I am trying to understand the definition of Tier 1 capital. Internet sources seem contradictory. I understand the concept but I am confused as to whether it is shareholder equity or the market value of all shares of common stock that make up the portion that is not retained earnings, preferred stock or creative things. Wikipedia does not make this clear. Also if you can point me at a good resource for answering these kind of simple but slightly obscure questions I would appreciate it. [more inside]
I am 8 years into a 30 yr mortgage, with a fixed rate that is about 1.25 to 1.75 points above where rates are now, so it seems like a good time to investigate refinancing. What are the problems and issues I need to watch out for? [more inside]
Chase says it should work but Wells Fargo says no go. [more inside]
Hello, all. My grandfather passed away a few months ago and he has some bank accounts and safety deposit boxes for which my grandmother has no access. [more inside]
I just closed on a cash-out refinance to pay for a home renovation. I have a $100,000 check--what do I do with it? [more inside]
Is there something out there better than Mint.com to unify our financial account info? There's way too much crap in there. [more inside]
Am looking for loan to refinance a paid off, income generating house I have inherited with two brothers. The aim is to get 1/3 of the value to buy out brother M, so it will become co-owned with my other sibling. More inside! [more inside]
Bank Compliance Mefites: I'm looking to find out how one identifies customers that may be acting as agents of foreign banks. Are there resources like government published lists, activities/behaviors that help identify them, etc.? Also I know there is an online forum, BankersOnline, that is helpful for these types of questions. Are there other forums out there that may be helpful?
My bank asked me to fax them my ID along with three signatures on a piece of paper. What's that about? [more inside]
I'm looking to invest a bit of money, and for various reasons, I will be investing in one of the big 5 Canadian Banks (RBC, TD, CIBC, BMO, or Scotia). I've been looking around on the internet, but I've been having a hard time figuring out which one of these five banks is the most ethical in terms of its investment policies. [more inside]
So I have recently moved to the US and know nothing of the banking system here, so am finding it hard to navigate the system quickly. I just want to get a bank account that works. Help? [more inside]
I know absolutely nothing about money (I'm talking feral-child-raised-by-wolves-level "nothing") and want to get my finances in order. I'm not saving up toward any kind of goal except eventual retirement in 40-50 years. What should my next steps be? [more inside]
Are there any interest bearing checking accounts one can open while in the USA on a visa for work and studying? Apparently Bank of America will allow it but I'm not a fan of their business practices. I'm trying to help a friend get an account. She has a Social Security number.
I have an empty safe deposit box in a different state at an old bank... and I cannot get them to close the account. [more inside]
Our organization is introducing the Customer Success Manager role, and after getting the "Industry Standards" certifications (ITIL Expert, CGEIT, TOGAF), our boss has asked us to suggest where to go next. I´m looking for a value realization certification (a la BRM) to help our customers get the most bang for their money and at the same time, help our company to increase its business and specially contract renewals. Can you help me out? (More after the jump). [more inside]
I'm dissatisfied with my local credit union and am interested in taking my business elsewhere. They are the only game in town, so I'm wondering how best to assess my options for online only or at least long distance friendly credit unions. [more inside]
I have credit cards and banking accounts scattered across a bunch of different institutions. I've just kind of patchwork-accumulated them over the years and I'm now wondering if this will have any actual impact on my credit score or have detrimental effects to my finances. [more inside]
I'm shopping for a new basic personal checking account at a bank or credit union in the L.A. area, because I no longer qualify to get the monthly fee waived at my current bank. Must-haves: Need to deposit paper checks reliably, with a fast availability of funds. Online banking must have two factor authentication. Lower fees: say, under $10... under $5 would be better... free would be excellent! I've put a list together... can you help me think of other candidates? [more inside]
My husband and I have had separate bank accounts, and are starting to finally merge them. Is there any point to keeping my banking separate? [more inside]
I have a Citibank credit card and I make payments in cash at a local branch (this is my preferred method of payment because I get paid mostly in cash). I do not have a Citibank checking account. Today the teller told me that from now on, anyone making a cash payment must show their driver's license and provide their SSN, phone number, home address, and occupation. Why? [more inside]
My wife is Ecuadorian, and we are relocating to California permanently. She has two credit cards issued by a major Ecuadorian bank, and we need to figure out how to make payments on them from the United States, as there are some charges that will post after we have left the country. The bank assures us that we can do so from Cirrus-network ATMs in the United States. I am skeptical, as I have never seen anything like this in Los Angeles. [more inside]
The ladybro and I share a lot of expenses. Generally, we split everything down the middle, but that's the result of an end-of-the-month manual accounting that's a real pain in the butt. We decided to simplify and start a small join bank account, but nearly every brick 'n mortar bank has conditions that end in big fees. Is there a simple banking service I don't know about? More inside. [more inside]
I'm a Canadian who got a job in the US and is moving to New York. I need to open an account at an American bank. What's a good American bank? Any to avoid? Is there a difference or are they all the same? (Alas, for those tempted to say TD, it actually confers no advantages to those from Toronto OR the Dominion.)
