vania-janet/multiturn-rag-retrieval-data huggingface dataset:
"Many of my friends turn to me for financial advice, and here's what I always tell them because it's super effective for me... 1) I opened an online bank account with Scottrade for which I did not request a card or checks. I set up direct deposit straight to that account. It would be a complicated pain to take money out of that savings. The only time I did so was to buy my house (which was the purpose of the savings) and it involved a wire-transfer and printing of the form to fill out and faxing it in, etc. I have continued to use the account to save for my second house. I basically completely forget that the account is even there or that I am ""missing"" a large chunk of my money. 2) It is VERY important to actually budget for spending money to continue to spend on impulse items. Basically allow yourself to spend money on yourself but in a controlled way. Decide a specific amount that you want to put in a separate account that is just for you to spend to your hearts content and have it direct deposit. I find, (and Dave Ramsey also encourages this) that when I know how much money I am going to blow, I feel much more in control and it causes me to not get carried away and blow more than I realized. Take this a step further... Decide specifically what you want to buy for yourself, and label the account accordingly. For example, I decided back in March that I wanted to buy an Xbox One for when Star Wars Battlefront comes out this November. I calculated exactly how much money I would need at that time, figured how many paychecks I would receive until then, and did the math to determine exactly how much I need to direct deposit into an account JUST for saving to buy the Xbox and game. I use CapFed, and I can actually rename the account as it is displayed, so I called it ""Xbox fund"". Seeing that title, a reminder of what I really want"" encourages me to not touch it. What is your goal behind wanting to save money better? What are you saving for? Label your account accordingly so you don't just see it as money, but as progress."
It is fine to receive payments into Indian Savings Bank account. There are no restriction on deposits. There are only restrictions on number of withdrawls in a quarter.  A Current[a.k.a Checking] account makes it easier to manage. You haven't asked about tax, but I you may already know you would need to pay taxes irrespective of whether you got the money in Savings or Current account. Edit: Any individual can open a Current Account on individual's name. There is no restriction. There are multiple aspects to determine whether the activity you are doing is a service as defined by the Service Tax Rules. Please consult a CA to guide you. For less than 5K INR he would not only advice you but also do everything required to file taxes.
"Yes you should worry and take care not to violate the law or provide any appearance of impropriety.   Every bank in the USA is required under the Bank Secrecy Act to report cash transactions over $10,000 the same day to the IRS -- and here's the fun secret part -- without notification to the depositor.   But splitting the deposits up into smaller amounts is also a crime, called ""structuring"".   On occasion there is a news story where a retail business that naturally must deposit cash from customers will be (falsely?) accused of structuring, e.g.:  Feds seize grocery store's entire bank account -- Institute for Justice defends grocer Under the legal doctrine of civil asset forfeiture, your money can be accused of a crime, seized, and tried separately from its owner.  The actual cases indicate the money as defendant, i.e. ""US v $124,700"" In this somewhat bizarre system of ""justice"", the owner need not be charged with a crime, and is not in immediate peril of going to prison (about the only upside in this, but might be temporary because the authorities haven't charged the owner yet).  When only the money is charged with a crime, there is no requirement for the government to supply a public defender for the owners who can not afford a lawyer.... can not afford a lawyer, because the government took all their money...."
"&gt; My issue understanding this is I've been told that banks actually don't hold 10% of the cash and lend the other 90% but instead hold the full 100% in cash and lend 900%. Is this accurate?  That's the money multiplier effect being poorly described.  You take a loan out, but that loan eventually makes its way to other banks as cash deposits, which then are loaned out, and go to other banks, and loaned, etc., so that the economy is ""running"" on 10x cash, where 1x is in physical cash, and the other 9x is in this deposit-loan-deposit phenomenon.  &gt; The issue I see with it is that it becomes exponential growth that is uncapped.  Not true. If there is $1B outstanding ""physical"" cash (the money supply) with a 10% reserve, then the maximum amount of ""money"" flowing through is $1B / 10% = $10B. This assumes EVERYTHING legally possible is loaned out or saved in the banking system. As such, it represents a cap.   If you have an Excel spreadsheet handy, you can easily model this out in four columns.   Label the first row as follows: Deposit, Reserve, Cash Reserve, Loan Amount  A2 will be your money supply. For simplicity, put $100.   B2, your reserve column, will be 10%.  C2 should be =A2 * B2, which will be the cash reserve in the bank.  D2 should be A2 - C2, which is the new loan amount extended.   A3 should be = D2, as the loans extended from the last step become deposits in the next.   B3 = B2.  Now, drag the formulas down, say, 500 rows.  If you then sum the ""deposits"" column, it'll total $1,000. The cash reserve will total  $100, and the loan amount will be $900. Thus, there is a cap."
