodian on your child's savings account, you have access to the money in that account. In fact, the child will not be allowed to withdrawal funds until he's of age. Alth...
http://finance.zacks.com/can-parent-use-money-childs-savings-account-5417.html
Whether you have a balloon loan, home equity line of credit or a business loan, you'll need to take steps to renew that loan if a balance remains at the date of maturity. The bank will review...
An open-ended loan is one that allows you to continue borrowing funds that are paid back on an ongoing basis. The biggest example of this type of loan is a credit card. Borrowers can take advanta...
Credit unions may use different terminology for their products than banks, such as "share draft" for checking accounts, but they are equivalent. In a credit union, you aren't a customer, but ...
http://finance.zacks.com/mean-says-share-draft-checking-account-statement-9823.html
In order to thwart would-be money launderers and other cases of fraud, the Bank Secrecy Act dictates that banks have to report any transaction exceeding $10,000 in cash. This doesn't mean tha...
http://finance.zacks.com/federal-banking-rules-withdrawing-large-sums-cash-1696.html
Joint bank accounts don't go through probate. If you co-own an account, say with your parent, spouse or business partner, her death gives you automatic full ownership of the account. Bypassing pr...
http://finance.zacks.com/inheritance-taxes-jointly-owned-bank-accounts-8486.html