vania-janet/multiturn-rag-retrieval-data huggingface dataset:
"A couple of thoughts and experiences (Germany/Italy): First of all, I recommend talking to the Belgian bank (and possibly to a Dutch bank of your choice). I have similar conditions for my German bank accounts. But even though they talk about it as salary account (""Gehaltskonto"") all they really ask for is a monthly inflow of more than xxxx € - which can be satisfied with an automatic direct transfer (I have some money automatically circulating for this reason which ""earns"" about 4% p.a. by saving fees). In that case it may be a feasible way to have a Belgian and a Dutch bank account and set up some money circulation.  Experiences working in Italy (some years ago, SEPA payments were kind of new and the debits weren't implemented then):  My guess with your service providers is that they are allowed to offer you contracts that are bound to rather arbitrary payment conditions. After all, you probably can also get a prepaid phone or a contract with a bill that you can then pay by wire transfer - however, AFAIK they are allowed to offer discounts/ask fees for different payment methods. Just like there is no law that forces the store around your corner to accept credit cards or even large EUR denominations as long as they tell you so beforehand.   AFAIK, there is EU regulation saying your bank isn't allowed to charge you more for wire transger to foreign country within the SEPA zone than a national wire transfer."
Hi,   This is treated as a electronic balance transfer. There may be a fee for performing this. Cash advance interest will apply on the EBT. You may get a teaser rate for a limited amount of time. After it expires, the normal cash advance interest rate for the credit card will kick in.   Check your credit card statement. Somewhere, you'll see a section listing the interest rates. One for retail purchases, one for cash transactions.   Do not do this. If you need to borrow money to pay off a large debt, do one of the following:  1) Switch to the lowest interest rate card your bank offers  2) Apply for a credit card with another bank that is offering a great teaser rate, transfer the balance, cut your living expenses and send every penny to paying off the balance before the teaser rate expires  3) If you cannot get access new credit or switch credit cards, seek advice from a professional credit counsellor on your options and the best one to choose  Sorry to ramble. I've seen far too many people fall into the debt trap. You don't want to go there.   Source: I work for a bank which offers credit card products.
Expensing a transfer of funds is incorrect. That will affect the Profit/Loss (Income) statement when you transfer it out and back in, which you do not want, at least for the principle. The interest should be recorded as a interest income. The general way to account for transferring money is to credit the originating account, and debit the destination account. This will only affect the balance sheet accounts. For example: Transferring (buying) 10,000 worth of fix term bank deposits Interest is paid: The bank deposit reaches maturity, so the principle is returned, with the final interest payment. The accounts Checking account and Fixed term bank deposit are asset accounts, which show up on the balance sheet. The Interest income is an income account, which will show up in the income statement. This is how a fixed term/CD is usually recorded. In certain cases, where the business must follow an accounting standard, this may very well be insufficient, but this situation will be unlikely if it's a small private sports club. Having said that, double check to make sure what you've stated is indeed correct, and look back into the past entries to see how it was dealt with before, especially since you said this bookkeeping job is temporary. I would strongly advise against changing non-recent entries, even if they are incorrect. For the insurance payments, that would depend on how the damaged assets were accounted for. It's a little hard to say without more detail-- the extent of the damage, how the diminished value was accounted for in the books, the cost of repair materials, etc.
You will get periodic statements from the bank telling you about interest paid and your current balance. You should be fine unless you plan on becoming lost yourself. If you're worried about losing your mind, back it up somewhere.
I am not sure about your country but I think each country must be having some fixed time frame for reversal of the transaction (Which must be less than a month), please inquire if that time limit has passed or not ? If it hasn't best will be to wait for some more time before informing them.  Once the reversal time limit has passed no one (Except government agencies with court orders) can withdraw money from your bank account without your written consent even if they have deposited it themselves. World would have been a strange place if this restriction was not there.  Since you want to close the account you can approach your previous boss (or executive from HR/Account department) and tell them your intention. After that either you can transfer money online to their account or give them a cheque which they can deposit in their account. This way things will end faster and you will be freed from this extra account.  If above process takes time another solution will be to transfer the money to your another (permanent) account and give them a cheque from this account. Here also you can use online transfers or by sending them a cheque through courier.  Whichever mode you choose to pay the money back make sure you have some documented proof that may be helpful in future.
A lot depends on how much is in the account, and whether you expect to be returning (or having any sort of financial dealings) in Europe in the future. My own experience (about 10 years out of date, and with Switzerland) is that the easiest way to transfer reasonable amounts (a few thousand dollars) was simply to get it in $100 bills from the European bank.  I also kept the account open for a number of years while living in the US (doing contracting that was paid into the European bank), and could withdraw money from American ATMs. I eventually had to close the account due to issues between the bank and the IRS.  I think it was only that particular bank (UBS) that was the problem, though.
