Rates Current as of Thursday September 02, 2010

Bad Check

A check that is written when there is not enough money in the account. Also known as a bounced check

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ABA

American Bankers Association. A trade association for banks and savings associations.

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My bank is charging me exorbitant ATM fees. Is this legal?

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Can someone increase their FDIC covered CDs by holding accounts at different banks?

Yes, FDIC insures each account holders deposits separately from any deposits at another FDIC insured bank. If the bank is a branch or an internet division of the same banking institution, the accounts are considered insured at the one bank and the deposits are not insured separately.

The bank charged $34 for an overdraft, which seems excessive. Is there a limit?

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If one of my twenty-dollar bills was partially destroyed in my washing machine will it still be any good?

If you have more than 50% of its total area, the bank will replace the bill with a new one. They do this to prevent someone from splitting the bill right in half and doubling their value. Only the portion with a higher than 50% of its total area will be replaceable.

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