Banking

Banking is the process of engaging in the business of keeping money for savings and checking accounts, issuance of loans and credit, and the like. This is an industry that is strictly regulated by the government.

Asked in Banking, Accounts Receivable

What does TRF mean on a bank statement?

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TRF usually stands for Transfer. A transaction where you transferred funds from one of your accounts to another the comments on the transaction might read TRF in the statements of both the accounts. Sometimes even transfers from or to a third party may be displayed as TRF.
Asked in Debt and Bankruptcy, Business & Finance, Banking, India

How can you find the DD number in Demand Draft?

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The first variable is the DD number which will of 6 digits, followed by 9 digit MICR code, then followed by the next 6 digits (may not exists in some banks) and lastly the 2 digit transaction code.
Asked in Banking, Industrial Credit and Investment Corporation of India Bank ICICI

Full forms of All Indian Banks?

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Full forms of famous banks of india icici- industrial credit and investment corporation of india sbi - state bank of india idbi - industrial development ban k of india nabard- national bank for agriculture and rural development hdfc - housing development finance corporation hsbc - hongkong and shanghai bank corporation ifci - industrial finance corporation of india icfai - institute of chartered financial analysts of india pnb- punjab national bank
Asked in Banking, Commercial Bank and Checking Accounts, Swift Codes and Routing Numbers

How do you locate bank code on demand draft?

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Usually the bank code can be found in the bottom of a demand draft. Check out for a white strip of paper on the bottom part of the draft and you can see different codes printed in magnetic recognition patterns. One of them will be the bank code.
Asked in Banking

Can you deposit gold into your bank account?

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No. Only Cash (Money) can be deposited into a bank account. Gold is a valuable metal and there is no way a bank will accept that and deposit it into your account. However, you can always rent out a safety deposit locker with the bank and keep your gold in that for safekeeping.
Asked in Banking

How do you open a savings account in SBI bank?

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You need the following to open a bank account: An Identity Proof - Passport or Driving License Address Proof - Passport or Driving License or Phone Bill Photograph - For the bank records Proof of Employment - For the bank records to know more about you An Introducer - This is usually a requirement for the bank to postpone all the due diligence they would do on you to a later point of time. An introducer should be someone who has an existing relationship with the bank. Initial Deposit Money - When you open an account, the bank expects you to deposit a minimum amount (Depending on the type of account you are opening) You can walk into any SBI branch near you and provide these documents and ask for a savings account. The bank will give you an application form and once you fill it, you'll get the savings account from SBI.
Asked in Banking, Biology, Genetics, Biotechnology

What are some benefits of DNA data banks?

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Most DNA databanks contain data from non-human organisms like animals, plants, bacteria and viruses. This information is used in basic biological research and medical research. Some specialized DNA databases exist for other purposes Previous answer: They help law enforcement agencies to identify and prosecute criminals using genetic evidence gathered from crime scenes. Also, they are used by doctors and hospitals to establish relationships like Paternity test.
Asked in Banking

Are Banks open on Patriot's Day in MA?

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Banks ARE OPEN on Patriot's Day in MA.
Asked in Banking, State Bank of India

What are the different types of sbi bank accounts?

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State Bank of India offers different types of accounts. They are: a. Savings Account b. Current Account c. Fixed Deposit Account d. Recurring Deposit Account e. Senior Citizen Deposit Account f. Senior Citizen Pension Account g. Etc.
Asked in Credit and Debit Cards, Banking, Industrial Credit and Investment Corporation of India Bank ICICI

Is there any way around ChexSystems when opening a bank account?