"The Option 2 in your answer is how most of the money is moved cross border. It is called International Transfer, most of it carried out using the SWIFT network. This is expensive, at a minimum it costs in the range of USD 30 to USD 50. This becomes a expensive mechanism to transfer small sums of money that individuals are typically looking at.   Over a period of years, the low value payments by individuals between certain pair of countries is quite high, example US-India, US-China, Middle-East-India, US-Mexico etc ... With the intention to reduce cost, Banks have built a different work-flow, this is the Option 1. This essentially works on getting money from multiple individuals in EUR. The aggregated sum is converted into INR, then transferred to partner Bank in India via Single SWIFT. Alongside the partner bank is also sent a file of instructions having the credit account. The Partner Bank in India will use the local clearing network [these days NEFT] to credit the funds to the Indian account.   Option 3: Other methods include you writing a check in EUR and sending it over to a friend/relative in India to deposit this into Indian Account. Typically very nominal costs. Typically one month of timelines. Option 4: Another method would be to visit an Indian Bank and ask them to issue a ""Rupee Draft/Bankers Check"" payable in India. The charges for this would be higher than Option 3, less than Option 1. Mail this to friend/relative in India to deposit this into Indian Account. Typically couple of days timelines for transfer to happen."
Three things prevent you from doing this: Credit cards generally don't accept other credit cards as payment.  You could do this with a cash advance or balance transfer, but Cash advances and balance transfers usually have fees associated with them, negating any reward you might earn. Your card might have a no-fee balance transfer promotion going, but Cash advances and balance transfers generally aren't eligible for rewards.
I think you'd be adding the transaction fee each time, so let's say it's 3% or minimum $10, your balance would be almost $580 by November.  Unless for some reason you have a permanent no balance transfer fee card or the two cards let you pay bills without charging a cash fee of some sort.
For the US government, they've just credited Person B with a Million USD and haven't gained anything (afterall, those digits are intangible and don't really have a value, IMO). Two flaws in this reasoning: The US government didn't do anything. The receiving bank credited the recipient. If the digits are intangible, such that they haven't gained anything, they haven't lost anything either. In practice, the role of governments in the transfer is purely supervisory. The sending bank debits the sender's account and the receiving bank credits the recipient's account. Every intermediary makes some money on this transaction because the cost to the sender exceeds the credit to the recipient. The sending bank typically receives a credit to their account at a correspondent bank. The receiving bank typically receives a debit from their account at a correspondent bank. If a bank sends lots of money, eventually its account at its correspondent will run dry. If a bank receives lots of money, eventually its account at its correspondent will have too much money. This is resolved with domestic payments, sometimes handled by governmental or quasi-governmental agencies. In the US, banks have an account with the federal reserve and adjust balances there. The international component is handled by the correspondent bank(s). They also internally will credit and debit. If they get an imbalance between two currencies they can't easily correct, they will have to sell one currency to buy the other. Fortunately, worldwide currency exchange is extremely efficient.
"As the other answers stated: Yes PayPal will transfer money from your bankaccount automatically if your PayPal balance isn't sufficient. Let's add some proof to the story: (Note, I am in the EU, specifically the Netherlands, situation might be different in other parts of the world) If I login to PayPal and go to my wallet, I have a section that looks like this:  If I click on it, I am presented with a screen with details about the connection.  Note the ""Direct debit instruction"". If I click on the ""view"" link I am presented with the following text (emphasis mine): [snip some arbitrary personal details] This authorisation allows (A) PayPal to send instructions to your bank account and (B) your bank to debit your account in accordance with the instructions from PayPal. As part of your rights, you are entitled to a refund from your bank under the Terms and Conditions of your agreement with your bank. A refund must be claimed within 8 weeks starting from the date on which your account was debited. Your rights are explained in a statement that you can obtain from your bank. Below this text is a button to delete the authorization."
"Since I can't vote up the answer yet, I will agree with it here. I find the best tactic when you call is to tell them you have an offer in hand and will use it if they don't match the rate exactly or discount it enough to save you the trouble of going through the process of a balance transfer. So if they balk and say ""No,"" then walk and go (to the in hand offer). Just remember, the worst they can say is ""No.""  If you don't even bother to ask, it's as if you did and they said ""No,"" as either scenario leaves you with the same result: an unchanged interest rate."
