A bank can verify a check and know it’s good by calling the payer bank and providing them with the name of the payer, home transit number and account number. The payer bank will check the account to see if there is sufficient funds in… Read More »How Do Banks Verify Checks to Know its Good
Our banking and finance hub is dedicated to answering questions people have in regards to banking, transactions, accounts, credit cards and finance.
In Q4 of 2020, the FintTech neobank, Chime, has opened it’s first office outside the U.S and began work in Canada. Chime says they hope to have 100 employees working in the Vancouver, Canada office by the end of 2021. Chime is the U.S equivalent… Read More »Does Chime Work in Canada?
You can find out where an electronic deposit came from by requesting your bank to initiate a trace request using the originator identification number and ACH item trace number. The originator identification number is used to identify the merchant sending or receiving the payment. The… Read More »How to Find Out Where an Electronic Deposit Came From?
Bank tellers can see your bank balance and transactions on your savings, chequing, investment, credit card, mortgage and loan accounts. Bank tellers can also see your personal information such as address, email, phone number and social insurance number. Although it’s not needed to review this… Read More »Can Bank Tellers See My Balance and Account Information?
You can get copies of checks deposited into your account. You will need to provide your bank with the processing date and amount of the check. Most banks have search fees for retrieving copies of checks deposited or copies of written checks. Depending on the… Read More »Can You Get Copies of Checks Deposited
When you complete transactions on a banking app, money app or exchange app – the transactions stay within that platform. Financial institutions do not share transactional information about their customers. If you’re wondering, can my bank see my PayPal transaction? The answer is no. PayPal… Read More »Can My Bank See My PayPal Transactions?
A night depository box is a bank secured drop box where business customers and their employees can drop off cash, coins and cheques for processing afterhours. These night deposits are processed by the bank or the secured armored truck service, such as Garda or Brinks.… Read More »What Are Night Depository Services?
When a direct deposit is sent to a closed bank account, it can be re-routed to another open bank account or returned to the sender. Some banks may hold the money in an unpostables account for seven business days before returning the money. Reasons Why… Read More »What Happens if Money Goes into a Closed Bank Account?
Have you wondered, what is an originator identification number? It is a 10-digit unique number assigned to companies and organizations that debit or credit funds through ACH. This unique originator ID is unique to every company that accepts payments. For example, if you are an… Read More »What is an Originator Identification Number (ACH Payments)
Did you recently see a debit or credit in your bank account and wondering what is IND ALL Savings MSP? This is a pre-authorized payment for an Industrial Alliance savings plan that you have setup. It can be for a RRSP or RESP with Industrial… Read More »What is IND ALL Savings MSP?