"The Federal Reserve is not the only way that money can be ""printed."" Every bank does fractional reserve banking, thereby increasing the money supply every time they make a new loan. There's a number called the reserve requirement which limits how much money each bank can create. Lowering the reserve requirement allows banks to create more money. Raising it will destroy money. But banks can also destroy money by calling in loans or being less willing to make new loans.  So when you look at the number of banks in the US, and the number of loans they all have, it's impossible to figure out exactly how much the money supply is expanding or contracting."
Your sister-in-law should know that anybody, US citizen or not, can open a US bank account. She should do that and then pay her 20k fee to the company. I'm a Canadian citizen and I have a US bank account and I don't even live nor work in the United States. I only use it when I travel for leisure and order online. This looks like a scam, but if you know well your sister-in-law, it may not be.
"I added ""Shared money in account"" (SMIA) as sub-account of my bank checking (CA) account and moved current difference to that account so total of CA was not changed but now private and shared money is separated. My cases would be handled the following The only downside I see is that now my balance in CA transaction log do not match exactly with bank so reconciliation will be slightly harder."
She needs to get a bank account at literally any other bank or credit union. I have not paid for a checking account ever, any bank that tries to is ripping you off. Personally I've used ING Direct/Capital One 360 for years without any problems.
There's two competing forces at work, and they are at work worldwide. Banks can get money from several sources: Through inter-bank borrowing and from raising capital. Capital can come from from selling assets, stock offerings, deposits, etc. The money the banks get from depositors is capital. In the United States, the Federal Reserve regulates the amount of capital that banks must maintain. If there was no requirement for capital then there would  be zero demand for capital at an interest rate above the inter-bank offering rate. As capital requirements have risen, banks are allowed to make less loans given a certain amount of capital. That has caused an increased demand for capital from depositors. As described in this Federal Reserve ruling, effective January 1st, 2014 the Federal Reserve is again raising capital requirements. As you can see here money can be borrowed, in the United States, at .0825% (100 - 99.9175). Currently interest rates paid to borrowers are quite high compared to prevailing inter-bank rates. They could see more upward pressure given the fact that banks will be forced to maintain an increased amount of capital for a given amount of loans.
I was forced to give my bank permission to cover any overdrafts out of my savings accounts. Or pay the bank a fee.  After 6 months I discovered they were still taking out a fee, when I confronted them they said it wasn't the overdraft fee it was just an administrative fee.  Banks need to burn in hell.
"You understood it pretty right. Every fiscal year (which runs from April 6 year Y to April 5 year Y+1), you can deposit a total GBP15k (this number is subject to an annual increase by HMRC) into your ISAs. You can open 2 new ISA every year but the amount deposited to those ISAs shall not excess GBP15k in total. From the 2016/17 tax year some ISAs now permit you to replace any funds you have withdrawn, without using up your allowance. It used to be that if you deposited GBP15K and then withdrew GBP5K, you could not pay in to that ISA again within that tax year as you had already used your full allowance. Under new Flexible ISA rules this would be allowed providing you replace the funds in the same ISA account and within the same tax year (strongly recommend that you check the small prints related to your account to make sure this is he case). Any gains and losses on the investments held in the ISA accounts are for you to take. i.e. If you make investment gains of GBP5K this does not reduces your allowance. You will still be able to deposit GBP15k (or whatever HMRC increases that number to) in the following year. You are also allowed to consolidate your ISAs. You can ask bank A to transfer the amount held into an ISA with bank held with bank B. This is usually done by filling a special form with the bank that will held the money post transactions. Again here be very careful. DO NOT withdraw the money to transfer it yourself as this would count against the GBP15K limit. Instead follow the procedures from the bank. Finally if you don't use your allowance for a given year, you cannot use it during the following year. i.e. if you don't deposit the GBP15K this year, then you cannot deposit GBP30K next year. NB: I used the word ""deposit"". It does not matter to HMRC if the money get invested or not. If you are in a rush on April 4th, just make sure the money is wired into the ISA account by the 5th. No need to rush and make bad investment decision. You can invest it later.  Hope it helps"
"Everything I have read here sounds good except for one small detail.  My bank does indeed identify ATM rebates as taxable income.  They, in fact, seemed to have begun this practice several years ago but somehow forgot to send 1099's to their own customers despite sending them to the IRS.  This ended up costing me nearly $2,000 in back taxes to cover 2012, 2013 and 2014.  My bank sent a letter of apology and will cover any penalties and interest accrued ""due to their error"". No one from the bank ever told me that these rebates could be taxable when I signed on for this special checking account for which I pay a fee each month to continue.  So what is the truth, is it taxable income or not?  I have now paid for the 2012 and 2013 tax years for something I still say is not income.  I am about to pay the 2014 tax bill and will have to pay another $850 or so due to this ruling by my bank.  How can this be right??"