I think the answer to this must differ from country to country.  I have lived in several countries where the normal everyday way of making a payment is to instruct my bank to transfer the money to the recipient's account.  Of course this means I must know his name, SC and account number – but this is an accepted part of the system; businesses routinely display that information on invoices and correspondence.  It is simply not regarded as confidential. DumbCoder's comment suggests that if he has that information he can take money from my account without my permission – in other words, my bank will pay money out of my account on someone else's request, without my authority.  Is this correct?  In which country or countries can this happen?   (I must go there quickly and begin stealing people's money.)
I am able to set this up for my tenants by providing them with a form to fill out so that they provide their name and bank account information, and then I gave that to my bank and they establish a recurring ACH transfer.  This way the tenant never gets my bank information. One note about this, I had a tenant break her lease and move out.  She notified me a couple of days before the first of the month, and by the time she had moved a few days later the rent had been automatically paid.  She called her bank and asked them to reverse the most recent transaction so she could have that month's rent refunded, and much to my surprise, they did.  So the financial transfer is not necessarily one-way. This is in the US.
Disclaimer: I am not a banker nor a lawyer. I am unaware of the exact term in English, there is a process where you can ask for a reversal of a payment if it was made in error and your former employer should have made use of this. After a month though, I'm fairly sure the period of eligibility for this reversal has passed.  As far as I am aware there is no point in time where it becomes ok for you to take this money. If you wish to close the account I would advise contacting the company and obtaining their payment details so you can transfer them the money and subsequently close the account.
"If you want your bank to pay $1 to a beneficiary Bob, then the service (no matter how implemented) needs to result in Bob's bank saying to Bob ""Hey, I owe you $1"". The usual way how this is done consists of two parts - your bank needs to somehow tell Bob's bank ""hey guys, do us a favor and please give Bob $1 with a message from the sender"", and your bank needs to convince the other bank that they'll pay for (cover) that. This is the main source for the delays in international payments - there are thousands of banks, and most of possible pairs have no legal contact between themselves whatsoever, no bilateral agreements, no trust and no reasonable enforcement mechanism for small claims. If I'm Bob's bank, then a random bank from anywhere from Switzerland to Nigeria can send me an instruction ""give Bob $1, we'll make it up for you"", the SWIFT network is a common way of doing this. However, most likely I'm going to give Bob the money only after I receive the funds somehow, which means that they have given the money to some institution I work with. For payments within a single country, it often is a centralized exchange or a central bank, and the payment speed is then determined by the details of that particular single payment network - e.g. UK Faster Payments or the various systems used in USA. For international payments, it may require a chain of multiple intermediaries (correspondent banks) - for example, a payment of $1mm from Kazakhstan to China will likely involve the Kazakhstan bank asking their main correspondent in USA (some major bank such as Chase JPMorgan) to give the money to the relevant chinese bank's correspondent in USA (say, Citi) to then give the money to that chinese bank to then give the money to the actual recipient. Each of those steps can happen because those entities have bilateral agreements, trust and accounts with each other; and each of those steps generally takes time and verification. If you want all payments to happen instantly, then you need all institutions to join a single binding payment system.
"For most banks this is not the case.  Transfers within the bank are usually instantaneous. It is not uncommon for banks to draw out the length of transactions because while the money is ""transferring"" or ""settling"" it is actually sitting on the bank's balance sheet, being lent out but not earning any interest.  A good deal for them when you aggregate over the millions of customers they have.  Your bank may be trying to squeeze a few pennies of interest out of you. Delays in transactions also allow their fraud team the flexibility to investigate transactions if they want to. Normally they probably don't but if the bank delays all transactions, then those being investigated will not be aware of it."
From http://en.wikipedia.org/wiki/Wire_transfer: The entity wishing to do a transfer approaches a bank and gives the bank the order to transfer a certain amount of money. IBAN and BIC codes are given as well so the bank knows where the money needs to be sent.  The sending bank transmits a message, via a secure system (such as SWIFT or Fedwire), to the receiving bank, requesting that it effect payment according to the instructions given.  The message also includes settlement instructions. The actual transfer is not instantaneous: funds may take several hours or even days to move from the sender's account to the receiver's account.  Either the banks involved must hold a reciprocal account with each other, or the payment must be sent to a bank with such an account, a correspondent bank, for further benefit to the ultimate recipient.  Banks collect payment for the service from the sender as well as from the recipient. The sending bank typically collects a fee separate from the funds being transferred, while the receiving bank and intermediate banks through which the transfer travels deduct fees from the money being transferred so that the recipient receives less than what the sender sent. The last point may not be relevant in domestic transfers.
