Questions tagged [banking]

for questions relating to the custody, transfer, and management of money by banks.

Filter by
Sorted by
Tagged with
0
votes
1answer
51 views

Unauthorized online banking personal identity compromised

My father in law recently died. I have just found out that his girlfriend has been accessing a trustee account utilizing an old user ID and password. No funds were withdrawn, but the bank's cyber-...
0
votes
1answer
69 views

Freezing funds with positive balance

My spouse's son is on an account with his stepmother. Both were put on the account at different times by his dad. Unfortunately his dad passed away recently. The money in the account was to be split ...
5
votes
2answers
132 views

On the legality of replacing international transfers with intranational ones

Here is a fictional story based on this question. Andrey is a Russian programmer residing in Germany who makes regular wire transfers to his father, Boris, who resides in Russia. Chris & Dasha, a ...
-2
votes
1answer
118 views

My friend has alot of cash (about 55K in $100s) on hand and is afraid to put it in a bank. Should he be? [closed]

My friend was paralyzed from an injury when he was a teenager (about 30 years ago now). He has amassed about 55K in cash from being a small time marijuana dealer. He literally keeps it next to him at ...
0
votes
0answers
14 views

Bank regulations information

If I wanted to build software to support electronic money entities (as far as I know, a Bank without credits) in Europe. Where could I find the list of requirements to follow? By requirements I mean ...
1
vote
0answers
40 views

How do banks (in Switzerland and elsewhere) protect bank secrecy while adhering to government oversight?

Are banks in countries with strong secrecy laws (like Switzerland) letting the government see their account balances for oversight and tax compliance purposes? If so, wouldn't that defeat the purpose ...
-1
votes
1answer
76 views

Storing Bank Account Number and Sort-code in the Database [closed]

I need to store UK Bank Account Number and Sort Code in my MYSQL database to send the users payments. The PHP/Laravel site will be hosted on AWS with SSL & off-course the Account Number and Sort ...
1
vote
0answers
68 views

In UK law, are any business banking contracts considered unfair and therefore unlawful?

The bank we use for our business banking charged us US$1,300 recently. We incurred the charge by mistakenly initiating two identical transfers on online banking between accounts which have two ...
0
votes
2answers
43 views

Does installing or removing software legally constitute modifying a device?

The terms of service for my bank's mobile banking include this: USER MOBILE BANKING SECURITY RESPONSIBILITIES Ensure the Mobile Device is updated with the latest system software provided by ...
1
vote
0answers
54 views

Is there any legal obligation to banks to offer only one “purpose” field in online banking systems?

I have used numerous online banking interfaces in Germany for money transfer between accounts. While they can be quite different in terms of features such as auto-completion, storage of reusable ...
0
votes
1answer
38 views

Is it illegal for a leasing agent to share previous tenants direct debit form?

I am a tenant of a residential property in Victoria Australia. I requested my rental ledger and direct debit form to apply for a new property. My rental agent has (accidentally???) sent me the direct ...
0
votes
3answers
120 views

Can Banks legally use Encrypted Ledgers like in Private coins?

Seeing so much news about blockchains and banks I have a question that I may need your help. Taking in consideration the Bank Secrecy Act, can a Bank use a completely Encrypted Ledger? KYC is still ...
-2
votes
1answer
132 views

Bank manager withdrew funds from my account without my authority can I sue her and the bank

I deposited a large cashiers check payable to myself into my account this morning. I tried to buy eyeglasses but I only had $100.00 available in my account. I called the bank and the Mgr clms there’s ...
2
votes
0answers
80 views

Are banks in the US allow to publicly disclose the amount of the checks a bank customer is trying to cash in at the bank along with the customer name?

I read on https://abcnews.go.com/amp/US/black-man-sues-detroit-bank-alleging-racial-discrimination/story?id=68484056: Gordon said a confidentially clause in his settlement with his former employer, ...
1
vote
1answer
49 views

Do financial regulations require banks to collect marital status, annual income and liquid net worth in the United States?

Do financial regulations require banks to collect marital status, annual income and liquid net worth in the United States? Wealthfront is claiming so when creating Individual Cash Accounts:
0
votes
3answers
212 views

is it illegal for users to store money on a website?