Please help me locate an article I read online a couple of years ago. Essentially it went like this: the core software that banks use to run transactions is very old and hard to maintain, and they're terrified of breaking something by trying to integrate new features. Therefore, "instant" transactions via online banking aren't really instant: what actually happens is that there's an elaborate front-end emulating the functionality of the core system. Every night the front-end system delivers all the queued-up "faked" transactions to the core system, which actually processes them. [more inside]
I am in the market for a new home for my emergency savings. My current bank is a joke and I need some consistency so my money doesn't become nomadic. [more inside]
Oil has fallen by more than 50% since July 2014. How can I benefit from that fall, either by: 1. Gas banking - Is there a way I can buy gas at the current low rate and use it later after prices have risen? 2. Buying stock - Either a sector fund through an investment firm like Smith Barney, or buying pieces of stocks individually like through Ameritrade or Sharebuilder? 3. Or some other way? Or should I just buy the cheap gas and enjoy the reduction as long as it lasts?
Please recommend a currency broker (or any better mechanism) for the cheap and secure transfer of a big amount of money between Europe and Australia. [more inside]
Now that we're married we're finally getting around to opening joint bank accounts. I figured it would be pretty simple to just pick any random local bank and open a free checking account to pay our joint bills, but there seem to be a lot of options and it's getting overwhelming. I'm also considering moving my personal accounts if we find a particularly good bank, so maybe that's a mitigating factor? [more inside]
I'm a Canadian working in Toronto with an incorporated business, a business chequing account with one of the major banks (Canadian currency only), and a Paypal account connected to that chequing account. What should I consider when deciding whether to invoice American clients in Canadian or American dollars? [more inside]
I'm in need of a new bank. I've decided to go with an online only bank because of their lack of fees and 24/7 customer service. My choices have been narrowed down to Ally Bank, Capital One 360 or Charles Schwab Bank. Comments based on personal experience with any of these banks would be greatly appreciated.
Is there an application or service that will send a push message or SMS on a schedule with account balances of various accounts. Mint will do this weekly but I'd like to have it come once a day at a specific time.
We are moving from Florida to San Francisco and need to change banks- we're not super knowledgeable about this stuff and will definitely research more, but I'd like to get some on-the-ground opinions on how various local banks/credit unions have worked for them. Great customer service and low fees are of course stuff we care about a lot. [more inside]
Are there any no-fee business checking accounts for a sole proprietorship? Pretty much no services are needed other than an account that is separate from personal finances.
This morning I got an email from chase saying that my account was overdrawn. Apparently I picked the wrong bank account by accident to pay my credit card bill. Well anyway I looked at my account and the transaction was still pending. I ran over to the bank and put enough cash in my bank account to put me in the positive. Now chase says I should be fine seeing how it was still pending but, I just want to be sure.
Amazon put a large deposit in my checking account for no known reason, and I'm trying to find out what the money is from. [more inside]
(Keeping this anonymous because I'm worried my security's compromised and don't want to make it worse.) So for about the past six weeks, the log-in process on the Bank of America site has been behaving strangely for me. When I go to the BOA site I see my online userID in the normal way and click on it. That then takes me to the sitekey confirmation page where --weirdly-- my password is now showing up in plaintext on the login page, above the sitekey image. The first time this happened it was displaying my then-current password, which I immediately logged in with and changed. Since then, every time I go to log in I see the old password in plaintext, above the sitekey. When I enter either my then-current or my actually-current password it's rejected and I need to go through the reset process before I can successfully log in. I'm not freaking out, because there's no strange activity in my accounts. But still, it's unnerving. So..... what might be going on here, and what should I do about it? [more inside]
I am finishing my Ph.D this month and will be moving to Canada for a post-doc position. The town where I will be moving to has a VERY tight rental market and from what I have heard, apartments rent within hours of being posted on the local rental websites. My husband is flying out about a month before we officially move up to secure a place for us to rent, but we are worried about trying to pay for a place without a Canadian bank account. We don't want to give cash to the landlord because it is untraceable and we are pretty sure no one will accept a check from a US bank. Has anyone had to deal with this before? Any advice would be most welcome. Thanks!