In the United States, savings accounts generally have higher interest rates than checking or money market accounts.  Part of this is the government restriction on the number of automated transactions per month that can be done on a savings account: this is supposed to allow banks to lengthen the time frame of the cash part of their investments for savings.  This limit is why direct deposit of one's paycheck is almost always into a checking or money market account... and why many people have savings accounts, especially with Internet banks, because they pay significantly higher interest rates than brick and mortar banks.
"Bank of America has been selling off their local branches to smaller banks in recent years.  Here are a few news stories related to this: Along with the branch buildings, the local customers' savings and checking accounts are sold to the new bank.  It is interesting that you were told that your savings account is being sold, but that your checking account will remain with BofA.  I guess it depends on the terms of the particular sale. Here are your options, as I see it: Let the savings account move to the new bank, and see what the new terms are like.  You might actually like the new bank.  If you don't, you can shop around and close your account at the new bank after it has been created. Close your account now, before the move.  If you have a different bank you'd like to move to, there is no need to wait. Since your checking account is apparently staying with BofA, you could move all your money from your savings account to your checking account, closing your savings account.  Then after ""mid August"" when the local branch switches to the new bank and everyone else's savings account has moved, you can call up BofA and tell them you want to move some of the money from your checking account into a new savings account. If you really have your heart set on staying with BofA, option 3 looks like a good, easy choice. To address your other concerns: Bank of America is a big credit card company, so I doubt that your credit card is being sold off.  Your credit card account should stay as-is.  Even if your savings account and checking account are at a different bank, there is no need to switch credit cards. Your savings and checking accounts have nothing to do with your credit report or score, so there is no concern there.  If you end up wanting to switch to a new credit card with a different bank, there are minor hits to your credit score involved with applying for a new card and closing your current card, but if I were you I would not worry about your credit score in this.  Switch credit cards if you want a change, and keep your credit card if you don't."
Banks make mistakes.  Reconciling your account with your bank statement is the way to catch the errors.
If your old bank has online billpay, you might be able to either use that to send a check to yourself, or do an ACH transfer directly into your new account.
I would open an account with a bank that has an international presence - branches in both the US and Spain (US Bank, HSBC, Citibank, etc.) Then just transfer the money over to the new account from your old account.  Of course, ensure that you are eligible to open an account and still will have access to it after you move to the US.
If I understand TransferWise’s Supported Countries page correctly, you could use their service. I believe it should be cheaper than having the bank convert. I've been very happy with the service and use it regularly.
"To the best of my knowledge the UK's online banking systems look purely at the Sort Code and Account Number when routing transfers.  The name is not cross-checked to ensure it matches. This is why it's so easy to misdirect transfers if you make an error entering the numbers and inadvertently enter the details for a valid account belonging to the wrong person. So in your case so long as you're sure you have the correct account number and sort code it doesn't matter what you put in the name field - it'll end up in the account to which those numbers apply.  Of course you might as well put your ""best guess"" into the name field since it doesn't hurt, and in the event that something does go wrong it's backup evidence of your intentions."
"Go ahead, switch banks (and checking accounts) as often as you like. It won't affect your credit score since any credit check will be a ""soft pull"" (unless you're establishing a credit card or loan -- or overdraft protection, then it could be a ""hard pull"" that could affect your credit score). Bad karma? Hardly. Unethical? Absolutely not. You don't owe them anything. Practically speaking, it'd be easier just to switch once to a bank that has a fee structure you can live with -- as long as they don't change the rules on you."
Every bank has uses their own number ranges and assigns account numbers as they like. That means that the same account number could be in use by basically every bank simultaneously - which makes it impossible to find out the bank from the account number. A similar situation would be to find a street name from the house number - obviously, there are many streets that have a given number.
"Your bank is maintaining different states for transactions, and changing the state depending on real-world events and the passage of time. withdraw €100 from my bank account on 30 September […] my bank does not process the transaction until 2 October. The bank probably have that transaction marked as “pending” on 30 September, and “cleared” on 2 October. transfer €100 from Bank A to Bank B, Bank A's statement dates the transaction on 20 September, but Bank B dates it as coming in on 22 September. Similarly, bank A will have the transaction marked as “pending” initially. Bank B won't have a corresponding transaction at all, until later; they'll have it “pending” too, until they confirm the transfer. Then (probably at different times from each other) the banks will each mark the corresponding transactions “cleared”. The bookkeeping software that I use doesn't seem to allow for this ""transfer time"" between accounts. When I enter a transfer from one account to another, they both have to have the same date. You may want to learn about different bases of accounting. The simpler option is “cash-based” accounting. The simplification comes from assuming transactions take no time to transfer from one account to another, and are instantly available after that. Your book-keeping software probably books using this simpler basis for your personal finances. The more complex “accrual-based” accounting tracks each individual transaction through multiple states – “pending”, “transfer”, “cleared”, etc. – with state changes at different times – time of trade, time of settlement, etc. – to more accurately reflect the real world agreements between parties, and different availability of the money to each party. So if your book-keeping program uses “cash basis”, you'll need to pick which inaccuracy you want: book the transfer when you did it, or book the transfer when the money is available at the other end."