Yet some policies are to treat this identically to a hard hold and keep the money locked down until released. The hard hold is treated very much like an actual expenditure transaction, in that the money is locked and shown as no longer available to you. This varies by bank - some banks use an ""Account Balance"" and an ""Available Balance"", and some have done away with these dual terms and leave it up to you to determine what your balance is and what's ""available"" (or you have to call them). The key difference in the hard hold and a real expenditure is, technically, the money is still in your bank account; your bank has merely ""reserved"" it, earmarking it for a specific purchase (and gently promising the merchant they can have their money later), but the biggest difference is there is a time-limit. If a merchant does not process a completion to the transaction to claim the money, your bank will lift the hold after a period of time (I've seen 7-30 days as typical in the US, again varying by institution) returning your money to your balance that is available for purchasing and withdrawal. In every case, any vaguely decent banking institution allows you to call them, speak to some bank employee, and they can look up your account and inform you about the different sort of holds that are on your account that are not pending/completed purchase transactions. From a strictly cynical (perhaps rightly jaded) point of view, yes this is also used as a method to extort absurdly high fees especially from customers who keep a low balance in their account. I have had more than one bank charge NSF fees based on available balances that were due to holds made by gas pumps, for instance, even though my actual ""money in my account"" never went below $0 (the holds were for amounts larger than the actual transaction). And yes, the banks usually would waive those fees if you bothered to get someone on the phone or in person and made yourself a nuisance to the right person for long enough, but they made you work for it. But I digress....
I think you'll find that a credit card does have an account number and sort code, I have had a Visa card previously and currently have a Mastercard. Both were paid by Direct Debit, and I could then transfer money to the account when I wanted to pay more than the minimum payment off. Check the introductory letter from the card provider, it should be on there, failing that, contact the provider and ask them for the details, how to pay, or a direct debit mandate for either the whole amount or the minimum amount.
There are four sides to this transaction. You increase in money: A debit. (increases your Current Assets, if you will) You also gain the requirement to pay that money in the future. A credit: Definitely a Liability. When you repay the money, your cash will decrease: a credit, and your liabilities will also decrease, which is a debit (since you don't have to repay the money anymore). the account would be short-term loans, the money doesn't have a name, it's just cash and would go into whatever cash accounts you have. The bookkeeping entry would be the same as you would make for any short-term loan.
Although I have not tried, you can check out the Western Union Money Transfers. http://www.westernunion.com/WUCOMWEB/staticMid.do?method=load&pagename=serviceToBank
I just called the customer service of a real bank, not a money transfer service. It seems that the limit is on the electronic transactions only. If you show up at the bank the limits tend to be huge or do not exist (the bank rep. just told me that he is not aware of a limit in this specific bank).
##CHAPS The Clearing House Automated Payment System or CHAPS is a British company established in London in February 1984, which offers same-day sterling fund transfers.  A CHAPS transfer is initiated by the sender to move money to the recipient's account (at another banking institution) where the funds need to be available (cleared) the same working day. Unlike with a bank giro credit, no pre-printed slip specifying the recipient's details is required. Unlike cheques, the funds transfer is performed in real-time removing the issue of float or the potential for payments to be purposely stopped by the sender, or returned due to insufficient funds, even after they appear to have arrived in the destination account.  ***  ^[ [^PM](https://www.reddit.com/message/compose?to=kittens_from_space) ^| [^Exclude ^me](https://reddit.com/message/compose?to=WikiTextBot&amp;message=Excludeme&amp;subject=Excludeme) ^| [^Exclude ^from ^subreddit](https://np.reddit.com/r/finance/about/banned) ^| [^FAQ ^/ ^Information](https://np.reddit.com/r/WikiTextBot/wiki/index)   ^] ^Downvote ^to ^remove
Here is what I would do (my wife has done this and it worked great). Pay off one card. Pay down the other card then find a new card that offers a 0% period on balance transfers. They generally have between a 1%-5% fee with 3% being pretty typical. You will get probably 18-24 months of no interest. At the end of that period, provided it isn't paid off, just open another card and do another balance transfer. After you are done paying everything off get a card that offers cash back bonus and pay for everything using that card, pay the card off at the end of the month.
That depends on your bank. My credit union clears intra-account transfers immediately. The delay therefore is based on bank policy. It is possible that in the system the accounts are not really linked and so it treats transfers between accounts that you own and accounts between people the same. And further in the case of your bank that they decided to have s one day hold. I believe that'll have heard some banks advertise that you can electronically transfer money to another account holder at the same bank in just 15 min.  I would also make sure that you are selecting immediate transfer instead of a future date transfer. Mine has those as two different options and if you select the other, you just select the date of action to be at least one in the future.