I do most of my banking with a megabank but would like to open a second account at a credit union. Can you recommend one that will let me join? [more inside]
I am an American, I was here in Finland on a visa waiver, and now on a temporary waiver extension as I am waiting for my "temporary residence permit" application to be processed. I'd like to open a bank account, but the banks here in Finland won't let me. Is there any bank in the EU that I can open a bank with, but without me having much proof of residence?(I only have a letter from my doctor saying I am here recovering from surgery and doing followups). I am subletting a room in a shared house, and have no official paperwork proving so. Ideally I could open a bank account online in Europe, but I could fly there in person if need be. Thanks.
I was recently hired at a big commercial bank, but I personally bank at another. Should I make the switch? Does it even matter? [more inside]
Spurred by the MtGox implosion thread and by a TV episode in which "real", presumably USD funds in US banks were stolen by an evildoer who illegally transferred the money elsewhere, I am wondering: What protections do US dollars in FDIC-insured US banks have against fraudulent electronic transfers? Would a victim of such a theft be likely to see all, some, or none of the stolen money reimbursed by an insurance policy?
My friend has an HSBC Mexico account, that had about 40,000 dollars in it.. he didn't use the account for a year, he called today to get a new checkbook, and found out the account had zero balance in may of 2013, and the account was closed. HSBC Mexico said they can't give more information unless he goes in person to a branch in Mexico. He is willing to hire a lawyer, or Power of attorney, or someone to investigate this in Mexico who legally represent him. He is currently far from mexico and can't make it there any time soon. His mom is in Mexico, can she get power of attorney? Any advice on how to do this? How can he go about finding a lawyer in Mexico who can help him? Or what actions can he take? He suspects fraudulent activity as he did login to his internet banking last year and saw all his money there.
MeFites have always been pretty good at giving basic financial advice, like how to start saving, building a budget, getting out of debt, etc. I'm there already. I find myself in the surprising situation of being comfortable these days, and I'd like to know: what's next? [more inside]
After trying to deal with Wells Fargo's atrocious service and policies, I'm ready to look at other banking options when traveling. [more inside]
Yes, I'm writing fiction. So let's say I want to withdraw $100,000 from a U.S. bank account, in cash. How long does it take for the bank to pull the money together for me? An hour? A day? [more inside]
Need help selecting a bank for my partner and me to use for a shared household checking account. Snowflake details inside (primarily about mixing joint and individual accounts with meaningfully separate online banking logins for separate individuals tied to the accounts). If you have or know of a bank that offers accounts like these I'd love to know about it. Google's hard to make headway with searching without a lead and mostly banks I've personally encountered so far provide only one online banking login between different joint owners. [more inside]
Every month my company sells roughly $15,000 worth of monthly recurring revenue contracts with five year term lengths. The service sells for $1,000 per month so every month we sign on 15 new customers. $15,000 * 12months * 5 years = $900,000 (total contract revenue for all 15 contracts sold during the month) We've maxed out our borrowing on physical assets held by the company and I need to find a way to unlock these revenue streams to use as collateral for further growth. What's the best way to do this? I would prefer to not have to go to every customer and amend their contracts in any way. Thanks!
I need to find a bank with absolutely amazing online security. Two-factor authentication is a good place to start. Bonus points for stability and good interest rates. [more inside]
I'm a Canadian freelancer located in the GTA area, and I've signed on for a long-term contract with a US client. I'll be getting paid in USD checks fairly regularly. How can I deposit this money in my Canadian bank account and use it in Canada without getting screwed over on currency exchange fees with the big 5 banks? [more inside]
I was overcharged by $10 at a cafe. I know this from checking my bank statement, I no longer have the receipt. How should I handle this? [more inside]