Here are some typical differences between savings and checking accounts: Depending on your banks offerings and your personal goals, you would have to decide which factors matter to you. It's certainly possible that you may conclude there is no difference in your case.
Generally speaking, you don't get the sign-up bonus when you product change to another card. The right thing to do in your case is:
It doesn't matter.  You will just renew your mortgage at the prevailing rates.  That's part of the mortgage contract.   The problem that happens is if you want to move your mortgage to another bank for a better rate, they may not accept you.  Your re-negotiating position is limited. Most mortgages have a portability option where you can even transfer the mortgage to another property, but you'd have to buy a cheaper house.
In case the other ATM is visa enabled, many bank allows transfer to visa card through their ATM. More details about your banks are required for a very specific answer. I suppose both banks are Indian Bank, which bank ?
You should ask your bank about currency exchange. Some banks provide that as a service, others will refer you to bigger banks. As for keeping the converted USD in your bank account, that will also depend on your bank - smaller banks probably can't, while big banks probably can.  Bottom line, you should ask your bank about it.
Asking a bank for which ATM/branch network it belongs to and where those networks are would be your best bet.
Some companies have banks and brokerages that are completely separate systems. So you could be actually running ACH transactions between two different banking entities. Bank of America used to have significant latency between BoA accounts, because they ran into delays integrating Fleet, BankSouth and BoA systems.
100% scam. Run away. If you have already given the bank account, inform the bank and close the account. Else just close the new account opened.  Do not contact the scammer or reply back.... Just ignore ... Don't read any of scammer email, they are very convincing in why it's right and why it's not a scam.
If so how to do it. Ask CIBC to open the new RRSP account, and ask CIBC to contact GWL to tell GWL to move your money from the GWL account into the CIBC account.
There are two basic issues here.  First, there is the difference between accounting terms and their dictionary definitions.  Second, once you dig into it there are dichotomies similar to put vs call options, long sales vs short sales, bond yield vs interest rate.  (That is, while they are relatively simple ideas and opposite sides of the same coin, it will probably take some effort to get comfortable with them.) The salient points from the Wikipedia article on debits and credits: In double-entry bookkeeping debit is used for increases in asset and expense transactions and credit is used for increases in a liability, income (gain) or equity transaction. For bank transactions, money deposited in a checking account is treated as a credit transaction (increase) and money paid out is treated as a debit transaction, because checking account balances are bank liabilities. If cash is deposited, the cash becomes a bank asset and is treated as a debit transaction (increase) to a bank asset account. Thus a cash deposit becomes two equal increases: a debit to cash on hand and a credit to a customer's checking account. Your bank account is an asset to you, but a liability to your bank.  That makes for a third issue, namely perspective.
Can you get a bank account in the US?  Yes. Can you get a bank account with a specific bank in the US?  That depends on the bank. There's more paperwork involved, and not all banks offer the service.  I would guess that the big retail banks (US Bank, Bank of America, JP Morgan / Chase, et al) are most likely to, but they are also the ones with the worst reputations for customer service.
Many U.S. banks now support POPMoney, which allows recurring electronic transfers between consumer accounts.  Even if your bank doesn't support it, you can still use the service.  See popmoney.com.
Other than the options pointed out by MoneyOne, I would like to add one more. If the bank that you want to transfer money from has bill pay facility, then you can send yourself a check for the required amount. Then you could deposit this check in the bank where you want to money transferred. I do agree that this is a long way method of transferring money between banks, but this is the only way to do it if your (From) bank doesn't allow bank to bank transfers for your (To) bank or charges you money for each transfer. Normally, most banks give you access to bill pay facility free of charge if you use online banking. I also believe that you could even use it with a savings account, but don't quote me on that. Also, I do know that Bank Of America has started accepting checks through their ATMs, so if your (To) bank does something similar, you would not even need to go to a physical branch.
The simplest method is just to write a check from one account and deposit it in the other.  If you are the owner of both accounts, you should be able to electronically deposit the check using their phone apps.  Depending on the amount you are transfering, it may take a few days for the check to clear.