I am aware that there are legal things that need to be considered if someone wants to start their own bank. However people earn money by selling on a website and people spend their money and transform ...
2
votes
1answer
75 views

Can I switch my user's payment provider without their consent?

My company uses a payout provider that pays out money to our users. However we have decided to switch to a different payout provider and we are wondering how to inform our users. During this migration ...
0
votes
1answer
263 views

well, I fell for the sugardaddy scam

So, long of the short. They offered to pay off my meager credit card debt. I was able to cancel all the payments but one. I called my bank and reported a fraudulent payment. It was for $211. So, am I ...
1
vote
0answers
34 views

Bank tell me it is safe to wait for real-estate loan offer

I'm trying to buy a real-estate and I have already signed a sales agreement. The bank tells me it is slow currently to print an "Offre de prêt" (loan offer), and has given an "Accord de prêt" ...
4
votes
1answer
56 views

Declining Binding Arbitration of credit cards and banks (after sign up)

Recently Chase was making a change to its user agreement and was automatically assuming your consent to abide by binding arbitration unless you opted out explicitly by sending them a snail mail with a ...
2
votes
1answer
105 views

Can I sue an at Will employer?

I work in Minnesota which is an at will state at a nationwide banking institution. I was hired in June and was told I would be doing the work of what I now know to be a site in a different state. To ...
2
votes
1answer
113 views

Can I cashout 25 BTC without proof of provenance?

Back when Bitcoin was worth under 10 USD, a friend sent me 25 BTC as a gift. Since that time, I moved them around different wallets and don't believe I still have the original wallet where I received ...
3
votes
1answer
326 views

Credit union holding car note, refuses to provide details of how payments have been applied

A credit union financed a car note for me. I never knew them before the loan transaction and I only have the car note there. Recently, my payments seem to not lower my loan balance as much as it ...
-2
votes
1answer
128 views

Can I sue the bank that allowed a wire scram to go though without my authorization

My son was scramed on the computer by allowing access to his computer to uninstall a program .The company was going out of business , so they offered a refund . there was a glitch on the computer and ...
11
votes
2answers
4k views

Can a landlord force all residents to use the landlord's in-house debit card accounts?

[asking regarding state law in Ohio, U.S.A. only] Recently I have noticed landlords issuing their residents a debit card with attached bank account. This is typically implemented without prior notice ...
3
votes
1answer
2k views

Can an employer force all employees to open bank accounts in the employees' names?

[asking regarding federal law in the U.S.A. only] Recently I have noticed low wage employers such as fast food and retail requiring employees to open a bank account through the employer. Such ...
1
vote
1answer
54 views

Locked out of my own 401k/IRA [closed]

I had a 401k plan with a company that I left several years ago and since went out of business and so their 401k plan was rolled over into a generic IRA plan. I want to roll the IRA over into the ...
0
votes
3answers
162 views

Legal options for someone going through my bank statements

So I live at home with my mother and brother. I pay rent, comparatively not much but the amount was agreed upon. The other day I got home from work to find out she had not only gone through my bedroom ...
0
votes
1answer
891 views

Authorized Signature on a bank check to a customer

Does the person who is given permission to sign as the "Authorized Signature" (at the bottom of the bank check) have to sign exactly as the real Authorized Signer or just use one's own style to sign ...
4
votes
2answers
1k views

Bank is not depositing my promotion bonus

I opened a bank account in response to a promotion in a big bank (I'm in the US). Originally it was saying "if I keep my money (50K) for 60 days, I get $600". The agent at the branch didn't say ...
-1
votes
1answer
52 views

Unauthorized use of checking account

Can a friend legally write checks and use debit card on my account without authorization?
0
votes
1answer
108 views

Is it legal to let overseas family member use my address for a bank account (US)?

I have a family member who is a US Citizen, but currently lives overseas. They want to open a US bank account and are asking me if I would be ok for them to use my home address for the account. In ...
1
vote
2answers
258 views

Can a US bank disallow a lawful permanent US resident from opening an account?

