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Why do so many people tell me that online banking makes budgeting easy?

For many consumers online banking makes sticking to their budget easier. Online bank management makes it effortless to sort through the bills you have and the amount you have paid on them during any time period. Frequently online bank customers are more conscientious as to how much money is available in their core checking accounts, where the maximum rate of return is in other investment accounts and how to appropriately balance their spending and income to maximize return and reduce expenses. The ability to easily move money in and out of a checking account, make transfers from banking to investment accounts and sort bills paid by categories is the primary advantage for budgeting with through online banking.

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Banking & CD FAQs

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

Yes. Federal law allows banks to charge non-interest charges and fees, including deposit account service charges. All fees should be determined on a competitive basis within the market. Each bank should make the decision on the type, amount, and method of calculation based on sound banking judgment and safe and sound banking

How many times will a bank allow an insufficient funds check to be redeposited or resubmitted?

Generally, a national bank will redeposit the check twice. However, there are no laws that determine how many times a check has to be resubmitted or may be resubmitted.

Can the bank change the terms of a business checking account?

Generally, a national bank can change the terms of a business checking account as long as the bank notifies account holders at least 30 days before implementing a change to the bank’s availability policy. Exception: Any change that expedites (speeds up) the availability of funds, a positive impact for the consumer, may be disclosed

I work at a small company that has certain transactions for purchases be done with cash. Someone told me the company is asking for an IRS audit because they cash so many checks, is this true and how would the IRS know about the cash if they don’t audit the company first?

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