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Getting Around ChexSystems When a person applies for an account at a bank that uses Chexsystems and is denied, it shows up as an inquiry on your report. Too many inquiries on your report can cause Chexsystems to "flag" your account for suspicious activity. It is very important to know where you can and can not get an approval at prior to applying at a bank. Here is more information from Wikifriendus Contributors: I was reported to chex system 2 months ago and I'm able to open a second chance Basic Checking account with Compass Bank. It is only $5/month and I get a Visa check card. Lots of banks are starting to offer these kinds of services, you just need to look around. It is a very good way to restart your credit history. All banks are linked through the chexsystem as far as I know. If the balance is still owed, you may not find anyone willing to open an account for you until it's paid off. I believe you will be in Chexsystem for five years, then your name will be removed. There is hope. What you can do is write Chexsystem a letter stating your story. Depending on circumstances you may not be liable under the Fair Reporting Act. Well, I just found out that under most state laws a credit union cannot decline anyone that meets their membership requirements. This means that if you have bad credit they cannot decline you, but they can restrict your services. But if you need a savings account and a place to cash a check then they can do it. Second Chance Checking. Check availability in your area, some banks do offer this program for those of us that have outstanding items with chex systems. There are several online companies that provide help in finding a bank after you've been reported to ChexSystems. Wells Fargo offers "opportunity checking" which is targeted for people who are on chexsystems, even if you still owe. There is a $12.00 monthly fee, and $2.00 credit if you get direct deposit. Guaranty Bank is one of the few that will open an account if you have 1 or less Chex system reports, as long as you don't owe any money. To dispute write to: Mail: Chex Systems, Inc. 7805 Hudson Road, Suite 100 Woodbury, MN 55125 Phone: By phone at 800-428-9623 or fax at 602-659-2197 If the reinvestigation does not resolve your dispute, you are entitled to request a brief statement be added to your consumer file outlining the nature of your dispute. A list of non-chexsystems banks is on chexsystemsvictims.com
Asked in Banking, Accounts Payable, Swift Codes and Routing Numbers

Will RBI asks COT code?

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yes cot code is cost of transferring code that is true to transfer money from surely to transaction the money from another A/c 17491050009254
Asked in Mortgages, Banking, The Difference Between

What is the difference between overdraft and overdrawn?

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Overdraft is a feature provided by many banks to its best customers wherein, the customer can withdraw money from their accounts even if there is not sufficient balance in their account. The overdraft limit is set by the banks based on the customers history with the bank and his earning potential. An account is said to be overdrawn if the customer has withdrawn more money that what he has in the account.
Asked in Banking

Can you cash a check for a friend?

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No. Only your friend to whom the check is issued can endorse it and he is the only person who can cash a check. If anyone (say you) tries to cash a check issued to another individual, it is called a forgery and the forger could be arrested and legally prosecuted for his actions.
Asked in Banking, Commercial Bank and Checking Accounts, Industrial Credit and Investment Corporation of India Bank ICICI

How you will know your icici bank account balance?

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You can do it many ways. Walk into your nearest Indian bank branch with your account number and ask for it Walk into the nearest Indian bank ATM and use your ATM card and check your balance Call up customer care and mention your details and ask for it Logon to internet banking and check it Logon to mobile banking and check it.
Asked in Banking

What does POS mean with banking?

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POS stands for Point Of Sales. A POS is a place through which a sale transaction is done by a retail shop owner using the customer's credit/debit card. The bank would make the payment to the show owner for the transaction done on his POS machines (provided the customer validates it with a PIN or a Signature)
Asked in Banking

What is a stale dated checked?

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A check that is older than 90 days (or 180 days depending on the Country) is considered a stale or expired check. It is worthless and carries no value. You cannot cash such a check. Since the check is expired, the check issuing bank will not pay for it. Such a check is called a stale dated check
Asked in Cable Television, Banking

Are there cctv in cash machines?

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Yes. Almost all ATM machine rooms are monitored by CCTV's to detect and prevent unauthorized and criminal activities. Because of frequent fraudulent activities in ATMs by illegal elements, the CCTVs are installed to monitor such activities and also to catch such people
Asked in Banking, Mission Statements

What is the Vision and mission of vijaya bank?

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Mission "Vijaya Bank mission is to emerge as a prime national banked by modern technology, meeting customer aspirations with professional banking services and sustained growth contributing to national development."
Asked in Banking, Economics, US Government

When does the US Federal Reserve charter expire?

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It doesn't. The Charter was created with no stated date of expiration. However, Congress has the power to dissolve the FED.