Can a US bank disallow a lawful permanent US resident (LPR) from opening an account? Definition of lawful permanent US resident: Lawful permanent residents (LPRs), also known as “green card” ...
0
votes
1answer
57 views

Under what circumstances can a banker cut your line of credit?

I was once offered, and accepted, a line of credit for X. Apparently, I violated the terms (I believe that I made a late payment), and my line of credit was cut in half. What is the legal doctrine or ...
1
vote
1answer
162 views

Bank of America fee Dilemma

I am an Australian citizen. Many years ago, whilst travelling on holiday to the US I signed up for a Bank of America e-banking account. It had no monthly fees and all was well. Every time I went on ...
0
votes
1answer
136 views

Is Bank responsible for protecting me from fraud?

I applied for a part time job on Indeed to be a “Secret Shopper for Walmart”. I took the bait and was sent a check for 2k and given an assignment to buy iTune cards at two Walmart and do a customer ...
1
vote
0answers
86 views

How can a country reclaim money held in Swiss bank(s)?

Suppose, a 3rd world country X had a corrupt/autocratic government in the 90's. Politicians embezzled a lot of public money and deposited them in various banks in Switzerland. In the 2010's, that ...
3
votes
3answers
303 views

How do concepts like intent, discrimination, and bias apply to an Artificial Intelligence agent?

Background I work at a financial institution in the United States and have been researching the regulatory impacts of Artificial Intelligence recently - specifically the simple purpose-specific ...
4
votes
2answers
277 views

Can a company legally disable a product on the basis it was acquired fraudulently?

I recently bought a product on eBay, that turned out to have been directly bought from the manufacturer with stolen credit card info. A couple months after the purchase, the hardware, which "calls ...
1
vote
0answers
52 views

Can a European bank mandate employees to have a deposit account into which salary is paid

Is this allowed under European law to mandate employees to open a local (i.e. same name) bank deposit account and claim salary will only be paid into that account internally? I suppose it must be ...
0
votes
1answer
130 views

Get access to an account of someone living abroad

My brother opened a bank account a couple of year ago in Utah , now he lives abroad and wants to get the money out. He does not have an online banking or a current debit card, only an expired one, but ...
0
votes
1answer
64 views

Which money transfer method is better?

To send money to as an investor to a startup, is it better, for proof of transfer in a possible court case in case of dispute, to write and mail a check or wire directly through banks? If I use the ...
0
votes
1answer
51 views

Deficiency judgement period after foreclosure in IL

A friend entered in foreclosure in 2014, for a condo in Chicago, IL (Chase Bank). Some time later he received a form 1099-C for cancellation of debt for around $9K. I know there's a deficiency but, ...
0
votes
1answer
78 views

What happens if someone bounces a cheque in US?

From my knowledge, if A gives cheque to B and cheque bounces, then a warrant is issued against A. Is the warrant issued anytime cheque bounces by default ? Or B has to press charges against A for ...
1
vote
1answer
55 views

Company wants to hold funds for customers

Are there any licensing or special bank account requirements for our company to hold funds for a customer and later deliver those funds back to the same customer? Similar to a savings account but for ...
-1
votes
1answer
220 views

Why is the Federal Reserve allowed to “coin Money” and define exchange rates?

According the to United States Constitution Article 1 Section 8, The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, ... But it is the Federal Reserve, ...
0
votes
1answer
182 views

Where is the rule guidance on implementing the Collin's amendment?

BACKGROUND The Dodd–Frank Wall Street Reform and Consumer Protection Act was signed into United States federal law by President Barack Obama on July 21, 2010. Section 171 known as the Collins ...
1
vote
1answer
1k views

Can a defendant get probation without being convicted of a crime?

I believe my friends are being scammed. I discovered this information on the person in question from a court case December 2017: DEFERRED ADJUDICATION Jury Waived. Defendant arraigned. Defendant ...
4
votes
1answer
1k views

Wrong name used on bank account

I know someone who was planning on legally changing their name to avoid detection by abusive family members. When opening a bank account she used her correct social security number, but used her ...
5
votes
1answer
278 views

Unauthorized access to bank account

Western Union processed an unauthorized withdrawal of $840 from my bank account, but the reversed the transaction. I am very concerned and a bit stressed out about this given all the security and ...